Former Encana CEO Says Canada’s Reputation “Is In Tatters” After Trans Mountain Debacle

The message being sent is clear: Canada is not open for business.

Gwyn Morgan – formerly the CEO of large Canadian oil and gas producer Encana – is warning that the Trans Mountain pipeline debacle is further damaging confidence in Canada as a place to invest:

Gwyn Morgan, the former CEO of Encana, told BNN on Monday that “Canada’s reputation today is in tatters.” “This is bigger than Kinder Morgan. It’s even bigger than the oil and gas industry and pipelines,” Morgan said. “It has to do with whether or not protest groups, dissident governments like the one we have here in B.C. now can actually stop commerce within the country that is in the national interest.”

Morgan says the regulatory system has been ‘politicized,’ which is pushing investors away:

“My concern is everything the government has done has more form than substance to it. The new regulatory process that has been announced with much fanfare is going to be make it even more difficult to get projects done. So, we have a totally politicized system. It’s simply not acceptable to investors, and until that changes in a major way, I don’t see how investors will try to put their money down again through a process that is endless and will more or less fail anyway.”

“More form than substance” is a great summation of the Trudeau government, as their ‘commitment’ to pipelines has been totally empty, and has failed miserably.

Morgan points out that the regulatory process will “make it even more difficult to get projects done.”

He also discussed declining outside investment in Canada, saying it keeps going down as confidence recedes. “It’s the whole confidence of investors in Canada – not just the oil and gas industry – and the government has to realize this.”

Yet, we have seen zero willingness from the Trudeau government to listen to any criticism of their terrible policies, which means the loss of investment and the squandering of our national prosperity will keep getting worse.

Spencer Fernando

Photo – YouTube

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Tommy Hawk
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I would strongly suggest that, without ‘the faithful’ Canada’s reputation has been ‘in tatters.’

Nancy
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Nancy

The Lieberals have set up another emergency meeting supposedly today to deal with this, maybe they could invite some intelligent people who can explain why this is happening, since throwing more money to their communist friends to find out doesn’t work just wastes time and money, but they do not seem to know any one who is intelligent, or listen to any one with a brain, even the Conservatives could tell them, they are a middle ground more sensible group, and have tried to be co operative. Waiting to hear what slant the media will put on this debacle, that… Read more »

Shawn Harris
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Shawn Harris

Trudeau is following in the footsteps already laid down by his communist idols, Castro, Chavez, Mao, and others; that is his way of thinking and acting when it comes to making financial decision that affect all of Canada and Canadians. He believes that government should be all things to everyone including the source of their jobs. So, his history of making extremely poor decisions and creating more problems than his solution was created to solve; which has caused the departure of businesses and jobs is inline with his socialist desire to create an even larger base of poor and unemployed… Read more »

Jen
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Jen

Morgan who was once hired by PMSH and was willing to work for NOTHING/NO SALARY, was denied by opposition parties and experienced a lot of slack from them, later removed himself from his position.
Now he warns Canada of the mess they are in.

Ed R Peebles
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Ed R Peebles

I can only hope and Pray that Canada can survive another year until the election Happens !
Ed P.

Del
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Del

As the opportunity presents itself, I have been selling off my Canadian investments and getting into American, Chinese and Asian funds. I intend to continue doing this and will take a look at how the business/tax/ Government interference and blatant favoritism situation hopefully changes after the next election. Should the Liberals get back in, ALL my investments will go out of country.

Catanddog
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Catanddog

I too sold off our Canadian investments as soon as Trudeau was elected. Advised friends and family to do the same. It will get worse. I have a question. Is Trudeau putting gender demands/etc into trade deals to collapse them so Canada collapses?

Palladini
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Palladini

Trudeau is out in every way possible trying to Destroy Canada. He is, beyond doubt, Canada’s biggest Idiot. At some point in the future, the Federal Liberal party will stop and wonder how in the hell they put an Idiot at the head of the Party, if they have not done that already. They are Toast come 2o19 Election. And that cannot be soon enough.

Eric
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Eric

A court ruling is coming soon (late April or early May, 2018), regarding the specific power BC has over its coastline. If this ruling is rendered in BC’s favour this will give the Trudeau government an easy solution. The federal Liberals will be able to say that they support the construction of the Kinder Morgan Trans- Mountain pipeline but the courts have supremacy in Canada. The Liberals primary task is self-preservation – getting re-elected. The Liberals do not want to lose the 17 seats they won in BC (15 more than the previous election). If Kinder Morgan walks away from… Read more »