Economist Says Canadian Energy Sector Is Being ‘Left For Dead,’ But Conservative Win Could Boost Investment

“I think if Canada shifted a little bit to the right and we had a Conservative government, it might lead to some strength coming through for the energy sector.”

According to David Doyle – economist for Macquarie Group North America – Canada’s energy sector could get an investment boost from a Conservative victory in the October election.

As reported by BNN Bloomberg, here’s what Doyle said:

“The current Liberal government is widely viewed as having not been the most favourable government for the energy sector. I think if Canada shifted a little bit to the right and we had a Conservative government, it might lead to some strength coming through for the energy sector. I think foreign investors in particular would start to look at the space more closely if you did end up with a Conservative government in October.”

He says investors have a negative outlook right now:

“We find people to be incredibly pessimistic about the outlook. Basically, the sector is being – for lack of a better term – left for dead.”

Doyle also said he felt that even a re-elected Liberal government would be more supportive of the sector due to the sector’s importance to Canada’s economy:

“I’m optimistic that even if you do end up with a Liberal government, you will end up with a more supportive backdrop for energy going forward.”

Personally however, I see that as very unlikely. The Trudeau Liberals have taken numerous steps that have hurt the Canadian energy industry, and there’s no reason to think that would change.

The reality is that the only way to ensure strong support for Canada’s energy sector is for the Liberals to be defeated.

Spencer Fernando

Photo – Twitter

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Don Taylor
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Don Taylor

The Turdeau govt has been a disaster ,and all caused by a a fool for a PM

NancyW
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NancyW

I don’t think the Liberals are with Canada improving at all, in fact … reading this the other day by our oil sector really shows how they have been and are shutting us down:

https://www.jwnenergy.com/article/2019/3/anti-pipeline-funds-flow-unexpected-sources/

any one want to vote for this? Then reading this other article, it paints a real picture of what is going on:

https://nationalpost.com/news/investigation-launched-by-federal-officials-after-postmedia-information-provided-to-irving-shipbuilding

I found these articles very disturbing.

shawn harris
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shawn harris

Even a simpleton could have accurately predicted the very real and impending doom the oil industry faces today, given what Trudeau loudly broadcasted to the oil industry, saying he was both for and against pipelines, depending whether or not he was in the west or eastern parts of Canada. before the 2015 election. And since then Trudeau has doubled down and openly said he wants to phase out the entire oil industry, by cancelling pipelines, restricting oil development and increasing regulations that make it even more costly, if not impossible, to expand the oil industry. Also the oil industry was… Read more »

Frank
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Frank

I’m with you Spencer. If Trudeau is reelected I think he will carry on with the willful destruction of our energy sector and all of the Canadian economy by extension. He is no different than his father who nearly bankrupted Canada. Arrogance and stupidity run deep in the Trudeau family.

Clive
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Clive

I’m willing to try another Conservative government, but I believe the only long term solution to the problem is an aggressive Alberta or Western Block leaving Confederation. Only then can we develop the political and covert tools required to fight those who work against Canada’s interests.