RE:RE:RE:CPG increase when oil was $30s, $40s, $50s, $60s, $70s, $80+Yes. We lost a lot of value when the foreign investors packed up and went home. My sincere hope is, Trudeau or no, that they'll come back and we can realize the value of our investments.
And for the record, I think he's the worst Prime Minister in Canadian history. And, he's absolutely the worst in my 40 years. I keep hoping he'll get a blood clot from his AZ vaccine and just croak before the next election.
Moemoney42 wrote: That unfortunenately Radar is the ugly truth to the leadership in Ottawa... the billions of investment capital Canada has lost has cost us taxpayers dearly and the sooner we get these idiots out of office the better.. as the world economies ramp back up after covid if we don't get our house in order the IMF is going to own us, and they'll be dictating the scenario going forward.. its time for the Trudope supporters to wake up..!!! UnderTheRadar wrote: Great question.
My best guess worth repeating is that Canada's energy sector still requires much more major foreign investment to catapult these s/p's....many of us were holding stocks pre-foreign capital exodus in 2017 which annihilated CDN share prices across the board. CPG, BTE, VET are a fraction of their peak double-digit values and the list goes on...
I cannot recall the exact number that was reported back in 2017 re: the billions of foreign capital that fled out of Canada's energy sector but this headline from 2018 is a prime example of Canada's investment outflow demise in the past few years, in particular:
Opinion: Recent environmental and 'progressive' policies have worsened the investment climate in Canada, with outflows hitting a record $100 billion in 2017 This worsening resulted from the increase in environmental and climate policies such as: The mandated closing of coal-fired electricity-generating plants in Ontario (and the rapid rise in electricity prices that followed); the capping of future extraction of oil in Alberta; and the prohibition of tanker traffic along the northern coast of British Columbia and of pipelines in B.C.’s Great Bear Rainforest. There was also the imposition of stricter conditions on the construction of pipelines to prevent oil spills and the requirement to obtain “social licence” before one could be built.
The worsening of the investment climate is also due to the pursuit of the “progressive” political agenda in vogue lately across Canada, including: Heavier regulation of equity policies in pay and employment; increases in minimum wages; and restrictions on property development and the imposition of more stringent building codes.
The most important element of this progressive agenda has been the increase in taxes on corporations and high-income individuals and the prospect of still higher taxes through rising carbon taxes. Since an important part of the cost of the progressive agenda is covered by deficits, the growing debt portends even higher taxes in the future.
JamesT wrote: Can someone explain to me how come when oil went from the $30s, $40s, $50s, and $60s this stock shot up 50% to even 100% in each intervals, but when oil went into the $70s this stock is flat? Not all Canadian energy companies followed the same trend (ie. MEG, BTE, CJ, BIR and many more).
I would hope that if oil goes into the $80s or $90s we would continue the 50%-100% uptrend but my confidence is being shattered.