Petro Canada Forced to Make Hostile Bid?
Its 1982 and Canada has just passed its new “Liberal” governments budget. Petro Canada, being the product of the Canadian government’s attempt to emulate the rash of 1970′s style third world countries. Commenced the nationalization of petroleum assets. Venezuela, Mexico’s Pemex and Libya were the prototypical examples that the Canadian government used to nationalize the Canadian oil and gas industry under Petro Canada’s “management”. Under the premis of a “back-in” Petro Canada was handed many of the most handsome oil and gas properties in the country. The fact that they were owned by other companies was not an issue. And as is the case with other third world nations, why would Petro Canada assume things are different in 2006.
I was reading another blog and found an article on Petro Canada and some unfair Canadian Government practices. I thought that this article made for an interesting read. Check it out.