“There’s Been An Exodus From Canada” Says Suncor CEO As Investment Leaves

“Canada is not doing very well, competitively, at the moment,” Steve Williams said in an interview with BNN Bloomberg.

The CEO of Suncor says Canada is pushing away investment, in large part due to the burden of regulations and taxes.

In an interview with BNN Bloomberg, Suncor CEO Steve Williams said “I think we’re running out of [companies to leave], in a sense. The big guys have already exercised some of their options.”

“Canada is not doing very well, competitively, at the moment,” added Williams. “So, if you look at the sum of taxation plus royalty, then add into that the regulatory uncertainty… generally around the world there’s been an ‘Off Canada’ signal.”

Williams also said, “There’s been an exodus from Canada. Ourselves and a few others have been consolidators of that. So we keep a watching brief, but we’re not chasing anything.”

As CEOs often do to cover their ass politically, Williams praised Justin Trudeau for saying the Trans Mountain expansion “will be built,” though many have pointed out that Trudeau’s actions and words rarely match up.

Williams’ comments echo the rising tide of concern from businesses and investors on how Canada is becoming seen as a worse and worse place for investment.

This is no real surprise, since it’s well known that investment flows to where it is seen as having the best chance of succeeding. With the US cutting taxes and reducing regulations, our neighbours to the south now seem like a better bet, while Canada is imposing carbon taxes and adding regulations. So, it’s a no-brainer that investment will leave Canada.

Danger of the controlling mindset

What we are seeing is the danger of a government stuck in a controlling mindset. Often, the best thing the government can do is step back and let people make their own decisions and choices.

Unfortunately, the Trudeau government is obsessed with having control over everything, and that means they feel the need to impose taxes and regulations that hold Canada back. That obsession with control is turning Canada into a more divided, and less prosperous nation.

Spencer Fernando

Photo – YouTube

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Dave Bainard

That part he learned from the male father figure he grew up with.

Bill

Personally, goodbye big business, don’t let the door hit you in the ass on the way out. I am done with exploiting our natural resources to the detriment although not as bad by looking south of the border it is a disgrace what Americans have done to exploit theirs to the detriment of pollutants in their environment. Ours rains from above more than anywhere else from pollutants south of the border and across the ocean from Asia and Russia, this is where the majority of pollutants in Canada come from. If anything our nation is one of the Carbon sucks… Read more »

Jim

Very naive . If Canada was just a forest of green it would reduce pollutants on the planet by less than 1.6% moron. When the provincial/ federal continue the spiral of debt let me know how it feels to live in a socialist bankrupt economy.

Kitsie

A quote from Justin Trudeau, “it’s easy to fool the people” then brainwash them with the greenest and weirdest ideas and then sit back and watch them shoot themselves in the foot. While the door slams on their arses big business moves away. After all the world does run on business if you haven’t clued in yet. People like you are why we are in the mess we are in. Justin has never and cannot run a business let alone a country. Get your bicycle out and start peddling, maybe it will keep you from freezing to death this winter… Read more »

Ron Voss

Suncor CEO Calls For Tougher Action On Climate Change
https://www.huffingtonpost.ca/2015/05/22/boss-of-biggest-oilsands-_n_7423096.html

Climate inaction threatens future of oilsands: Suncor CEO
‘We recognize the … problem and I think we will solve that with new technologies,’ says Steve Williams
http://www.cbc.ca/news/canada/edmonton/climate-inaction-threatens-future-of-oilsands-suncor-ceo-1.4312236

Cry me a river.

Clive Edwards

Like a street-corner drug dealer the globalists have let us have a taste of the jobs and money they offer. If we want more we have to pay for it. Turdeau is like the cute girl who puts the suckers of their guard while they are fleeced. Once Canada has gone bust the globalist players will be back, paying pennies on the dollar for leases, royalties, used equipment and jobs. Whether these globalists are Americans, British or Chinese, if Canadians can’t own and control everything from production to refining to shipping (pipelines) we will have to tread very carefully; but… Read more »