Investors Turning Away From Canadian Energy Under Trudeau Government Says Fund Manager

“Increasingly, investors are questioning the merits of investing in Canadian energy and with that, Canadian companies will struggle to access capital, create jobs, develop resources and provide a significant revenue stream for the country.”

Darren Peers of Capital Group Companies – a large investor in the energy sector including in Canadian energy – is warning that investors are looking outside of Canada as the energy industry in this country continues to struggle.

In a letter, Peers said “Capital Group’s energy investments are increasingly shifting to other jurisdictions and that is likely to continue without strong government action. I hope that your government will be even more proactive in securing market access which will assure the competitiveness of Canadian energy companies.”

He added, “Market access is critical to an investment in a Canadian energy company and if that continues to be under threat, global investors will seek opportunities elsewhere and Canadian companies will be further impaired. Increasingly, investors are questioning the merits of investing in Canadian energy and with that, Canadian companies will struggle to access capital, create jobs, develop resources and provide a significant revenue stream for the country.”

Of course, this will get even worse. The Trudeau government is taking more and more steps against the industry, including with Bill C-69. Brett Wilson has said he’s terrified by the ‘lunacy’ of the legislation, which will make it almost impossible for pipelines to be approved.

So, the exodus of capital will continue, and Canadians will continue to pay the price for a government that would rather virtue-signal for global elites than support Canadian energy.

Spencer Fernando

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