Former CEO blames “destructive policies” of the Trudeau Liberal government.
In another disastrous omen for Canada’s oil & gas industry, Calgary-based Encana is eliminating their links to Canada with a planned name change, and a move of their corporate domicile to the United States.
As reported by BNN Bloomberg, “Encana Corp. plans to establish its corporate domicile in the United States and change its name to Ovintiv Inc. in the process, the company said Thursday, a move that takes the oil and gas company further away from its Canadian roots.”
Encana’s announcement can be viewed below:
Following the report of Encana’s plans, former Encana CEO – and Founder – Gwyn Morgan, ripped the Trudeau Liberal government:
“In an email to BNN Bloomberg, Gwyn Morgan, who founded the Calgary-based company, expressed his disappointment with the decision, adding he believes “destructive policies” of the federal Liberal government left the company with no choice but to shift its asset base and capital program to the U.S.”
Alberta Premier Jason Kenney also ripped the Liberals:
“Today’s decision by Encana to move to the U.S. is not isolated.
It reflects the broader decline of the Canadian energy industry at the hands of the Trudeau government.”
Today's decision by Encana to move to the U.S. is not isolated.
It reflects the broader decline of the Canadian energy industry at the hands of the Trudeau government.https://t.co/WjHpbtxpkB
— Jason Kenney (@jkenney) October 31, 2019
Alberta Energy Minister Sonya Savage issued a statement:
“My statement on @encana’s announcement to establish their corporate domicile in the US. #ableg #abpoli”
— Sonya Savage (@sonyasavage) October 31, 2019
Clearly, this is a disastrous announcement, and is yet another example of how the Trudeau government and foreign funded groups are betraying Alberta’s energy industry and pushing investment and opportunity out of our country.
If this keeps happening, our energy industry will face total collapse, and Canada will face the breakup of our nation.
Photo – YouTube