The company will also be dropping the ‘Encana’ name, rebranding as ‘Ovintiv.’
As they depart Canada, Encana has chosen Denver as their new headquarters.
Encana’s move comes as the Canadian oil industry buckles under disloyal legislation and anti-Canadian legislation from the federal government. As a result billions of dollars are flowing to the United States, jobs are being lost in Canada, and our homegrown Canadian oil companies are being lost.
As noted by BNN Bloomberg, “Encana’s U.S. move announced last week was a morale blow for the Canadian energy industry, which has been suffering from pipeline bottlenecks that have choked off prospects for growth. The company said the move will give it access to larger pools of investment, including U.S. index funds and passively managed accounts.”
Disturbingly, Encana is also stripping any link to Canada from their name, as they will be rebranding as ‘Ovintiv.’
Canada’s energy sector continues to crumble, and that’s getting worse and worse as the Trudeau government continues to put their boot on the throat of the energy industry. Meanwhile, the United States, Saudi Arabia, Nigeria, Russia, and other oil-producing nations are prospering at our expense.
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