This disturbing statistic is directly tied to destructive government policies that have driven down the nation’s competitiveness, lack of action to stand behind federally approved projects and getting them built without having to use taxpayer’s dollars to further stall them, and ideologies of a fossil free world happening overnight, while ignoring the real facts that it is not only in demand, but will be a dominant economic force for several more decades.
The lost investment is alarming enough, but even worse, the loss of jobs, revenue and further economic growth should be a wake up call to every Canadian to the failures this country has seen over the past four years. We need to build on the strength of this nation, actually build on the middle class and those working hard to join that demographic, as the current Liberal and previous Alberta NDP government boast daily.
“Statistics Canada reported Thursday that Canadian-based energy and mining companies invested a net C$15.5 billion outside of the country in the first three months of 2019. The exodus of Canadian capital from the sector in the quarter was almost double the previous quarterly record.
It’s a bad sign for industries already struggling to attract capital. The data suggests that Canadian-based resource companies — who have refrained from large foreign investments in recent years — may now be seeking alternatives outside of Canada.”