TORONTO, Centre of the Universe – In a stunningly articulate move over the weekend, the provincial government of Quebec has made offers to acquire several of the largest oil and gas operators in Alberta. The move comes after a brief study completed by the University of Laval regarding business ventures Quebec could get involved with to become a dominant economic power in Canada. With oilsands stocks at an all time low, Quebec is poised to buyout enough market share to become a serious oilsands player.
We see the advantage here and we will move to take it all the way. Our government still have much of our equalization payment from the federal government that we would use in such ways as to buy the stocks and shares we need to own more than 51% of 5 key businesses. With that kind of stroke, we would also chiefly employ over 50,000 Albertans. Then we get the vote! – Philippe Couillard
The study was initiated when Quebectonians realized they were not achieving a significantly powerful status in Canada compared to the economic stroke Alberta has, or the population effect Ontario has. The study covered many variations and plans that were modelled with super computers at the university. The most realistic and achievable plan was to somehow dominate the energy industry. Timing seemed to work well for Quebec, as many oil and gas operators can be had extremely cheap at the current time. Albertans polled about the plan by 2P News responded in what can only be described as typical.
To hell with that. Let’em try it. – Dick Ambrose, Gas Plant Operator near Bowden
While the Quebec government is seemingly set to move forward with the deal later this week, some powerful opposition to the deal has come from the federal government. Several cabinet ministers and policy makers have been in closed-door meetings throughout the weekend.
In a speech early this morning, the federal government stated its position. Citing the policies involved in large trade mergers with international multinational corporations, Foreign Affairs Minister Nicholson spoke out about the procedures Quebec would need to follow in order to complete such a deal.
We would need to see what they intend to do with those companies once they own them. We know that technically Quebec is a province in Canada, but we also realize that when Alberta gets involved, or Saskatchewan for that matter, Quebec has very few of the same ideologies. We would prefer to treat this as an international acquisition deal and apply all the same procedures and oversight. We can’t allow Quebec to step in and use the same management style they use in Quebec. We’ve all seen how that works out for them and Alberta is already feeling employment tension due to current commodities prices. – Right honourable Nicholson, outside of Walmart
2P News has tried to schedule interviews with industry insiders, but most of the phone numbers in our records have been recently disconnected. We sincerely hope that this move by Quebec doesn’t aggravate the already dire circumstances in the oil and gas industry.