Mr. Speaker, the member talked about opposing opinions. Clearly, the opinion of the NDP is to oppose trade at all levels. We have seen this for the past session.
It is important to note that this is not a particularly hostile takeover. In fact, the board of directors and the acquirer were in agreement on the deal at which they arrived. It is now our responsibility as a government to ensure it is a benefit to the nation. That is what our Minister of Industry will be doing.
I would like to quote a senior executive officer of one of the largest mining companies in the country, who said that he was not surprised at the divided opinion on the merits of the takeover among both executives and the public.
It is natural for Canadians to be opposed to deals that are driven by state-owned companies...that potentially don't allow Canadians reciprocal rights.
This is obviously something we want to see happen. However, he said:
I don't support government intervention in any business.
He noted that Nexen has only 25% of its assets in Canada and that CNOOC will be keeping most of Nexen's head office functions in Calgary. In addition, he said:
Nexen wasn't exactly performing all that well, and it looks like [CNOOC] is willing to put some capital into the company and have it grow.