Prentice sees stronger year for oilpatch, but warns of foreign investment chill - InfoNews

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Prentice sees stronger year for oilpatch, but warns of foreign investment chill

Jim Prentice is shown during an interview in Ottawa on November 19, 2012. THE CANADIAN PRESS/Fred Chartrand
December 13, 2013 - 11:49 AM

OTTAWA - CIBC senior executive Jim Prentice says he is still concerned Canada is sending the wrong message on foreign investment.

The former Harper government minister says he expects 2014 to be a better year for the oilpatch after a difficult 2013.

However, Prentice says the government's refusal to permit state-owned enterprises to invest in Canada's energy sector isn't helping.

He says most of the largest international energy firms that might want to invest in Canada are state-owned, which means Canada is cutting itself off from a big part of the sector.

Alberta Finance Minister Doug Horner agrees and says he intends to raise the issue at a meeting of finance ministers that gets underway Sunday.

Prentice says he sees hopeful signs that some of the objections against building a pipeline to the West Coast are being addressed.

News from © The Canadian Press, 2013
The Canadian Press

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