profile image

Gerry Angevine

Senior Economist, Fraser Institute's Global Resource Centre

Gerry Angevine is Senior Economist in the Fraser Institute's Global Resource Centre. Dr. Angevine has been President of AECL, an energy economics consulting firm, since 1999 and was a Managing Consultant with Navigant Consulting Ltd. from 2001 to 2004. He was President, CEO, and a Director of the Canadian Energy Research Institute from 1979 to 1999. Prior to that, he worked as an economist at the Canadian Imperial Bank of Commerce and the Bank of Canada. Dr. Angevine has undertaken domestic and international studies in the markets for natural gas (including trade, pipelines and storage), oil and oil products (including oil sands, refining and investment), and electricity (including deregulation, water rentals, and renewables). He has advised the Alberta Department of Energy and testified before the National Energy Board as an expert witness. He has A.M. and Ph.D. degrees in Economics from the University of Michigan, a M.A. Economics degree from Dalhousie University and a B.Comm. from Mount Allison University.

China National Oil Company Takeover of Nexen Will Be Costly for Canada

In the debate as to whether Canada should sell Nexen oil company to to China National ignores one important factor: CNOOC is state-owned. The "company overview" on CNOOC's website clearly states that its top executives are members of China's ruling Communist Party. Therefore, in effect, Nexen would become a "crown" corporation, but one controlled by the government of China instead of Canada. While government should stay out of the way of true market transactions, takeovers by state-owned companies are simply not in the best interest of Canadians, given the long sorry record of such companies.
08/27/2012 05:19 EDT