But the company’s decision not to invest in Énergie Saguenay “sends a signal that all governments and particularly the federal government should pay attention to,” said Tristan Goodman, president of the Explorers and Producers Association of Canada, which represents mid-sized oil and gas companies.
“We have to have foreign investment,” Goodman said. “We do need to ensure that major infrastructure projects can be built across the country.”
In addition, Berkshire Hathaway’s reported decision not to invest in a Canadian infrastructure project – even when other firms like Teck have pulled out of major projects – is particularly troubling because the company has a history of spending money when other investors are fearful.
“He’s a contrarian, which makes it even more of a message,” said Martin Pelletier, chief investment officer with TriVest Wealth Counsel Ltd. in Calgary.
I hope Blanchet chokes on this decision. Now we just have to wait and see if Team Groper will run to the rescue and cough up the now missing billions for the project. If the Fed spends even one penny on this project, it will send a clear message that Quebec is the only province that matters to this govt and that the ROC is on their own.