Harper won’t help protect Potash Corp from a foreign takeover

Prime Minister Stephen Harper has signalled that he doesn’t see Potash Corp. of Saskatchewan (POT-N142.43-1.00-0.70%) as a national corporate champion in need of protection from a foreign takeover, saying it’s already American controlled.

As Saskatchewan’s Premier and opposition critics demanded Ottawa act to protect Canada’s resource sector from further foreign domination, Mr. Harper told the House of Commons on Wednesday the fight for Potash Corp. is over “a proposal for an American-controlled company to be taken over by an Australian-controlled company.”

However, Potash Corp. is not U.S. controlled. Canadian shareholders own about 49 per cent, while foreign shareholders hold 51 per cent, including 38 per cent held by Americans, according to a Conference Board of Canada report done for the government of Saskatchewan.

Read the rest at the GlobeAndMail.com

Most long time readers of my blog will know I have no love for Harper, but I haven’t blindly hated him either.  It is getting pretty hard to give credit where it is due, when I see so little credit to give.

We are looking at a 55 billion dollar deficit, long form census stupidity, billion dollar G8 expenses, no measurable progress on global warming, losing the bid for the UN security council seat, labeling gun registry advocates as “toronto elites”, hanging out one of his own MP’s out to dry, proroguing out of convenience, etc, etc, etc… 

I’ve endured all this, but this last one really really bugs me.  Why won’t he stick up for Saskatchewan?  It isn’t like we didn’t elect 13 out of 14 possible conservative MPs.  Don’t they have a say in government? 

We have 3 companies in Saskatchewan that have any weight on the world scene.  One mines Uranium, another Potash and one is a grain company.  Most of what we do for money in this province is pulling stuff from the ground (whether on top or below) put it on a train and or boat and sell it to someone else.  Can’t we own the companies that do that? 

Comments are closed.