The importance of today cannot be overlooked, as Prime Minister Justin Trudeau has officially announced his resignation.
Eric Nuttall, one of the country’s largest and most influential Energy Portfolio Managers with Ninepoint Partners was on BNN Bloomberg earlier this morning to share his views about what it might mean for the sector: “Today is a fantastic day for energy investors.”
He went on to illustrate how “it would be impossible to have asked for a more antagonistic Prime Minister”, while detailing some of the current administration’s anti-energy policies over the last 9 years, including:
- the notorious “phase out the oil sands” comment
- the cancellation of Northern Gateway
- the passage of Bill C-69, which made it very difficult to build new pipelines
- the infamous “no business case for LNG” comment
- the carbon tax
- the emissions cap, or the “effective production cap”
In summary, Eric Nuttall described these antagonist policies as having “prevented foreign capital from being invested in Canada.”
His optimism for the future is apparent, as Eric believes today “is the beginning of the elimination of the political risk discount being applied to our stocks.”
Please click the link below to watch the full interview.