Green Party Calls For Inquiry Into Resource Takeover Frenzy

Ten years ago, there were 40 large Canadian oil companies. U.S. companies now own 20 of them and there are only six Canadian-owned large oil companies left. The situation is even worse in the mining sector, where three of the four biggest mining corporations are already in foreign hands. Over two-thirds of foreign-owned non-financial industry corporate assets are held by U.S. corporations. “The Prime Minister’s apparent lack of concern about this rapid buy-up of strategic Canadian resources is puzzling,” said the Green Party’s industry and entrepreneurship critic, Eric Walton. He speculated that it might be tied to the Harper government's quiet “continentalist” political agenda. "The current harmonization and integration of economic and security practices with the U.S under the so-called Security and Prosperity Partnership process goes a long way to explaining why Stephen Harper won't stand up for Canada on this critical issue,” said Walton. “Why be concerned about U.S. ownership if your long-term agenda is to advance a North American Union without a North American parliament? Why do European citizens get a referendum on each stage of deeper political and economic integration and not Canadians?” http://www.greenparty.ca/en/releases/09.05.2007

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