For Andrew Scheer to claim PM Justin Trudeau is responsible for TransCanada’s name change because they are running away from Canada when they are heavily invested in the U.S. and when the name change to TC Energy was planned over a year ago, is tin-foil hat thinking.
There is rarely a day that goes by without a tweet from Andrew Scheer blaming PM Trudeau for some alleged wrong. He cornered the market on #AlternativeFacts, misrepresentations, and/or obfuscations long ago, but his obsession with blaming PMJT is bizarre.
Scheer just struck again blaming PMJT for Encana moving to the U.S.
Encana started transitioning to the U.S. & selling it’s assets in 2013, long before PMJT was elected. Natural gas prices also tanked long ago.
From 2018 – https://business.financialpost.com/commodities/energy/doug-suttles-transforms-headquarter-less-encana-with-7-7-billion-deal-to-buy-newfield
They also wanted to remove the ‘gassy name’ label from Encana which is why they changed it to Ovintiv Inc! Moreover, Steve “Campbell goes on to say Encana employs 2,500 people and no jobs, including Calgary ones, will be affected by the move.”
As for PMJT damaging the economy, that’s hilarious given what Stephen Harper did and the fact Canada has the lowest debt-to-GDP ratio in the G7.
Scheer’s obsession with blaming PMJT borders on pathological
TransCanada’s “…gas pipeline network is responsible for the transportation of over 25% of North America’s gas demand, and the oil pipeline provides a vital link between Alberta and Gulf refineries in the U.S. as well as links to the eastern part of the country.” (1)
On January 9th, the Company announced a name change to TC Energy to better reflect their “…continued continental growth into an enterprise with critical assets and employees in Canada, the United States and Mexico….” according to Russ Girling, TC’s president and CEO. (2)
TransCanada, is diversified heavily in the U.S. market and signaled a name change more than a year ago. Taking out ‘Canada’ reflects the reality of being invested in 3 countries in North America with 7,000 employees: 3,500 in Canada, 3,200 in the U.S., and 300 in Mexico!
“To suggest one of the biggest corporations in Canada is changing its name to distance itself from Canadian policies?” is a stretch according to Calgary-based analyst Matthew Taylor of Tudor Pickering Holt & Co. (3)
According to Russ Girling, “The name TC Energy clearly articulates our complete business — pipelines, power generation and energy storage operations — and reflects our continued continental growth into an enterprise with critical assets and employees in Canada, the United States and Mexico….”
References:
- Why TransCanada Corporation Is a Great Investment
- TransCanada plans to change name to TC Energy
- Click-bait title was from the Canadian Press: TransCanada name change ‘de-emphasizes’ Canada for leery investors: analyst
- TransCanada changing its name to TC Energy to underline it’s not just about Canada. Company says the change better reflects the scope of its operations across North America
Lie Tracker 