Review panel required to clarify net benefit test
Jittery nerves were temporarily eased when Prime Minister Stephen Harper announced his government’s tepid approval to the
proposed CNOOC and Petronas
foreign state-owned takeovers.
Superficially, the PM struck a
nuanced balance for the neces-
sary development of the oil sands
on the one hand, while on the
other expressing legitimate con-
cerns that state-owned enter-
prises not operate on an unlevel
playing field, exploiting Canada’s
remains a nagging
central problem: The
test is political, and
unclear as to why
further foreign state-owned control of
oil sands is without
further net benefit
Natural Resources Law Module*
on LexisNexis® Quicklaw®
Legal Research Refined
H H Get the whole picture — Examine exclusive
commentary from legal experts in the fields of oil
and gas, mining, utilities and environmental law.
H H Better meet your clients’ needs — Search
comprehensive collections of natural resources
materials, including case digests, board and
tribunal decisions, journals, newsletters and
H H Save time and improve efficiency — Access
content related to natural resources from a single
point of access.
lic. It simply does not suffice for
the minister of industry to issue a
dull news release, lacking in specifics, suggesting only that a proposed takeover either does or does
not enhance net benefit.
To be fair, in announcing this
result, Harper chose to speak
with the media for nearly an
hour, realizing just how critical a
decision this was. He discussed
the government’s rationale, pro-
posed changes to the net benefit
test, and answered questions dir-
ectly from the press. Yet, Industry
Minister Christian Paradis was
absent, sending a disturbing sig-
nal with respect to ministerial
Jeremy Richler has completed an MA
in political science and an LL.B. He is a
sole practicing lawyer in Toronto.
Learn more or register for your 15-day
complimentary trial** today.
Personal Injury NEXT WEEK IN FOCUS:
LexisNexis and the Knowledge Burst logo are registered trademarks of Reed Elsevier Properties Inc., used under licence.
Quicklaw is a registered trademark of LexisNexis Canada Inc. © 2013 LexisNexis Canada Inc. All rights reserved.
* Requires a Quicklaw account and a separate subscription.
** Some restrictions may apply.