Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Wednesday, October 03, 2012

Clement Says Cnooc-Nexen Public Hearings Would Be Illegal

Oct. 2 (Bloomberg) --The government would be breaking the law by yielding to pressure from the opposition New Democratic Party to hold public hearings into Cnooc Ltd. (883)’s takeover of Nexen Inc. (NXY), Treasury Board President Tony Clement said.

The NDP, the biggest opposition party in the country’s legislature, introduced a motion yesterday calling on the government to hold public hearings “into the issue of foreign ownership in the Canadian energy sector with particular reference to the impact of state-owned enterprises.”

Beijing-based Cnooc has offered to acquire Nexen, a Calgary-based oil and gas producer, for $15.1 billion. The government is reviewing the proposal under the country’s foreign-takeover law, known as the Investment Canada Act.

“Basically they’re calling on the government of Canada to break the law,” Clement said in an interview today after giving a speech in Ottawa. “The law is very clear. Under the Investment Canada Act, there is a legal process that if you diverge from that process in any way, you are going to be subject to legal consequences.”

The motion is scheduled to be debated today and voted on tomorrow.

Original Article
Source: bloomberg
Author: Andrew Mayeda

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