Why Trudeau’s defeat is a huge win for Big Oil

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In peace,

Steve

You might be right to imagine Big Oil CEOs and bankers passing high-fives around boardrooms when Prime Minister Trudeau called it quits on Monday.

“Today is a fantastic day for energy investors,” crowed Eric Nuttall at Ninepoint Partners, a multi-billion dollar investment firm. “It’s one that I’ve been praying for many years.

“This is a good day for Canada,” said Bob Geddes, president of Calgary-based Ensign Energy Services, a driller that operates in Canada and internationally. “Good riddance.”