Carney wants to build big, but will Bay Street follow? [Globe and Mail, The (Toronto, Canada)]
Canadian Natural Resources Limited (CNQ)
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Source: Globe and Mail, The
Spencer Colby/The Canadian Press Last year, after announcing the Ottawa-Alberta memorandum of understanding, Mark Carney walked into the Calgary Chamber of Commerce as Prime Minister and left as something closer to a folk hero. Yet, while the audience in Calgary surged to its feet, the stock market barely flinched – and what movement we did see was mostly negative. What to know about Carney's ‘nation-building' projects announced so far That disconnect between the euphoria in the room and the skepticism in the market matters. Capital, not applause, is what ultimately decides whether a pipeline, a transmission line or a major transit project gets built. This goes to the heart of Mr. Carney's broader ambition to put Canada back in the business of building big things again. As for the non-reaction in the market, three main factors are likely at play – and they echo across Ottawa's entire list of major projects, from ports and liquefied natural gas facilities to transmission corrid
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