A new Ipsos poll conducted exclusively for Global News shows that most Canadians believe the federal government should ensure that foreign buyers are not able to purchase companies that develop the country’s key natural resources, such as oil and gas, forestry and mining.
The survey of 1,000 Canadians aged 18 years and older was conducted between Oct. 25 and 27.
It found that 64 per cent of people surveyed believe the federal government should ensure foreign buyers are prevented from purchasing such companies.
On the other hand, 36 per cent say they believe it’s OK for foreign-owned businesses to acquire such companies.
Regionally, British Columbia residents are most opposed, with 77 per cent rejecting the idea of foreign ownership.
Albertans are the second-most opposed, with 73 per cent of the province’s residents opposed to foreign ownership of Canada’s natural resources.
Quebec, at 61 per cent, and Ontario, at 57 per cent, are the least likely to oppose foreign ownership.
“Interestingly, the two places where those numbers are the highest are British Columbia and Alberta,” said Darrel Bricker, CEO of Ipsos Global Public Affairs.
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“They would think that British Columbia and Alberta would be on opposite sides of the equation on this, given that one has an NDP government and the other has probably the most conservative government in the country.
“But no, they’re very much aligned on keeping domestic control over our natural resources.”
With the two provincial governments engaged in a battle over Alberta’s desire for another pipeline to the Pacific coast and British Columbia’s concerns over the environmental and economic risk of such a development, Bricker says both could point to the results of the poll to say their position is the correct one.
It also creates a dilemma for the new federal government and its desire to develop “nation-building” projects.
“This has been a problem in Canadian politics for almost two decades. The truth is, if we want to diversify our sources of trade in this country, particularly our opportunities for export, we are going to have to find a way to get our natural resources products to markets other than just the United States,” said Bricker.
There’s really no other way to do that efficiently than through some sort of new infrastructure to exploit it.”
And it isn’t just pipelines, he said.
“It’s gonna be opening up new mines. It’s going to be looking at new opportunities to exploit British Columbia’s forestry products, one of the biggest industries in British Columbia. These conversations have to become front and centre,” added Bricker.
“Now, particularly, in this situation that we find ourselves as global trading relationships continue to collapse, we need to find new sources of buyers out there, new sources of income to bring into the country, and the only things of value that we really export are our natural resources.”
Demographically, the Ipsos poll also reveals that older Canadians, those aged 55 and over, are more likely to oppose foreign ownership, with 71 per cent thinking it’s a bad idea to allow such companies to fall into foreign hands.
Conversely, younger Canadians between the ages of 18 and 34 are the least opposed to foreign ownership.
Bricker compares the results of the poll to the similar “Buy Canadian” sentiment we are seeing in places like the grocery store.
“Basically, what this is saying is if globalization is being challenged, particularly by our southern neighbour, then we have to protect our key assets, and our key assets are natural resources,” said Bricker.
“Canadians get that natural resources are the fundamental driver of our economy. So they want to protect it. And what this shows is that anybody who’s going to be trying to buy a foreign company in Canada … a foreign company trying to buy a Canadian natural resource asset, has to be very, very careful.”
The Ipsos poll is considered accurate to within plus or minus 3.8 percentage points 19 times out of 20.
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