Former federal Conservative cabinet minister Rona Ambrose says the secessionist sentiment in Alberta is an unwelcome source of uncertainty for investors — but it could fizzle out quickly if Ottawa handles it right.
Ambrose, now deputy chair at TD Securities, said Tuesday there’s a feeling of resentment in Alberta and in neighbouring Saskatchewan.
“I think that it can dissipate quite quickly if some of these underlying issues around how the energy sector has been treated by Ottawa are dealt with,” she told a panel discussion at the Global Energy Show.
Prime Minister Mark Carney can’t take those feelings lightly, she said.
“We’ve had 10 years that have created a huge division, east-west, in between the federal and provincial governments. He’s got to heal that,” Ambrose said of environmental policies Carney’s predecessor, Justin Trudeau, brought in.
“And so decisions he makes are not just for the economic benefit of Canada, but it’s for the benefit of national unity, which is the most important thing a prime minister should always have top of mind.”
Ambrose said outreach and trust-building is paramount and the federal-provincial relationship is “already better.”
The chief executive of one of Canada’s biggest oil and gas companies said the complaints are valid even if the separatist talk isn’t the most constructive way to go about expressing them.
“The way this separatist movement has manifested itself is really rooted in some grievances that I think are real and have frustrated this region for a long period of time,” Cenovus Energy chief executive Jon McKenzie told the panel.
McKenzie told reporters on the sidelines of the conference he has not been hearing from investors about the separatist rumblings, and that he agrees the movement will “go away” if political leaders address the concerns.
Talk of Alberta going it alone or joining the United States has ratcheted up since the federal Liberals won a fourth term in office in April.
In the province, where all but a few seats went Conservative blue, there is widespread discontent with federal environmental policies affecting the key oilpatch industry.
Alberta Premier Danielle Smith has introduced a bill that, if passed, would make it far easier for Albertans to launch referendums on various topics — including splitting from Canada.
Last month, the top executive of another major Alberta company said mere talk of secession has already been hurting the investment climate.
Atco Ltd. CEO Nancy Southern said Asian partners in a major hydrogen project indicated they won’t make final investment decisions unless there is certainty around the issue.
“There’s just too many questions for them to be confident that they can move forward with large-scale investment decisions, and so I think the separatist discussion is very unhelpful and not constructive to Alberta,” Southern said in a May interview.
Questions include how an independent Alberta would get its products to coastal ports, what kind of trade deals it would have with its neighbours, what currency it would use and how stable the economy would be.
Southern said she understands Albertans’ frustration with the federal government.
“We have had the short end of the stick on many occasions as a result of new regulations and legislation and rule of law,” Southern said.
“I’m a big believer that this prime minister wants to change things and I think we need to sit down and work together.”
