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Ottawa has approved the acquisition of Nexen Inc. by China’s CNOOC Ltd.
Ottawa has approved the acquisition of Nexen Inc. by China’s CNOOC Ltd.
(TODD KOROL/REUTERS)

The sky is not falling for foreign investment

If oil sands companies are losing access to capital because of the government’s decision to say no more takeovers by state-owned enterprises, somebody should tell MEG Energy Corp.

Just one business day after the federal government laid out the rules, MEG sold $800-million of shares, enough to fund all its capital spending for next year.