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BlishBlash t1_iud6rle wrote

Reply to comment by MasterFubar in Canada restricting foreign state-owned firms from critical mineral industry by NineteenSixtySix

"they must allow"

They should just nationalize it.

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MasterFubar t1_iud7zlq wrote

> They should just nationalize it.

How would that get investments? Who would want to invest in a country that does that?

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Rhannmah t1_iudg5tq wrote

I don't want investments, I want Canadians to control every step of the process so that the profits come right back to us and not in the pockets of some offshore multitrillion dollar conglomerate.

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burner_ob t1_iudnwzc wrote

And invest the proceeds in some kind of sovereign wealth fund that will outlive the natural resources it's based on. Something to ensure that mineral and other natural resource revenues are used to create long-term national wealth that is mandated to fund things like health care and education, and is insulated from other government spending.

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tickleMyBigPoop t1_iudp1x1 wrote

Cutting off foreign direct investment would lead to about 2.5 million jobs out of 15 million jobs disappearing. The best way to end FDI is nationalizing something.

“My name is r/Rhannmah from the Alberta Oblast and i would love to end FDI into Canada”

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Rhannmah t1_iuetd12 wrote

Here in Quebec we kicked out the private electricity companies 60 years ago and now we enjoy the most affordable electric energy in the world, and we even export our surplus for profits. No jobs disappeared, on the contrary many jobs were created. I want that for every resource in this country.

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