Canada Becoming a ‘Banana Republic’ Over Energy, Grafton Says
- Calgary money manager says country is ‘closed for business’
- Sankappanavar finding ‘deep value’ in Canada oil-patch stocks
Geeta Sankappanavar
Bloomberg
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Canada risks becoming a “banana republic” for its restrictive energy policy and failure to attract new investment into the sector, according to a Calgary money manager.
“We have had basically signs on our energy industry that Canada is closed for business,” Geeta Sankappanavar, co-founder of Grafton Asset Management, said Thursday at the Bloomberg Canadian Capital Markets conference in London. “Today we are in danger of becoming unfortunately a little bit like a banana republic on the energy side.”