Alberta secession talk 'unhelpful,' ATCO chief executive says

CBC

15-05-2025

The chief executive of ATCO Ltd. says discussions around Alberta secession are already hurting the investment climate.
Nancy Southern says Asian partners in a major hydrogen project have said they won't make final investment decisions unless there is certainty around the Alberta separatism question.
She says the prospect of Alberta independence is raising too many questions for companies to feel confident making big investment decisions.
Those include how it 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.
In reaction to Southern's comments, Charles St-Arnaud, chief economist with Alberta Central, told CBC News "it's not surprising. We know businesses don't like political uncertainty."
He said the same has been observed in every case where there's a question of independence or a chance of a referendum, for example in Quebec and Brexit in London.
"That uncertainty becomes a headwind for investment."
Southern said she understands Albertans' frustration with the federal government over environmental regulations affecting the energy sector, but that she believes Prime Minister Mark Carney wants to change things.
"I think the separatist discussion is very unhelpful and not constructive to Alberta," Southern said in an interview following her company's annual shareholder meeting.
St-Arnaud said he anticipates more people may follow Southern's lead, speaking out about the negative consequences of secession talk in the province.
"For most businesses, especially those who have to attract capital from outside Alberta or even companies that are kind of on the fence of whether or not they should be investing in Alberta or in Ontario or B.C., it can be a deciding factor in terms of whether or not investment happens in the province," he said.