Gwyn Morgan: A great national energy champion is leaving Canada, thanks to Trudeau

My belief in the importance of Canada-headquartered companies goes back to the early 1970s when, as a young engineer, I joined the Canadian subsidiary of a Nebraska-based oil and gas company. While I was treated well and given substantial responsibility, I yearned to work for a company where the decisions were made in Calgary, not Omaha. That opportunity came with a new startup called the Alberta Energy Company. I joined AEC to head the building of the oil and gas division.

The company grew quickly. But five years later, the entire oil and gas industry was struck a huge blow by Prime Minister Pierre Trudeau’s National Energy Program that capped oil prices below world levels and slapped a confiscatory tax on the gross revenues of energy companies.