Casting doubt on the Canadian brand, Golden West Business Commentator Paul Martin says the cancellation of the Energy East Pipeline means more than just losing a way to transport oil across the country.
Martin says investors are starting to reconsider their place in Canada. "I think there's a frustration level in that business community that it's getting harder and harder to get a major project approved in Canada."
"We are a country that exports, we rely very heavily on exports, and if we can get oil to market then the world looks at us as says 'Canada, can you get any of your other products to market?' so the Canadian brand is at risk a little here too."
While the cancellation of the Energy East Pipeline wasn't exactly a shock since TransCanada put it on hold after facing regulatory issues, Martin says the official word has more ramifications and gets business leaders talking.
While the business community is expecting fallout from the cancellation of the Energy East Pipeline this week, politicians are already trading shots. Saskatchewan Premier Brad Wall says the blame should land squarely on Prime Minister Justin Trudeau's government for being anti-business with the regulatory process.
Wall says Ottawa is counting on western Canada to grin and bear it as Alberta and Saskatchewan lose jobs because of the red tape that killed the project.