Potash decision pits Tory principles against wise governance

These are interesting times for the federal Conservative government.
And for those who watch Ottawa, it seems as if the Stephen Harper government is recognizing that good governance does not necessarily mean following a set of defined political ideals with unswaying passion.
Two mining-related moves underscore this shift in realization.
Last week, Environment Minister Jim Prentice announced that a proposed mine at Fish Lake, in the northern reaches of B.C., would not be allowed to proceed, due to considerable concerns about environmental impact.
The decision flies in the face of the stereotypes cast upon the Tories as a pro-business group unconcerned with the environment. Indeed, given the precursive protestations by environmentalists, one would have assumed that the Tories had all but rubber-stamped the approval.
Not so: and that’s a great thing for the government – and probably a wise outcome, given the very real impacts the proposed mine would have.
Today, however, the Tories are going to be tested on another key issue. The staunch promoters of de-regulated business, free market economies and free trade concepts are going to decide whether to allow a hostile takeover of Potash Corp., the largely Saskatchewan-based supplier of potash. Potash is a vital ingredient in fertilizer, and as such, a valuable commodity in a world that is pressing ever-harder to obtain as much food material from dwindling land resources.
The decision, set to come down today at 4:30 CDT, pits free-market, free-business principles against the very real concern of losing control over a material valuable to not only Canada’s economy (Potash Corp. has a mine in New Brunswick), but the global economy. The state-owned potash producer is a key generator of jobs, revenue and by its role in sustaining the agriculture of multiple economies throughout the world, a key player in the global economic landscape.
Lose control of Potash Corp. to foreign-owned BHP, and we collectively lose control of a valued resource. How valued? If the current hostile bid fails, a group of Russian investors is looking to obtain partial ownership of Potash Corp. to minimize future takeover bids – citing concerns about economic welfare for their nation.
This is heavy stuff.
The Conservatives can stick to their party principles and let the sale proceed.
Or they can follow a moral route and do what’s probably best for not only Canada, but many nations around the world.
In four hours, we’ll find out whether principles or morals win.