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In remarks to dinner on the eve of The Energy Roundtable in Calgary, TSX Group CEO Richard Nesbitt said "Development of the oil sands will depend in large part on the strengths of Canadian capital markets. These markets are among the largest in the world and by working together we can make them even stronger." He went on to point out that there are more energy companies listed on Toronto Stock Exchange and TSX Venture Exchange than on any other exchange group in the world. He added that 430 energy companies are listed with a market cap of $553 billion as of July this year.
Mr. Nesbitt said, “We focus a lot of attention on small and medium sized enterprises (SMEs) … the kind of issuers that dominate exploration and development in the oil patch and the kind that are in niches in the economy which grow from there.” He went on to add, “Clearly being an energy superpower involves a lot more than just the energy … it involves power generators, pipeliners, miners, refiners, manufacturers of power turbines and heavy equipment, providers of transport services, construction companies, technology companies of all kinds, and all the way down the list to z for zirconium. And it involves capital markets … all of these activities require capital and the companies undertaking these activities are better served by efficient markets.”
Internationally, Canada competes very well in terms of servicing these issuers. “In the first six months of this year, oil and gas companies in the energy sector raised $4.8 billion on our exchanges, $2 billion more than in London … we also added 18 new oil and gas listings to London’s 14,” said to Mr. Nesbitt.
The Energy Roundtable is an annual conference created to facilitate privatesector investment and growth in Canadian energy markets. Senior representatives from across the globe will gather in Calgary, Alberta for the third annual event on Tuesday, September, 26, 2006.
The 2006 theme “Building the Future: Canada, an Emerging Energy Superpower” will gather senior representatives from energy companies, utilities, engineering and financial service firms for discussions on of the major drivers of investment in energy infrastructure in Western Canada.
A copy of Mr. Nesbitt’s remarks can be viewed by clicking here
