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ANALYSIS
Observers are claiming it was China's lurking and ominous shadow from a pending and massive $15 billion CNOOC deal for Nexen...and not Malaysia's worthiness...that suddenly delayed a $5.2 Progress Energy takeover by Petronas...shocked Kuala Lumpur...and investors.
The Harper government's demand for a delay...drove down national energy stocks...and even pressured the usually strong and stable CAD.
In the next decade...Canada needs $660 billion to develop its energy sector...but the unexpected Petronas delay has the market questioning Harper's openness to foreign monies.
