"Petro-Canada has been a great supporter and investor in our provincial offshore oil industry," said Mr. Grimes. "If this company is privatized, what will be the impact on future investments in our offshore sector? Petro-Canada is a significant investor in Hibernia, Terra Nova and White Rose and has helped kick start our oil industry. This company has always held a great interest in our offshore and I worry that other companies would not be as willing to invest the much needed capital to develop future discoveries.

"I am also concerned that Premier Williams feels that he must become personally involved in this issue. The sale of Petro-Canada has nothing to do with the transfer of the Hibernia shares which is controlled by the Canadian Hibernia Holdings Corporation (CHHC). These shares would still be held and controlled by the federal government. Is there another agenda at play here?

"I fear that Premier Williams’ agenda of privatization is coming to the forefront. Is his promotion of the sale of Petro-Canada an indication of his business approach agenda? If he prefers privatization of crown corporations, what does this mean for the future of such provincial crown agencies such as Newfoundland and Labrador Hydro and the Newfoundland Liquor Corporation? Should the people of the province expect government to begin discussions on privatizing these corporations in the future?

"The purpose of the Premier’s letter writing campaign to Mr. Layton is unclear. During the election, Mr. Layton was the only federal party leader to commit to transferring the 8.5 per cent share in Hibernia to the province. Why did the Premier feel it necessary to write Mr. Layton with regards to Petro-Canada, an issue that has nothing to do with the transfer of the Hibernia shares?

"Does this Premier have a hidden privatization agenda or does he just not understand the issue of the transfer of the 8.5 per cent share of Hibernia? As of right now, there seems to be no other explanation for his actions."