Popular finance guru Kevin O’Leary says he’ll invest $1 million in Canadian oil industries — if NDP Premier Rachel Notley resigns.

The former Dragon’s Den host was speaking on Newstalk 1010’s Live Drive radio program about the downturn in the Canadian dollar and economy, largely caused by sinking oil prices.

“I mean no disrespect when I say this but here’s my offer: I’ll invest $1 million in Canadian energy companies if out of grace and for the absolute good of Canada the premier of Alberta resigns,” O’Leary said.

“I wouldn’t touch them now because she doesn’t know what she’s doing.”

“Please step down, please, do it for Canadians,” he begged.

O’Leary attributed layoffs and the plummeting dollar on the inexperience of Notley’s government and poor policy choices, specifically, hikes in corporate tax rate and uncertainty about royalties.

“The Alberta government is in free fall, there’s total chaos there,” he said.

“It’s like a horror movie, it’s an unbelievable series of events.”

The results of a review of Alberta’s oil royalty policies have been delayed a few more weeks, stirring up angst amongst energy industry insiders who fear a hike in fees while oil continues to deflate.

Notley's government also approved a corporate tax hike that would see the rate increase by two percentage points, up 12 per cent from 10 cent, last summer.

The industry is also dealing with higher fees for larger carbon emitters and is awaiting the implementation of a broad-based $3-billion a year carbon tax.

Oil has plummeted to about $30 (U.S.) a barrel from a high of $100 for West Texas Intermediate in 2014. In the process it has sucked $6 billion out of the Alberta budget this year alone and contributed to job losses in the tens of thousands.

Outside of Alberta, the unemployment rate has remained relatively stable but the Canadian loonie has fallen to 70 cents on the U.S. dollar.

Although O’Leary’s promise of $1 million isn’t exactly chump change, it should be noted that in 2014, natural resource companies invested $126 billion, about half of the total non-residential capital investments in Canada, according to Natural Resources Canada.

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With files from The Canadian Press

Correction: Jan 12, 2016: This article was edited from a previous version to make clear the tax hike of the Notley government.

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