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Norway's Oil Fund Heads For $1 Trillion; So Where Is Alberta's Pot Of Gold?

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    Norway's Oil Fund Heads For $1 Trillion; So Where Is Alberta's Pot Of Gold?

    http://www.huffingtonpost.ca/2014/01/11/oil-fund-norway-millionaires_n_4576887.html

    This article from the Huffington Post shows that Norway has created a trillion dollar heritage fund. Sask and Alberta have squandered their oil wealth and run huge deficits.
    Some would argue that you have to feed the horse (oil industry) so that some oats will come through for the sparrows. The reality is that Alberta and Saskatchewan are failed Petro states. Both Wall and Notley continue the same pro oil industry policies to the detriment of their citizens.
    I would assume it is a lot more expensive for Norway to pump oil from the north Sea than it is in Sask and Alberta.

    The farmer loss of 6.5 billion dollars (agriculture economist Richard Gray) because of the removal of CWB singled desk is clearly impacting farmers and the economy of Saskatchewan. Of course Wall supported the Harper and Ritz when they removed of the CWB single desk selling. Walls solution is to tax the farmers because of his incompetence and bad decision making.

    Some may dispute farmers lost 6.5 billion Dollars in the 2013-2014 and 2014-15 crop years because of the removal of the CWB single desk and continue to lose billions annually. Rather than dispute or dismiss this work of Richard Gray perhaps they could provide information from another Ag economist on this issue.

    Of course Brad Wall taxes the farmers (fuel Crop Insurance) for the mess he created. How did the farmers create the financial mess in Sask?? Why should farmers pay for the problems that Wall created

    #2
    All very good questions.

    Even the math on the clean coal shit doesn't pass any economic test.

    Maintenance costs are higher than revenue.

    Wall could have gave Justin 50 million a year for 20 years and told him he's using coal and been money ahead.

    That cenovus board seat wall gets only cost about 2 billion.

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      #3
      Lol, what does the communist former cwb have to do with norway's heritage fund? Or are you saying that if we still had the--- we would be far richer? And if so, how come we didn't become extremely rich after 74 years of iron-fisted --- rule?

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        #4
        Who owns Norway's oil reserves....does Norway have provinces or states that control the resource independant of each other or the Country as a whole? A sad comment made the other day about any Canadian province not having too large a budgetary surplus for fear of having huge transfer payment obligations.

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          #5
          Where oh where did all the oil money go?


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            #6
            http://www.zerohedge.com/news/2017-02-17/norway-central-bank-chief-warns-massive-50-drop-wealth-fund-cover-budget-deficits

            They are riding the Trump bump in equities moreso then good governing. Smart investing I'll give them that. Add in a strengthening USD and is easy to retain wealth as long as a correction in equities happens or the krone doesn't appreciate.

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              #7
              Coleville....now I wonder what the per capita equalization payment sent to Ottawa was for Sask and Alta combined. Or Sask alone for that matter(since our population isn't very large...

              Gotta go change fuel filters on the sprayer....will check in later.

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                #8
                Originally posted by ColevilleH2S View Post
                Where oh where did all the oil money go?
                Quite a bit of it overseas by the looks of these ownership statistics first on oil/gas wells in AB and the next 3 showing ownership of the tarsands. Remembering how small the royalties are relative to other jurisdictions never mind the royalty free extraction that goes on. How much of the profit made off Canadian oil/gas goes overseas - and how much tax are these entities paying in Canada?

                (Sorry about the last attachment - was experimenting with sizing and couldn't delete it. It's the same info contained in the earlier attachments.)

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                  #9
                  Have to agree Grassfarmer. I have always thought it was wrong the amount of foreign ownership. One positive, CNRL bought out Royal Dutch Shell's oil sands assets. Not sure how you increase Canadian ownership as I would totally disagree with government getting involved with owning oil companies.

                  Comment


                    #10
                    % million population maybe not a lot of infrastructure to spend dollars on hence huge treasure chest

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                      #11
                      Originally posted by malleefarmer View Post
                      % million population maybe not a lot of infrastructure to spend dollars on hence huge treasure chest
                      As well Norway is one of the highest taxed jurisdictions in the world. Mind you health care, education, and other welfare state programs are provided. May be wrong on this one but I don't think they pay for electricity.

                      The government owns statoil and virtual has a monopoly on oil production. Western Canada historically has been invested in heavily by foreign oil companies. Trudeaus nep chased out a lot of these outfits and it took 20 years before they came back. I have a problem with foreign companies buying up Canadian companies but for a foreign co to come in and develop a resource why not. Often times domestic interests do not have near enough funds to partake in large projects.

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                        #12
                        Mallee. No matter how you try Int Farm keeps repasting the same thing over and over.
                        Will never concede to a fact he doesn't agree with. True meaning of Denier.
                        Although we have wasted, we are nothing like Norway. Repeatedly I have asked him to go live there.
                        Wouldn't wish him on you or anyone else.

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                          #13
                          Originally posted by blackpowder View Post
                          Mallee. No matter how you try Int Farm keeps repasting the same thing over and over.
                          Will never concede to a fact he doesn't agree with. True meaning of Denier.
                          Although we have wasted, we are nothing like Norway. Repeatedly I have asked him to go live there.
                          Wouldn't wish him on you or anyone else.
                          Like.

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                            #14
                            The reason we are as broke and owned by foreigners is all to do with the aholes voting PC for 44yrs and happy that they voted for the winner. Never once asked the question where's the money. I think all the defeated pcs left the country ,probably with a suitcase full of cash. I think three has only been 3 ex members stuck there head up since defeat

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                              #15
                              Travelled in Denmark and Sweden extensively mostly on farms so not a true cross section of country and neither are Norway of course but they are all taxed to high heaven, a awful lot is free education university medical many other things are hugely discounted. From memory only two tax levels....a lot and even more...but no one complained.

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