Big oil rips off Canada. Is Canada a third world country?

[the big wheel]

If we re all in for morneau being investigated for benefitting from his actions you have to be all the way in for investigating who got oil shares or other benefits from allowing the oil industry to work here for peanuts while politicians were benefitting. Same rules need to be applied to alll.

[sawfly1]

that game plan was decided by alberta a long time ago.
come on in take it all , is what they said ;
sask on the other hand held out for more.
and it backfired on sask. because the development went to alberta.
so here we are at the bottom
like i said before the conservatives never think very far ahead.
sask and alberta could have both won.
a race to the bottom

[bucket]

Oilmen just played the premiers off each other because western Canada has had a lot of stupid premiers that don't know better. ...

It's always been the best strategy to threaten to leave the province. ...

[sawfly1]

exactly. in the end romanow blinked, had too for the sake of the province.
they just were too dumb in alberta to clue in.
that they were needlessly giving it away.

sask lost because we did not get the early development.
it was a good party for wall , 100$ oil
for a while.
and to show that the lowest royalty is the law .
wall , tried to steal the business from alberta, when the NDP got elected there.

just plain dumb

[bucket]

Wall begged the oil industry to come to Saskatchewan. ...don't you remember the letter writing campaign he did along with the perks he was offering up.....and to pay for those perks he taxed insurance premiums....

[the big wheel]

And so now they have enough people trained in sask and Alberta f you don't give it for nothing we ll go to
The next one. People with the oil jobs get stupid wages which is good I guess. But everyone else pay for it then and long after they leave. And so many with those jobs ended up foreclosed because it was too easy to get. Families destroyed drugs crime. And some worship
The ground of the industry while they were on the inside. But there really ought to be a considerate thought about how this all needs to play out for everyone and it can happen just need leaders with both brains and balls.

I would hope someone is investigating who got free shares in those companies to use the rest of us.

[sawfly1]

first lesson of business is , cutting prices destroys profits.
you do not see the price of canola seed, go down,
the companies have discipline. and they just go up.
not alberta and now sask. just cut each others throat.

and we did have an oil co. Sask oil . that could have returned like Norway's state oil co .
but no , think it was devine devine sold it off. just like potash

then you wonder why you're going broke.

[chuckChuck]

Norway's advantages are
1. The nation state owns the resource not the provinces so you don't have provinces competing against each other.
2. There was less resistance to state ownership and development of the resource by Stat Oil.
3. State ownership of Stat oil allows for the government to negotiate a hard bargain and then partner with private industry if necessary because if oil companies threaten to leave they lose out and Stat oil is there to fill the void.

Our proximity to the USA and the political and business influence of the USA and our irrational aversion to State owned companies pushed us politically to privatize development and investment in the oil and gas sector.

The short story is there was a lot of excess profit to be made and the oil industry lobbies hard to make sure they get the excess profit not the citizens.

It has been a golden opportunity that we have largely missed. We may have never duplicated Norway's experience but after all is said and done we have little to show for our massive reserves.

[Hamloc]

Norway's advantages are
1. The nation state owns the resource not the provinces so you don't have provinces competing against each other.
2. There was less resistance to state ownership and development of the resource by Stat Oil.
3. State ownership of Stat oil allows for the government to negotiate a hard bargain and then partner with private industry if necessary because if oil companies threaten to leave they lose out and Stat oil is there to fill the void.

Our proximity to the USA and the political and business influence of the USA and our irrational aversion to State owned companies pushed us politically to privatize development and investment in the oil and gas sector.

The short story is there was a lot of excess profit to be made and the oil industry lobbies hard to make sure they get the excess profit not the citizens.

It has been a golden opportunity that we have largely missed. We may have never duplicated Norway's experience but after all is said and done we have little to show for our massive reserves.

We did have Petro Canada which I believe the Chrétien Liberal's sold to private interests to help pay down Canada's debt. That would be the debt mostly accumulated by Pierre Trudeau and Brian Mulroney, both financially inept.

[Horse]

Back in Ralph time he said we don't need to get royalties, the worker are well paid so we will just tax them, that was a quote Mabry not word for word but the message was the same
Now I wonder how many of those kids living in dads basement you all talk about are oil workers waiting for that $500/day job to return??