Alberta's Financial Abyss . . . .

[Horse]

All politics aside. MERRY CHRISTMAS everyone.

[grassfarmer]

Could very well be as you described, I don't know but isn't that exactly the left wing social system in a nutshell?? .......You should be happy with that! LOL.

No, I've never been one to like the average person being robbed regardless of whether it's a "left wing social system" or deregulated Corporate Communism. I oppose both of them vehemently.

[Guest]

Why blame Quebec for Alberta's mismanagement? LOL The equalization program is paid for with federal taxes collected in every province. Federal taxes still have to be paid regardless of how federal programs work. So Your argument is full of shit.

Actually your argument is right full of shit . You dont think its odd that quebec has collected every year since inception ??? Its called abuse of the system

[tweety]

Critics Slam Alberta's New Royalty Review as Policy Disaster

https://thetyee.ca/News/2016/02/02/Alberta-Royalty-Review-Disaster/

"In another submission, the economist Mark Anielski reported how the province would have benefited if it had kept Lougheed's approach to a robust and healthy royalty regime.

"Had Alberta maintained a 30 per cent royalty rate on the share of the value of the oil and gas produced between 1971 to 2014, Albertans would have generated $471.4 billion in oil and gas royalties. Had 50 per cent of these royalties been invested in the Alberta Heritage Savings and Trust Fund with annual average return of five per cent per annum we would now have an investment account worth over $481 billion."

The current savings fund holds less than $20 billion." [Tyee]

Alberta's resources have been mismanaged for decades after Lougheed.

Anyone care to debate that this post is wrong? Good luck with that!

Another great question, what would the Cons have done differently the past 2 years? They certainly never did anything to prepare for the inevitable crash in pittance of royalties rec'd even when times were good.

Its pretty easy to glaze over the problem and make up fairy tales of what another could be doing. Certainly a defense mechanism to avoid reality.

[LEP]

Anyone care to debate that this post is wrong? Good luck with that!

Another great question, what would the Cons have done differently the past 2 years? They certainly never did anything to prepare for the inevitable crash in pittance of royalties rec'd even when times were good.

Its pretty easy to glaze over the problem and make up fairy tales of what another could be doing. Certainly a defense mechanism to avoid reality.

Actually, it is a huge fallacy that you can significantly increase royalties (taxes) and have no change on output. So this study is a fairy tale. A complete myth.

Not saying royalties shouldn't have been higher, but to look back and say if we only doubled royalties we would have had double the revenue is complete bunk.

[tweety]

completely mismanaged doesn't help the situation. Giving it away doesn't help albertans either. The PC's lost their way because it was a desperation vote by a lot of very pissed off Albertans of complete ineptness on the PC part. Redford was the final straw.

[sumdumguy]

Actually your argument is right full of shit . You dont think its odd that quebec has collected every year since inception ??? Its called abuse of the system

Think the equalization formula is rigged against the West and slanted toward Quebec? Think Quebec income exempts certain lucrative industries? Only way to really eliminate the problem is to succeed from the country, as in Adios Amigos.

[Guest]

Think the equalization formula is rigged against the West and slanted toward Quebec? Think Quebec income exempts certain lucrative industries? Only way to really eliminate the problem is to succeed from the country, as in Adios Amigos.

Wouldnt that be a sweet moment

[Hamloc]

completely mismanaged doesn't help the situation. Giving it away doesn't help albertans either. The PC's lost their way because it was a desperation vote by a lot of very pissed off Albertans of complete ineptness on the PC part. Redford was the final straw.

I think Tweety your not going far enough back in history. The oil price collapsed in 1985 and Alberta started to accumulate debt. If I remember correctly having lived through those years in Alberta, the royalty regime was first modified under Don Getty in an attempt to attract the oil development dollars back to Alberta that had left under the NEP. As for Ralph Klein he was a victim of his own success. His tax changes that quickly increased oil developement and attracted 10's of thousands of workers to Alberta put a strain on public services like health and education. The PC's didn't react quick enough and didn't make the tax changes necessary to fund them. As for your assertion on royalties at 30%, the present royalty regime peaks at 40% on conventional oil. The royalties on oilsands bitumen are far lower, can and should these be changed, good question. To a some extent tax measures implemented by government are a reflection of the opinions of the populous, hence the lack of a sales tax in Alberta. As for the carbon tax, Albertan's didn't get a chance to vote on that yet, that will occur in the next election.