Wednesday, January 07, 2009

Alberta Oil News is no news at all!

The Calgary Harold is the most biased, most useless rag in the province if you are looking for information.

Two Examples today:
One misleading quote: “That might work in normal times, but industry leaders are deeply pessimistic these breaks will encourage much new activity in today's bleak conditions.”

They make no effort to explain exploration is down to zero around the world right now. Instead, they would have you believe it has something to do with the new Energy plan. Also note that the Alberta Government doesn’t release these BS enlightenments in papers that allow public opinion.

And another one:

Knight, however, argued Alberta isn't in "any danger"of collecting less royalties under the new system as opposed to the old one.
The controversial royalty plan, which took effect Jan. 1, was announced in the fall of 2007 after a government-appointed expert committee said Albertans weren't receiving "their fair share" of energy development.

In this article they pan the Canadian Dollar royalty like it has been in there forever! Such crap!
The royalty was switched from US to Canadian last September away from the public eye when exchange between the US and Canadian dollars was at par.

How in Knights wildest dreams can he expect a point for point change in royalty percentage to make up for the direct 20% loss in exchange? He can’t! It is still another lie.

They have mismanaged this economy drastically. That exchange slight of hands costs Albertans 8 to 12 billions of dollars per year! Think of that when they start laying off and cutting programs.
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