Thursday, March 12, 2009

Alberta Economy shows most shrinkage!

Alberta has been grossly mismanaged. Rather than invest windfall royalty back into this province this Government has elected to plough the profits back into reduced royalty rates.

At 19% Canadian, the rates are the lowest in the world but because of the nature of stock, very little is returned to the province.

Alberta's conventional oil is now a "mature" resource. Deep wells and directional drilling are expensive. Using captured carbon to access deep well reserves is a good plan but will take years to get on line.

Now in recession or worse with a Government that has only experience in mega surplus non budget performance, we see the fruits of our labours.

I personally don't think this crew could manage a lemonade stand!
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