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Thursday, May 14, 2009
Monday, May 04, 2009
Alberta on the verge of broke!
Yes, it is a sign of our economic health in this province.
First, we seen the trial balloon on Alberta Bonds. Governments issue bonds to raise money usually when they are broke. If this Government was in the least interested in putting money into Alberta pockets, they would increase the royalty to the same level that BC and Saskatchewan are. Instead we remain 35% below them. Over 20 Billion dollars of revenue that should have been in Alberta coffers has gone to the oil and gas companies!
Short of cash they hit on the poor and frail first. Cut rent assistance's.
The rents have not come down in Alberta. The only thing that has changed is a lot of people have gone home to other parts of Canada.
Short of cash they put in a new level of sin taxes.
Short of cash they increased the Blue Cross rates.
Short of cash the use the opportunity to activate some of the long sitting lists on what not to cover through Alberta Health care. Those of you out there that think this is a senior problem, think again. It is the first step into your pockets as well.
The list goes on. The bottom line is the Conservatives has driven the province into the ground through financial mismanagement. We make more on gambling than we do on resources.
Short on cash they bleed the Heritage Trust fund; the Sustainabilty fund and I think even the pensions will be used to finance opeations before this show is over.
Even the usually politically blind and deaf conservatives should be shaking their heads now.
Dig in! The worse is yet to come!
First, we seen the trial balloon on Alberta Bonds. Governments issue bonds to raise money usually when they are broke. If this Government was in the least interested in putting money into Alberta pockets, they would increase the royalty to the same level that BC and Saskatchewan are. Instead we remain 35% below them. Over 20 Billion dollars of revenue that should have been in Alberta coffers has gone to the oil and gas companies!
Short of cash they hit on the poor and frail first. Cut rent assistance's.
The rents have not come down in Alberta. The only thing that has changed is a lot of people have gone home to other parts of Canada.
Short of cash they put in a new level of sin taxes.
Short of cash they increased the Blue Cross rates.
Short of cash the use the opportunity to activate some of the long sitting lists on what not to cover through Alberta Health care. Those of you out there that think this is a senior problem, think again. It is the first step into your pockets as well.
The list goes on. The bottom line is the Conservatives has driven the province into the ground through financial mismanagement. We make more on gambling than we do on resources.
Short on cash they bleed the Heritage Trust fund; the Sustainabilty fund and I think even the pensions will be used to finance opeations before this show is over.
Even the usually politically blind and deaf conservatives should be shaking their heads now.
Dig in! The worse is yet to come!
Saturday, May 02, 2009
Alberta Bonds - Stay clear of the house of cards.
CCWhy would you put more money into the hands of a group of people who have lied their way into every election and have sold this province out from under you for only a few pennies on a dollar of value? Surly you can find a more honest group to invest your money with!
Alberta has the lowest royalty rates in the world, bar none! This means Albertans are getting less for their resource than any other country on earth!
In order to keep this province functioning they have to dig into gambling and habits for revenue. If there happens to be a plus balance at the end of the year, that is attributed to windfall profits. Such Crap!
Alberta Royalty is further reduced with "trade in kind" as buy bitumen from the tar sands at the going bitumen rates then, sell it to the up graders (probably an arm of the same company) at cut rates so the up graders can show quick profit.
The difference is what the taxpayer will again be shorted even more on royalty! Couple this with the new legislation in place that says the Alberta Government does not have to disclose the royalty charged mean they either have no idea what the bottom line will be or it is so shameful they want to keep it a secret.
Carbon sequestration starting out with 2 billion of taxpayer dollars. I have come to see capture and trade as being an ever larger scam for companies to move money between jurisdictions without paying taxes. I would think there is a lot of inventive book keeping when this is over!
Consider - carbon is put down a hole, any place. Then it is used as a solvent to extract crude from the same hole or is transported to another conventional site . It comes back up the hole with the oil.
Companies can take credits for sequestering and claim new production because of new technology and market it as green, conventional with a lower carbon footprint.
I don't think it is a good idea to invest in anything this crew comes up with they are simply lining their own pockets. I sure as hell don't think playing the carbon sequester game in stocks is a worth while endeavor. In Montana for instance, they plan on putting the carbon down into a natural dome, underground. Then they plan on building a pipe line to move the carbon from this dome to the oil shale project with a view of using it the same as Saskatchewan does.
It is only a matter of time until we hear of workers being overcome by carbon dioxide while drilling for oil.
Alberta has the lowest royalty rates in the world, bar none! This means Albertans are getting less for their resource than any other country on earth!
In order to keep this province functioning they have to dig into gambling and habits for revenue. If there happens to be a plus balance at the end of the year, that is attributed to windfall profits. Such Crap!
Alberta Royalty is further reduced with "trade in kind" as buy bitumen from the tar sands at the going bitumen rates then, sell it to the up graders (probably an arm of the same company) at cut rates so the up graders can show quick profit.
The difference is what the taxpayer will again be shorted even more on royalty! Couple this with the new legislation in place that says the Alberta Government does not have to disclose the royalty charged mean they either have no idea what the bottom line will be or it is so shameful they want to keep it a secret.
Carbon sequestration starting out with 2 billion of taxpayer dollars. I have come to see capture and trade as being an ever larger scam for companies to move money between jurisdictions without paying taxes. I would think there is a lot of inventive book keeping when this is over!
Consider - carbon is put down a hole, any place. Then it is used as a solvent to extract crude from the same hole or is transported to another conventional site . It comes back up the hole with the oil.
Companies can take credits for sequestering and claim new production because of new technology and market it as green, conventional with a lower carbon footprint.
I don't think it is a good idea to invest in anything this crew comes up with they are simply lining their own pockets. I sure as hell don't think playing the carbon sequester game in stocks is a worth while endeavor. In Montana for instance, they plan on putting the carbon down into a natural dome, underground. Then they plan on building a pipe line to move the carbon from this dome to the oil shale project with a view of using it the same as Saskatchewan does.
It is only a matter of time until we hear of workers being overcome by carbon dioxide while drilling for oil.
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