Monday, February 25, 2013

Bubble Warnings Ignored!!!

The term "Bitumen Bubble" is the Conservative attempt to hide the fact that all the oil leaving this province is discounted, not just the crude from the tar sands!

The Conservative Government has betrayed the people of this province time and again.  Now its to the forefront.  As outlined in the article they have known for years what was coming and did nothing to mitigate the circumstance!

The picture is even more bleak than the Journal article indicates, the Journal is being very kind to the Government!

The royalty regime pays us nothing until the price of oil hits impossible highs.  It is designed so there will never be a royalty collected!

The Conservatives have elected to discount our oil, not just the tar sands but all oil that goes down the pipelines by 30%.  This is an elected position; not one they were forced into!

CAPP tells us that conventional oil has passed peak its on its way down now output expected to be 50% what it is now within 5 years.

The only way they can get more is through this so called CCS program!  By flushing the strata with a mixture of water and carbon dioxide much more oil can be taken out; huge amounts. Carbon Dioxide goes down one hole and up the next.

This is 40 year old technology used extensively in the US!  Why then, are taxpayers burdened with billion plus for experimental proving of the technology?  This is still another betrayal of the people by this Government!

The point is; your resource is gone and you have not received one cent for it since Lougheed left!

When Klein took office royalty was at 30% when he left office it was a 16% and has been in free fall since then with Ron Liepert telling us the royalty was dropped to 6% and would stay there until it went to zero; predicted in 5 years.

The Revenue this Government talks about is the taxes paid by the oil industry and spin offs in general.  

In the platform of the Conservatives and the Wild Rose Party the oil resource companies own the resource!  Alberta is entitled to taxes and land sales; no more!

Her speech (not covered here) she tells us she will put emphasis on new business other than oil.

The Alberta Advantage was our electricity!  When it was privatized and put on a market basis the prices jumped forcing all the "other than" business from this province.  

Sunland Biscuits (Yellowhead Trail) was shipping 15 trailer loads of cookies to Bramalea every day.  With the electric price they closed their doors and moved to Bramalea.  Soon we had oil or nothing and the fringe business struggled in a province which has an output of oil second only to Saudi Arabia! (As told us by this same Government on several occasions).

Now they are telling us new power lines are going to increase out utility bills by 20 to 40 dollars per month (times 1.5 million homes) and business rates will go up several hundreds.  

This will effectively wipe out the remaining non oil industry!  

Redford would not have gone to the US unless she knew first hand and definitely the Keystone was a Go!  She is now waiting to take the bows when the deal is inked.

If your business is doing "OK" how much better would it have been had you been playing with a full deck?   Lost your home? Same deal.  Over 40 billion dollars a year of Alberta revenue is shipped down those pipelines faster than bank transfers! 

To make it much worse the petroleum industry is meddling in our politics as if we were a banana republic!

Here is a list of links which details much of the above.

Points out years of advance notice which this government did nothing to mitigate.

Rem Journal Article on Oregon Health:

Alberta Parks sold:

Rem Total Summary of PNWER

Rem: Bubble Graphics.

I'll finish of by saying I am very disappointed in the Alberta Liberal Party who are sitting on their hands on this with Mr. Taft's policies firmly in place.  Somehow; we will come up the center doing nothing.  I can assure them if they continue this course I will be all over them like ugly on a dog!

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