Trump is going to use the Venezuelan heavy sour crude to force Alberta into reducing its oil royalties; the so-called “Alberta Advantage”… This might force Alberta to raise taxes, create a provincial sales tax and/or to run a large deficit.
Up to 23% to 30% of the Alberta government’s revenues are attributable to the oil&gas royalties (depending on oil price).
In contrast, in Quebec electricity dividends account for only 1.65% of the provincial revenues.
With greatly reduced oil royalties, Alberta will struggle and might even qualify for Equalization and it might be Quebec, Ontario and BC paying for Alberta’s Equalization.
CptCoatrack on
The one silver lining I can see to this is that it will encourage us to finally pursue something other than the dead end oil industry.
People need to wake up to the fact that the fight against fascism, imperialism, climate change, and the oil industry are the same thing.
People complain about traitors like the UCP who are bought and paid for by the oil industry and then think the solution is to give more money away to the industry that they can use to buy, bribe, and manipulate more politicians. The oil industry that would rather tear apart Canada, colonize S. America, plant fascist leaders in Europe, and live under an American christo-fascist empire before we all die of war and climate catastrophe’s than lose a single bloody cent.
CzechUsOut on
We supply the Midwest refineries with 4 million bpd of heavy oil by pipeline. Venezuelas oil sector needs $100B and a decade of infrastructure development before they are able to put those kinds of numbers out. Even then how are they going to get it to the Midwest, another 10’s of billions in pipelines that don’t exist yet? This is all fear mongering and people are eating it up.
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Trump is going to use the Venezuelan heavy sour crude to force Alberta into reducing its oil royalties; the so-called “Alberta Advantage”… This might force Alberta to raise taxes, create a provincial sales tax and/or to run a large deficit.
Up to 23% to 30% of the Alberta government’s revenues are attributable to the oil&gas royalties (depending on oil price).
In contrast, in Quebec electricity dividends account for only 1.65% of the provincial revenues.
With greatly reduced oil royalties, Alberta will struggle and might even qualify for Equalization and it might be Quebec, Ontario and BC paying for Alberta’s Equalization.
The one silver lining I can see to this is that it will encourage us to finally pursue something other than the dead end oil industry.
People need to wake up to the fact that the fight against fascism, imperialism, climate change, and the oil industry are the same thing.
People complain about traitors like the UCP who are bought and paid for by the oil industry and then think the solution is to give more money away to the industry that they can use to buy, bribe, and manipulate more politicians. The oil industry that would rather tear apart Canada, colonize S. America, plant fascist leaders in Europe, and live under an American christo-fascist empire before we all die of war and climate catastrophe’s than lose a single bloody cent.
We supply the Midwest refineries with 4 million bpd of heavy oil by pipeline. Venezuelas oil sector needs $100B and a decade of infrastructure development before they are able to put those kinds of numbers out. Even then how are they going to get it to the Midwest, another 10’s of billions in pipelines that don’t exist yet? This is all fear mongering and people are eating it up.