Here is a link to my recent interview on CBC Radio 1 Wildrose Country on Premier Stelmach's royalty relief for conventional oil and gas drilling effective January 1, 2009
UPDATE: NOV 24/08 The Stelmach government announces TODAY that the royalty break announced Nov 19 for new drilling for wells after Jan 1, 2009 has been revised. It now applies to oil and gas wells that have started prep work as of Nov 19.
The delay in the program implementation in the original announcement would have done more short term harm than long term good because all current work on drilling plans would have stopped until January 1. Duh!
They say this royalty break "is not anticipated to affect the estimated royalty impact of the five-year program announced November 19, 2008." OK. I still want to ensure Albertans as owners get the straight goods on just how much it will exactly impact these non-renewable resource revenues going forward. Will our government tell us that exactly - along with all other production based royalty revenue calculations as well? They have indicated with pending legislation changes that we will not be able to FOIP that information. Not accountable. Not transparent and not good stewardship.
Now lets make it clear that only companies that are currently active in meeting their obligations to reclaim abandoned oil and gas plays are eligible for the royalty assistance. We need those oil and gas companies to clean up behind themselves just as much as we need to keep drilling folks.
Sunday, November 23, 2008
Harper is Sounding Progressive Again - But Can We Trust Him?
It is reassuring to hear Stephen Harper aligning and reaffirming the APEC leaders’ decision NOT to resort to raising protectionist barriers to world trade. He is quoted as saying “Now is the time for opening doors, not erecting walls.”
Reports from CanWest reporter David Akin noted that Harper commented that “…the Great Depression was caused by countries letting banks fail, allowing deflation to run rampant and trying to balance their books at all costs, even if it meant raising taxes and slashing public spending.” Harper is reported to all of a sudden favour “unprecedented fiscal actions…to stimulate economic growth and ease tightening credit conditions.” As if he wasn’t already spending taxpayers money at an alarming rate leading up to the election.
So the economist in Harper is stimulus Keynesian after all, notwithstanding his rhetoric about no deficits and smaller government in the election just a few weeks ago. Gotta love it when politics turns to pragmatism and order and good government becomes a goal of the Reform/Alliance leadership.
It is an open question as to what Harper is really doing and if we can ever believe him at face value. He often says one thing for political purposes, including pandering to his base or to Quebec for personal power plays. And then he does another, often the exact opposite when it suits him…and it happens all the time. Canadians need a truthful and transparent Prime Minister who says what he means – the first time – and for the purposes of sound public policy – not just personal power and message positioning.
He said that he would control Alberta’s bitumen exports to foreign countries based on a countries environmental standards and record. It was a clear shot at pandering to the Bush White House and an attempt to marginalize China in the process. It was all tied to the Bush excuses to delay or not institute climate change policies in North America because of attitudes towards China on environment. Not good public policy in the context of Harper’s resent statements of not being protectionist or raising trade barriers in the face of the growing economic crisis that is enveloping the entire planet.
It is important to note that APEC is a group of 21 Pacific Rim countries whose economic leaders have been meeting since its inception in 1989 in response to growing interdependence among Asia-Pacific economies; APEC has become the premier regional forum for promoting open trade and practical economic and technical cooperation among Asia-Pacific economies.
Over the years, it has grown to a membership spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, 56 percent of world GDP and nearly half of world trade.
It is a very vital forum for Canada and Alberta and B.C. in particular given our orientation to the Pacific Rim. We need the Pacific Rim countries to succeed for them to produce more trade and investments in our provinces, as well as providing continental energy supply and security.
I hope I can trust Harper at his word for a change, especially when he makes such practical and positive statements about governments taking initiatives to encourage trade. It is not his personal default position and it means he has to revise his attitude about the best government is no government and the marketplace should prevail to solve the problems of the world. That acceptance of an activist role and responsibility for government is a tectonic shift for Harper. I hope he means it and it is not just another piece of his continuing political positioning and posturing that he will once again either ignore or reverse on a whim.
Reports from CanWest reporter David Akin noted that Harper commented that “…the Great Depression was caused by countries letting banks fail, allowing deflation to run rampant and trying to balance their books at all costs, even if it meant raising taxes and slashing public spending.” Harper is reported to all of a sudden favour “unprecedented fiscal actions…to stimulate economic growth and ease tightening credit conditions.” As if he wasn’t already spending taxpayers money at an alarming rate leading up to the election.
So the economist in Harper is stimulus Keynesian after all, notwithstanding his rhetoric about no deficits and smaller government in the election just a few weeks ago. Gotta love it when politics turns to pragmatism and order and good government becomes a goal of the Reform/Alliance leadership.
It is an open question as to what Harper is really doing and if we can ever believe him at face value. He often says one thing for political purposes, including pandering to his base or to Quebec for personal power plays. And then he does another, often the exact opposite when it suits him…and it happens all the time. Canadians need a truthful and transparent Prime Minister who says what he means – the first time – and for the purposes of sound public policy – not just personal power and message positioning.
He said that he would control Alberta’s bitumen exports to foreign countries based on a countries environmental standards and record. It was a clear shot at pandering to the Bush White House and an attempt to marginalize China in the process. It was all tied to the Bush excuses to delay or not institute climate change policies in North America because of attitudes towards China on environment. Not good public policy in the context of Harper’s resent statements of not being protectionist or raising trade barriers in the face of the growing economic crisis that is enveloping the entire planet.
It is important to note that APEC is a group of 21 Pacific Rim countries whose economic leaders have been meeting since its inception in 1989 in response to growing interdependence among Asia-Pacific economies; APEC has become the premier regional forum for promoting open trade and practical economic and technical cooperation among Asia-Pacific economies.
Over the years, it has grown to a membership spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, 56 percent of world GDP and nearly half of world trade.
It is a very vital forum for Canada and Alberta and B.C. in particular given our orientation to the Pacific Rim. We need the Pacific Rim countries to succeed for them to produce more trade and investments in our provinces, as well as providing continental energy supply and security.
I hope I can trust Harper at his word for a change, especially when he makes such practical and positive statements about governments taking initiatives to encourage trade. It is not his personal default position and it means he has to revise his attitude about the best government is no government and the marketplace should prevail to solve the problems of the world. That acceptance of an activist role and responsibility for government is a tectonic shift for Harper. I hope he means it and it is not just another piece of his continuing political positioning and posturing that he will once again either ignore or reverse on a whim.
Saturday, November 22, 2008
Masters of the Universe Icons of Commerce Prove to be Just Greedy Bastards at the End of the Day
There are so many things wrong with the world today. The comfortable lightness of being Canadian, and especially being Albertan, is not making us immune from the harsh realities that are about to befall from the world-wide market meltdown.
Canadians should never forget that Harper lied to us about the pending recession during the last election with his promises of never allowing a deficit and now he is accepting one. He also lied when he said we would escape the economic impact of the American induced financial crisis based on our best of breed amongst a bad lot in the global banking system.
Thank to Kevin Page's honest and professional assessment of the Canadian economic reality, it will be more difficult for the Harper government to continue to lie and mislead use about the fiscal facts facing Canada in the economic update expected later this week.
I am astonished that the corporatist Masters of the Universe types, Detroit's "big three" Chapter would be so self-absorbed and unaware. How they handled their recent bailout bumbling in Washington this past week shows just how indifferent and unaware they are of the real world of the rest of us. I can see no reason to justify a bailout of the automotive sector under the current circumstances. If the free market system is to be free, it has to be free to fail. Lets not see governments try to pick winners with public investments that interfere in the marketplace realities. Where will it stop? We in Alberta know first hand it will not work based on past experiences.
I have some stomach for the taxpayer buyouts of some of the banking business bozos. I can even accept the planning shift of TARP away from buying the bogus paper these bastards pushed out the doors for bloated fees and foolishness. Still, letting some financial institutions fail like Bears Stearns and Lehman Brothers is a good thing.
Trying to restore confidence in financial sectors by buying equity positions that essentially nationalized the American financial sector is a necessity to ensure some semblance of a working market place for everyone. That said, it has yet to be proven effective. For example, Citigroup got $25B of bailout money and promptly dropped 23% of stock market value - in one day. This once enormous bank is cutting 52,000 jobs and now has a market capitalization smaller than Home Depot.
So much also for asinine assurances and the mistaken mythological around sound conservative economic management capabilities that inappropriately inure to the Republican Party. They have methodically removed the role of good government and the capacity and flexibility of any government to be reasonably responsive to the worldwide financial crises the Bush White House has aided and abetted.
They have removed required regulatory oversight, instituted low taxes for the rich, were the biggest of tax spenders and have proven to be accomplished deficit builders and incredibly inept fiscal managers. Canadians must never forget that our own Artless Dodger, “Steve” Harper is a disciple of the new-Republican economic strategy - and there is no evidence he has changed.
We have all these indifference greedy and gouging corporate executives pocketing huge personal fortunes all under the guise of socially, environmentally sustainble wealth creation and myths of increased shareholder value in “free” enterprise model. They are now proven to be just plain greedy and reckless at best…profoundly irresponsible and perhaps criminal at worst.
As the recession sets in next year we will see more children remain or be reduced to poverty as their families fail to be able to provide the necessities of life for them to escape the rut of economic want and the social and personal tragedies that are inevitable to at risk kids. Child poverty ha s not improved in a generation where economic growth has been the highest and longest sustained period in history. Child mental health is also a national disgrace and bound to get worse. This is thanks in large part to the personal and institutional greed of these fat cats who are proven to be reckless, feckless and check less, thanks AGAIN to bad politicians with a penchant for irresponsible deregulation coupled with shortsighted and short term policy perspectives.
From now on I am only going to invest in ethical corporations with leadership that sees business as having a social, environmental and wealth creation value set…not just growth at any cost. I am going to call out anyone I see irresponsibly running a public or private enterprise contrary to the greater public good as well as producing shareholder value.
Canadians should never forget that Harper lied to us about the pending recession during the last election with his promises of never allowing a deficit and now he is accepting one. He also lied when he said we would escape the economic impact of the American induced financial crisis based on our best of breed amongst a bad lot in the global banking system.
Thank to Kevin Page's honest and professional assessment of the Canadian economic reality, it will be more difficult for the Harper government to continue to lie and mislead use about the fiscal facts facing Canada in the economic update expected later this week.
I am astonished that the corporatist Masters of the Universe types, Detroit's "big three" Chapter would be so self-absorbed and unaware. How they handled their recent bailout bumbling in Washington this past week shows just how indifferent and unaware they are of the real world of the rest of us. I can see no reason to justify a bailout of the automotive sector under the current circumstances. If the free market system is to be free, it has to be free to fail. Lets not see governments try to pick winners with public investments that interfere in the marketplace realities. Where will it stop? We in Alberta know first hand it will not work based on past experiences.
I have some stomach for the taxpayer buyouts of some of the banking business bozos. I can even accept the planning shift of TARP away from buying the bogus paper these bastards pushed out the doors for bloated fees and foolishness. Still, letting some financial institutions fail like Bears Stearns and Lehman Brothers is a good thing.
Trying to restore confidence in financial sectors by buying equity positions that essentially nationalized the American financial sector is a necessity to ensure some semblance of a working market place for everyone. That said, it has yet to be proven effective. For example, Citigroup got $25B of bailout money and promptly dropped 23% of stock market value - in one day. This once enormous bank is cutting 52,000 jobs and now has a market capitalization smaller than Home Depot.
So much also for asinine assurances and the mistaken mythological around sound conservative economic management capabilities that inappropriately inure to the Republican Party. They have methodically removed the role of good government and the capacity and flexibility of any government to be reasonably responsive to the worldwide financial crises the Bush White House has aided and abetted.
They have removed required regulatory oversight, instituted low taxes for the rich, were the biggest of tax spenders and have proven to be accomplished deficit builders and incredibly inept fiscal managers. Canadians must never forget that our own Artless Dodger, “Steve” Harper is a disciple of the new-Republican economic strategy - and there is no evidence he has changed.
We have all these indifference greedy and gouging corporate executives pocketing huge personal fortunes all under the guise of socially, environmentally sustainble wealth creation and myths of increased shareholder value in “free” enterprise model. They are now proven to be just plain greedy and reckless at best…profoundly irresponsible and perhaps criminal at worst.
As the recession sets in next year we will see more children remain or be reduced to poverty as their families fail to be able to provide the necessities of life for them to escape the rut of economic want and the social and personal tragedies that are inevitable to at risk kids. Child poverty ha s not improved in a generation where economic growth has been the highest and longest sustained period in history. Child mental health is also a national disgrace and bound to get worse. This is thanks in large part to the personal and institutional greed of these fat cats who are proven to be reckless, feckless and check less, thanks AGAIN to bad politicians with a penchant for irresponsible deregulation coupled with shortsighted and short term policy perspectives.
From now on I am only going to invest in ethical corporations with leadership that sees business as having a social, environmental and wealth creation value set…not just growth at any cost. I am going to call out anyone I see irresponsibly running a public or private enterprise contrary to the greater public good as well as producing shareholder value.
Sunday, November 16, 2008
Harper Dances with Deficits
What a difference a week makes. What a difference a month makes. A week ago Prime Minister Harper was convening a Seinfeld-like First Minister’s meeting on the economy and offering nothing and the discussions were about as equally energizing as to what to do. But he can say he consulted with the Provinces before he makes his anticipated unilateral decisions. Stelmach was right to stay in Europe and his offer to “phone it in” made sense when we see the results of what was a three hour exercise in political – not economic - process.
In the election Harper was skillfully man-handling the Liberals and manipulating the media with the old saw of Liberals being taxers and spenders. He was carpet bombing the messaging and describing the dire warnings that would result from a Liberal vote. To let the likes of Dion, as advised by Paul Martin, would be risking deficits...and that, we were told, was a risk that was not worth taking.
The Harper Cons campaign mantra was that the economic fundamental of the country is strong and Canada was going to be OK in the face of the market meltdown. He milked the symbolism of a small group of banking insiders ranking the Canadian banking system as the best of a bad bunch. A 60 second reflection on that “positive news” was hardly reassuring.
Since then Harper has made $75B of taxpayer’s cash available to those excellently run banks so they could have some bad loans bought up. This is to convince the banks to start lending again.
So far the banks have not taken up any of this Harper largess with our tax money. The prime lending rate has been cut and cut again and the Bank of Canada has also injected more liquidity in the Canadian banking system. Now he is poised to bail out the automotive industry in consort with the lane-duck Bush bunch. It all seems so Trudeauesque, who equally failed years ago to convince us with his election rhetoric and silly sloganeering that “The Land is Strong.”
Now Harper is backtracking on his infamous fiscal frugality and flirting with deficit spending coming out of the G20. Of course government should be spending for infrastructure and to create jobs and cash flow in such tough times. Especially when the banks and business will not, or cannot, step up to the plate to do so. But why did the Prime Minister mislead us during the election campaign over instituting such an obvious means to address such serious matters? Is it because Harper thinks that Kim Campbell was actually right? That election campaigns are not the place to discuss issues of significant concern to the country?
If you looked up mendacity in the dictionary you should not be surprised if you were to see Steven Harper’s picture. Harper has proven himself to be a shrewd and canny campaigner and a powerful political enforcer. He has a long way to go to prove himself as a good governor but the times are begging for such leadership. As for Harper becoming a statesman, one has to wonder if he is even slightly interested or capable of such status given his purpose and passion for personal political power.
In the election Harper was skillfully man-handling the Liberals and manipulating the media with the old saw of Liberals being taxers and spenders. He was carpet bombing the messaging and describing the dire warnings that would result from a Liberal vote. To let the likes of Dion, as advised by Paul Martin, would be risking deficits...and that, we were told, was a risk that was not worth taking.
The Harper Cons campaign mantra was that the economic fundamental of the country is strong and Canada was going to be OK in the face of the market meltdown. He milked the symbolism of a small group of banking insiders ranking the Canadian banking system as the best of a bad bunch. A 60 second reflection on that “positive news” was hardly reassuring.
Since then Harper has made $75B of taxpayer’s cash available to those excellently run banks so they could have some bad loans bought up. This is to convince the banks to start lending again.
So far the banks have not taken up any of this Harper largess with our tax money. The prime lending rate has been cut and cut again and the Bank of Canada has also injected more liquidity in the Canadian banking system. Now he is poised to bail out the automotive industry in consort with the lane-duck Bush bunch. It all seems so Trudeauesque, who equally failed years ago to convince us with his election rhetoric and silly sloganeering that “The Land is Strong.”
Now Harper is backtracking on his infamous fiscal frugality and flirting with deficit spending coming out of the G20. Of course government should be spending for infrastructure and to create jobs and cash flow in such tough times. Especially when the banks and business will not, or cannot, step up to the plate to do so. But why did the Prime Minister mislead us during the election campaign over instituting such an obvious means to address such serious matters? Is it because Harper thinks that Kim Campbell was actually right? That election campaigns are not the place to discuss issues of significant concern to the country?
If you looked up mendacity in the dictionary you should not be surprised if you were to see Steven Harper’s picture. Harper has proven himself to be a shrewd and canny campaigner and a powerful political enforcer. He has a long way to go to prove himself as a good governor but the times are begging for such leadership. As for Harper becoming a statesman, one has to wonder if he is even slightly interested or capable of such status given his purpose and passion for personal political power.
Saturday, November 15, 2008
Cannon Speaks About Dealing Aberta's Oil - Does Harper Know?
Is Stephen Harper turning into a progressive? He tells the CPC delegates to get pragmatic and not ideological about the economic crisis. Sounds like a prelude to government intervention into the marketplace by the Progressive Reformer leader. How unlike the free enterprise base of the Reform/Alliance base that “brung Harper to the dance” as former Prime Minister Mulroney would say.
The Cons through Foreign affairs Minister Cannon are now saying “…there is no ideological right or ideological left” as they try an distance themselves from the sycophantic relationship they had with the Bush/Cheney White House. Bush is gone. McCain lost. Harper is dancing as fast as he can to shape shift his ideological stripes. Disingenuous is the kindest characterization of this continuing political shiftiness of "Steve" Harper.
On the other hand he has his Minister of Foreign Affairs Lawrence Cannon making front page news in Alberta saying ever so unsubtly to the Obama administration-in-waiting that “Canada might sell it oil elsewhere” if the new American administration under Obama decides to renegotiate NAFTA. What about the fact NAFTA is due for a renegotiation under its own terms anyway? Maybe a review is a good thing - like to get a redo of the disastrous deal the Cons did to the Canadian forest industry on softwood lumber.
Hey Jack! Yah you…Jack Layton! Are you supporting Harper on this no renegotiation of NAFTA stuff? Does Maude Barlow have you r direct line? I expect she is on your case. The Liberals are not going to bolster the Conservative minority anymore. Are you going to stand for this or are you going to force another early election because your ideological position is that NAFTA is plain bad-bad-bad.
This new Harper government rhetoric is flying in the face of the election position of Harper saying he would control the sale of oil sands bitumen based on environmental standards…a shot at restricting Chinese participation and favouring the American market. Stelmach clearly told Harper to back off Alberta’s oil marketing rights during the recent federal election.
Has Cannon gone Palin rogue and is off message as well as his rocker? What is he doing talking about this to the media on anything anyway? That is exclusively Harper’s job – or his Presidential-like official spokesperson at the very least Is Cannon the Quebecer playing the regional environment card and focusing on the so-called “dirty oil” framing that is so harmful to Alberta’s interests and benefiting Quebec?
What about the niggling little legal and constitutional points that none of this is “Canada’s oil”? It belongs to Alberta, B.C., Saskatchewan, Nova Scotia and Newfoundland-Labrador. Alberta has asked to be at the table with the Feds in all such discussion around the international implications involving its resources. Harper has been busy and has not replied yet…or listing to canon – has he?
Add in the other central themes on climate change, market meltdown, government bailouts and a world- wide recession and the tendency to take the Alberta conservative support for granted and I’m betting the backrooms between Edmonton and Ottawa are going to get very interesting and very loud and extremely intense.
The Cons through Foreign affairs Minister Cannon are now saying “…there is no ideological right or ideological left” as they try an distance themselves from the sycophantic relationship they had with the Bush/Cheney White House. Bush is gone. McCain lost. Harper is dancing as fast as he can to shape shift his ideological stripes. Disingenuous is the kindest characterization of this continuing political shiftiness of "Steve" Harper.
On the other hand he has his Minister of Foreign Affairs Lawrence Cannon making front page news in Alberta saying ever so unsubtly to the Obama administration-in-waiting that “Canada might sell it oil elsewhere” if the new American administration under Obama decides to renegotiate NAFTA. What about the fact NAFTA is due for a renegotiation under its own terms anyway? Maybe a review is a good thing - like to get a redo of the disastrous deal the Cons did to the Canadian forest industry on softwood lumber.
Hey Jack! Yah you…Jack Layton! Are you supporting Harper on this no renegotiation of NAFTA stuff? Does Maude Barlow have you r direct line? I expect she is on your case. The Liberals are not going to bolster the Conservative minority anymore. Are you going to stand for this or are you going to force another early election because your ideological position is that NAFTA is plain bad-bad-bad.
This new Harper government rhetoric is flying in the face of the election position of Harper saying he would control the sale of oil sands bitumen based on environmental standards…a shot at restricting Chinese participation and favouring the American market. Stelmach clearly told Harper to back off Alberta’s oil marketing rights during the recent federal election.
Has Cannon gone Palin rogue and is off message as well as his rocker? What is he doing talking about this to the media on anything anyway? That is exclusively Harper’s job – or his Presidential-like official spokesperson at the very least Is Cannon the Quebecer playing the regional environment card and focusing on the so-called “dirty oil” framing that is so harmful to Alberta’s interests and benefiting Quebec?
What about the niggling little legal and constitutional points that none of this is “Canada’s oil”? It belongs to Alberta, B.C., Saskatchewan, Nova Scotia and Newfoundland-Labrador. Alberta has asked to be at the table with the Feds in all such discussion around the international implications involving its resources. Harper has been busy and has not replied yet…or listing to canon – has he?
Add in the other central themes on climate change, market meltdown, government bailouts and a world- wide recession and the tendency to take the Alberta conservative support for granted and I’m betting the backrooms between Edmonton and Ottawa are going to get very interesting and very loud and extremely intense.
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