Economy/Recession

[eclipse1966]

based on that, Norway produces less oil than we do (I believe 1/2 of that). They are sitting on almost a trillion dollars of a fund. Quebec has received equalization payments since the mid '50 of over 200 billion which comes not only from AB but all provinces. Even if it came all from AB we should have just under 800 billion left over.

Wonder if Norway had to transfer vast sums of its wealth to other regions ??


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[Bnorth]

based on that, Norway produces less oil than we do (I believe 1/2 of that). They are sitting on almost a trillion dollars of a fund. Quebec has received equalization payments since the mid '50 of over 200 billion which comes not only from AB but all provinces. Even if it came all from AB we should have just under 800 billion left over.

Oil in Norway is far more lucrative than in AB. Oil sands are some of the most expensive and energy intensive extraction around. Deep sea is no cake walk but sweet crude is still much preferred.

 

[eclipse1966]

agreed but still we have a HUGE gap in money stashed away in a fund compared to Norway.

Oil in Norway is far more lucrative than in AB. Oil sands are some of the most expensive and energy intensive extraction around. Deep sea is no cake walk but sweet crude is still much preferred.

 

[Bnorth]

agreed but still we have a HUGE gap in money stashed away in a fund compared to Norway.

for sure as with most of Canada's natural resources it has been totally mismanaged with a poor royalty structure.

 

[Summitric]

If norway split their oil pot of $905,000,000,000 between their population of 5.1billion, each citizen would receive $177,451 each.... Nice

 

[eclipse1966]

that would be awesome to receive money from the government for once instead of paying them. They also have free education and day care as well. That is a huge benefit to the people.

If norway split their oil pot of $905,000,000,000 between their population of 5.1billion, each citizen would receive $177,451 each.... Nice

 

[SamStorm]

Alberta oil is also landlocked. No way to get to market so its also priced at a discount. Norway has access to the ocean so shipping is no problem for them.
Maybe if we could get a pipeline built the price for Alberta oil will go up some.

 

[adamg]

Alberta oil is also landlocked. No way to get to market so its also priced at a discount. Norway has access to the ocean so shipping is no problem for them.
Maybe if we could get a pipeline built the price for Alberta oil will go up some.

Good luck with that. Literally every province and state is against you, as best I can tell.

 

[smokinD]

that would be awesome to receive money from the government for once instead of paying them. They also have free education and day care as well. That is a huge benefit to the people.

They have that free chit in Quebec also lol!!

 

[1901306708]

The secret to prospering in alberta is to have a long memory

we have every advantage. notley et al are not helping, but we had a real good run. and another will come sooner or later. dont blow the next one too.

 

[Cdnfireman]

Oil in Norway is far more lucrative than in AB. Oil sands are some of the most expensive and energy intensive extraction around. Deep sea is no cake walk but sweet crude is still much preferred.

Id say it's probably close to beng a wash as far as production costs go. I worked in the Norwegian sector of the North Sea for almost two years on semi-sub rigs and can tell you that production costs per hole there are extremely high. The quality of their oil is better and is easier to sell, but they don't get the amount or variance of by-products that Alberta has, eg NGL's, gas, sulphur etc. These all add value to bottom line. Remember that there's much more to Alberta than just the oil sands.

Where the Norwegians are better off is that there's no competing interests within the country that stifle resource development and provinces that demand money unreasonably (Quebec). They also don't have regions in the country that are deliberately kept poor for political reasons (maritimes) thus requiring financial transfers to keep afloat. The Norwegian government has policies that encourage national prosperity throughout the country.
If Alberta didn't send so much money in equalization payments, we'd obviously be much better off financially. We have been boned in two ways. The first is the federal policies that encourage regional disparities and require wealth transfer to the "have-not" provinces.
The second and most frustrating in my mind is the series of arrogant and corrupt governments that we have had in Alberta. Ralph Klein got things under control and headed in the right direction, and had his successors kept it up we would be in a position to weather these downturns. But the incompetence and arrogance of stelmach and Redford squandered everything we had, and now a protest vote gone bad has given us the most incompetent and business unfriendly government in Canadian history.

 

[X-Treme]

Norwegians also pay MUCH higher taxes than us, but I agree. The previous governments have TOTALLY pissed all of that coulda, shoulda, woulda away.

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[Stompin Tom]

Wonder if Norway had to transfer vast sums of its wealth to other regions ??


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Im a bit confused here, Norway is a country, Alberta is a province, if comparing shouldnt the the talk be that CANADA should have a Trillion plus surplus?

 

[rzrgade]

Lol I love this comparison .... How big is Norway ? How big is Canada , think of the infrastructure we all want Across the whole country......
the costs to provide this is many times the costs of that in Norway !
Think if Alberta was a lone country for the last 20 years ish ....
we would of had money to burn, look at the amount of tax that we pay federally , PLUS transfer payments ...!!!
lets compare apples to apples ...please !

 

[SamStorm]

Im a bit confused here, Norway is a country, Alberta is a province, if comparing shouldnt the the talk be that CANADA should have a Trillion plus surplus?

If Norway had to deal with Quebec they would be broke too.

 

[X-it]

Everyone should know this, Justin Trudeau is on a spending spree. When your in debt right up to your eye balls you have to borrow money. But being the government they have a second option... print money. Now some people might think that printing money makes prices go through the roof, awe what do they know. Just think how much smarter Justin Trudeau would appear if everyone just smoked pot. Life is a game, who needs to work, if you need money just go to the bank. Rob Peter to pay Paul

 

[rzrgade]

We had a economist who worked his way up to be a prime minister, and we have a part time drama teacher who inherited millions , and has never borrowed a cent in his life....
who is better qualified .....we out west will come to regret JT more than we can ever imagine . Not only is he unqualified , bot he has it out for oil/ Alberta ...., just like his father did.
i will concede he has better hair than the old man though....,

 

[X-it]

Not a lot of people who care about debt, but for the few who do. Pierre Trudeau increased our debt by 738.7 % when he was in power. Followed by the next great one who signed nafta Mulroney at 67.6% increase.

 

[mick]

We had a economist who worked his way up to be a prime minister, and we have a part time drama teacher who inherited millions , and has never borrowed a cent in his life....
who is better qualified .....we out west will come to regret JT more than we can ever imagine . Not only is he unqualified , bot he has it out for oil/ Alberta ...., just like his father did.
i will concede he has better hair than the old man though....,

Keith or Mick?

 

[X-it]

Venezuela's spending spree.