How the new ndp govt is downplaying the oilsands.....

[101110101101]

Do you NOT pay 3-4 times what these corporations do? Cause I sure as fawk do. I pay anywhere from 25 - 39% income tax which is a 250 - 390% increase over the measly 10% you're bitching about. I just don't make the billions that the oil companies are crying about. I, personally, will reserve my judgement about the NDP government until they actually DO something worth complaining about. You whiners are free to do whatever you choose also. That's the best part of living where we do. We can make our own decisions. Even to vote who we want to vote.

You should run.... you'd get my vote. Pragmatism is far too rare these days. Dogma is for ......... the dogs.

 

[lilduke]

You don't like giving your money to the Government and Banks? Whats wrong with you...lol
Eliminate the income tax and you would see a boom like this country has never seen before.

That wouldn't help the Global socialist movement that is going on though.

 

[deaner]

Seriously , do you really think BIG OIL have not already invested millions + in alternative and green energy .....?? Do you think they are that stupid ?
They are in business to make money .....if that means purple energy ....LMFAO.
There is a reason they are BIG corporations.....trust me ,they think a lot farther ahead than you and me..........

Oil companies are interested in making large profits. Do you think they are really pushing for cheap sustainable energy sources? If they did find something like this they would most likely suppress it. Non partisan, publicly funded alternative energy research is the way to go in my opinion. The framework is already in place with our academic institutions. We just need the proper policy and funding.

 

[X-Treme]

Oil companies are interested in making large profits. Do you think they are really pushing for cheap sustainable energy sources? If they did find something like this they would most likely suppress it. Non partisan, publicly funded alternative energy research is the way to go in my opinion. The framework is already in place with our academic institutions. We just need the proper policy and funding.

Perfect example of this is a movie called "Who killed the electric car". I'm betting you can guess who was to blame....

 

[Stompin Tom]

Do you NOT pay 3-4 times what these corporations do? Cause I sure as fawk do. I pay anywhere from 25 - 39% income tax which is a 250 - 390% increase over the measly 10% you're bitching about. I just don't make the billions that the oil companies are crying about. I, personally, will reserve my judgement about the NDP government until they actually DO something worth complaining about. You whiners are free to do whatever you choose also. That's the best part of living where we do. We can make our own decisions. Even to vote who we want to vote.

What I pay is my business, I am a small business owner, my tax is based on my profits. A good accountant makes a world of difference.

And as you say, every man and woman have a choice, and one of them choices is working for yourself and not living off the back of "the man". It always amazes me how the employees feel the big corporations are screwing them, yet they wont venture into the private world and happily accept the paychecks every couple of weeks.

 

[snopro]

Do you NOT pay 3-4 times what these corporations do? Cause I sure as fawk do. I pay anywhere from 25 - 39% income tax which is a 250 - 390% increase over the measly 10% you're bitching about. I just don't make the billions that the oil companies are crying about. I, personally, will reserve my judgement about the NDP government until they actually DO something worth complaining about. You whiners are free to do whatever you choose also. That's the best part of living where we do. We can make our own decisions. Even to vote who we want to vote.

Well don't get in a rush to see what the NDP's plans are until late October. They by design will not be releasing there budget till after the federal election.

 

[ZRrrr]

CNRL has been the only company to date that has blamed it on the tax increase. Me thinks they were hoping others would get on the band wagon and lay blame on the tax increase.....fail.

Many of these companies export profits out of AB and manipulate tax laws to avoid paying corporate taxes. US based oil companies are subjected to something called the "windfall profit tax" in the US. They pay a certain tax rate to the US gov (and it's high) and if the foreign jurisdiction in which they operate increased their corporate tax (AB), the US gov adjusts their rate so the US based company never pays more than the set rate. This is a simplification, but basically it's a wash for US based oil companies.

"Securities laws require Big Oil to file its first quarter earnings results in mid to late April. These results must include a discussion about the risks Big Oil has identified in the foreseeable future.
Not one energy company, not even Cenovus, updated its boilerplate risk language to address this so-called threat to their bottom line. A quick look at the boilerplate, which covers every risk known to man including changes to royalty regimes, tax laws, computer hackers, terrorist attacks, reveals that no one fussed about Ms Notley’s suggestion that Albertans deserve the right to control their natural resources and corporations can pay a little more in corporate taxes. Even the right-leaning CanWest Foundation warned the energy industry not to rush to judgment, suggesting “the faster the energy sector moves from fear and resentment to constructive engagement, the better off Alberta will be”. Many energy companies filed their Q1 earning reports, giving Albertans an opportunity to discover what energy sector CEOs really thought about the impact of an NDP government on their company’s business.
Of the 15 companies covered by the Daily Oil Bulletin, nine made no mention of the impact of the new NDP government.
Of the companies that mentioned the regime change, Crescent Point said the new NDP government wasn’t an issue because only 2% to 4% of its revenue was subject to Alberta royalties. Vermilion said it wouldn’t “pre-judge” the new government, preferring to wait until the NDP released its policies.

On paper it may "look" like a 2% (or 20% depending on your style of math) tax increase, but in reality it will equate to far less than that. That's why they hire the good accountants and tax lawyers. What's the "actual" take for AB at the end of the day.

My heart may bleed for the little guy....but it certainly doesn't bleed for the BIG guys.

They're playing a numbers game, deferred tax is not cash. They booked a big deferred tax expense based on future earnings in future periods. The actual expense in the quarter was only 2.4M and net earnings would still have been 120.6M.

They are playing games because most people can't be bothered to actually look at their financials and do the math.

http://www.cnrl.com/upload/media_element/941/02/0806_q215.pdf page 41

 

[winterax]

umm news flash captain obvious we all know when the oil price crashed... NDP elected as we were crashing and what did they do? Raise corporate tax 20% at the time of a huge crash... Big help in the short term until oil comes back. Then again what would Kevin O'leary know he's only worth $300 mill.

I dunno, I work for a company with operations around the world, the bean counters tell me its 2 %. 300 million, not much in our books, but we don't have a TV show either. Last time oil tanked, our glorious PC government sure didn't do much to help.

 

[Cat401]

I dunno, I work for a company with operations around the world, the bean counters tell me its 2 %. 300 million, not much in our books, but we don't have a TV show either. Last time oil tanked, our glorious PC government sure didn't do much to help.

The previous PC's may have not helped in many person's opinions but at least they continued to lobby and try and keep our product moving around the world....these frikking ND's make statements to "leave it in the ground", lets focus on wind power, etc. They, the New Dummer Crats, are now holding off on presenting a budget....why?...so they can continue to blame the previous govt....?
Like X-treme said ... he will reserve his opinion on the ND's until they actually do something.....well its been 6 months! How long are you ok with them DOING NOTHING while our province spins into a depression???

Get on with running our province. A depressed economy is a time for maintaining business relationships....trying to prevent it from slipping away....is Notley working with the oil execs to find a solution?? ...she hired a guy who has lobbied against Alberta oil to run that department.....is that good? Do you think his personal opinion is good for Albertans? My guess is NO....I hope I am wrong

I am all for green energy and diversifying for our future but let's get our economy back on track 1st.

Quit coasting and start showing leadership!

But on a positive note....only 3 1/2 more years before we can throw these idiots to the curb and get someone who is actually ready to govern this fine province!

 

[snopro]

The previous PC's may have not helped in many person's opinions but at least they continued to lobby and try and keep our product moving around the world....these frikking ND's make statements to "leave it in the ground", lets focus on wind power, etc. They, the New Dummer Crats, are now holding off on presenting a budget....why?...so they can continue to blame the previous govt....?
Like X-treme said ... he will reserve his opinion on the ND's until they actually do something.....well its been 6 months! How long are you ok with them DOING NOTHING while our province spins into a depression???

Get on with running our province. A depressed economy is a time for maintaining business relationships....trying to prevent it from slipping away....is Notley working with the oil execs to find a solution?? ...she hired a guy who has lobbied against Alberta oil to run that department.....is that good? Do you think his personal opinion is good for Albertans? My guess is NO....I hope I am wrong

I am all for green energy and diversifying for our future but let's get our economy back on track 1st.

Quit coasting and start showing leadership!

But on a positive note....only 3 1/2 more years before we can throw these idiots to the curb and get someone who is actually ready to govern this fine province!

Cat we don't always agree on sled brands but I could sit down and drink a couple wobbly pops with you and talk politics. You hit the nail bang on.

 

[Cat401]

Cat we don't always agree on sled brands but I could sit down and drink a couple wobbly pops with you and talk politics. You hit the nail bang on.

lol...that's a great idea!

 

[Bnorth]

The previous PC's may have not helped in many person's opinions but at least they continued to lobby and try and keep our product moving around the world....these frikking ND's make statements to "leave it in the ground", lets focus on wind power, etc. They, the New Dummer Crats, are now holding off on presenting a budget....why?...so they can continue to blame the previous govt....?
Like X-treme said ... he will reserve his opinion on the ND's until they actually do something.....well its been 6 months! How long are you ok with them DOING NOTHING while our province spins into a depression???

Get on with running our province. A depressed economy is a time for maintaining business relationships....trying to prevent it from slipping away....is Notley working with the oil execs to find a solution?? ...she hired a guy who has lobbied against Alberta oil to run that department.....is that good? Do you think his personal opinion is good for Albertans? My guess is NO....I hope I am wrong

I am all for green energy and diversifying for our future but let's get our economy back on track 1st.

Quit coasting and start showing leadership!

But on a positive note....only 3 1/2 more years before we can throw these idiots to the curb and get someone who is actually ready to govern this fine province!

You make some good points but you don't count too good, they have only been in power for 3 months. Also the economy won't be back on track until prices recover; anything prior to that is just a bandaid.

 

[X-Treme]

Alberta is not the only province that's in trouble right now either. The oil "crisis" is affecting the entire country. Even the whole world. And the PC's weren't doing fawk all before the election to fix things either. Just blame the people of Alberta and institute a provincial sales tax. GREAT idea!! I do agree with some of the things said here. What I DON'T agree with is placing the blame for this entire mess squarely on the NDP. That's all.

 

[Cat401]

Alberta is not the only province that's in trouble right now either. The oil "crisis" is affecting the entire country. Even the whole world. And the PC's weren't doing fawk all before the election to fix things either. Just blame the people of Alberta and institute a provincial sales tax. GREAT idea!! I do agree with some of the things said here. What I DON'T agree with is placing the blame for this entire mess squarely on the NDP. That's all.

Good points....so if this "dirty industry" is affecting not only Alberta but the entire country, shouldn't our govt. be spending a great part of their time on it. I am not blaming the NDP for the crises...I am blaming them for not doing anything...not supporting one of our main industries and then kicking them while they are down.....

Another interesting thing coming out of the federal ND's......apparently they are feverishly trying to clean up their past history of "oil bashing" tweets and public comments....wonder why???

Esra Levant is wondering too and below is a post from his website.....


Dozens and dozens of comments on social media sites like Twitter, all bashing oil and gas and Alberta.

Why would they delete them? We know they haven’t changed their mind. They just want to keep the depth of their anti-oil hatred hidden from voters until they’re elected. Exactly like Alberta’s anti-oilsands NDP did.

What’s even more infuriating is that these deleted tweets weren’t discovered by mainstream media journalists at the CBC or the Globe and Mail. They were dug up by amateur citizen journalists, doing the job the left-wing media refuses to do.
Well, we’ve saved copies of these deleted tweets, and we’ve made a whole website dedicated to them: NDP Deleted Tweets - The Rebel.

 

[rzrgade]

YES it is a 20% tax increase,but when you only give partial information. The whole
20% thing gives a WOW factor........ when you say tax's are going from 10% to 12%
the wow factor isn't there.
RZ you sound like a child making fun of me because I don't feel sorry for some of the big oil boy's
not making another 2 billion in a quarter.
Oil hit a little bump in the road,SO WHAT..............Is hurt's the working man far more than it hurt's
the big boy's. Oil has always made money and it always will. CNRL as an example has made let's
say 20 BILLION dollars in the last 10 years(grabbed # out of thin air) and you want to feel sorry for them
because they posted a 100 million dollar loss for one quarter? Maybe you can set up a go fund me page
for them and donate your check's. I won't be helping out ,sorry I got my own problem's and I pay 3 to 4 times
in tax's than what they do..........
OR if you want the WOW factor......... 300 to 400%......................
The average working joe pay's tax's up the ass, and the milti billion dollar companies laugh all the way to the bank
quarter after quarter/ year after year..

IMO.

Then start your own corporation....it will lower your blood pressure ,

 

[lilduke]

And as you say, every man and woman have a choice, and one of them choices is working for yourself and not living off the back of "the man". It always amazes me how the employees feel the big corporations are screwing them, yet they wont venture into the private world and happily accept the paychecks every couple of weeks.

Couldnt agree with this more.

 

[moyiesledhead]

ahhh, I can see this debate rearing its head again.

The calculated tax rate went from 10 to 12% which is an actual increase of 20% in tax costs to the company.

Creative accounting at it's finest.

 

[ferniesnow]

Creative accounting at it's finest.

Finally recovered from the big birthday bash??????????

 

[Stompin Tom]

Creative accounting at it's finest.

not creative at all, it is 100% factual.

if last year I paid $100,000 in tax's with my business and this year with the same profit I have to pay $120,000 in tax's that is an increase of $20,000 of what I paid last year which is a 20% out of pocket cost to my business. Simple black and white facts.

 

[moyiesledhead]

Finally recovered from the big birthday bash??????????

Yup. Had an awesome time with the kids at Koocanusa! :d