Alberta posts a 4.6 billion surplus.
Record high oil prices and a booming population pushed Alberta’s budget surplus to $4.6 billion in the 2007-08 fiscal year — despite record spending.
The financial report for the year ended March 31 shows that resource revenues shot well past early predictions and reached $11 billion — the third-highest in Alberta history.
Government officials concede that with oil now trading at more than US$130 a barrel another windfall of resource revenues is in the offing.
But a bustling economy also pushed government spending to record levels to relieve a backlog of building projects and higher health and education costs.
Oh, I know us selfish, rednecked Albertans aren't willing to share with poor, soon to be have not, Ontario. Hey Ontario, who do you think is buying all those big honking trucks you produce?
I miss Ralph! He would have been in Dion's face about NEP II, and making no bones that Alberta will NOT tolerate this tax grab. Stelmach, come out, come out, where ever you are! You are the Premier, stand up for your province. Crickets.
This article at least shows someone has some backbone left in Alberta.
It's good news because the 2007-08 final figure is expected to exceed the $4 billion she booked in her April budget documents by another half a billion bucks. That surplus started life 15 months ago as a $2-billion windfall.
The usual suspects are to blame: Oil, gas and a roaring economy which cranks out mega-millions in provincial taxes.
The bad news, of course, is that there are cynical politicians out there who are devising devious ways of tapping the province's energy wealth pipeline.
"Some of the other provinces do look covetously at Alberta," Evans sighed.
Other pols - step forward, Ottawa Liberal Leader Stephane Dion - are not even being subtle about it.
Last week, Dion launched his "Green Shaft" tax-and-redistribute scheme to suck as much as $15 billion a year out of the energy economy, most of which is located right here.
Dion's describing it as a "good, bold idea" which will be "good for the planet and good for your wallet."
Iris begs to differ with the nutty professor.
'POOR PLAN'
"It's a poor plan," she spat. "It's not even a green plan. It impacts industry and everybody," Evans continued. "Not only in Alberta, but in other places."
While Dion's $40-a-tonne carbon tax gouge isn't aimed at the Alberta government's cash flow directly, like Pierre Trudeau's national energy program did 27 years ago, it's designed to suck the surplus energy revenue out of Alberta.
When our economy falters, so do Evans's revenues.
But Albertans aren't in this thing alone, Evans stressed.
"My hope is that they recognize that no matter what the surplus is, 50% of the taxes from the oilsands goes to other governments," she pointed out. "And 40% of the jobs."
She calls it a "shared-wealth component."
There's another reason for Dion and other eastern provincial governments to keep their hands off Alberta's economy.
"Even though on the face of it, Alberta has a surplus," the finance minister said, "we've been responsible for a large part of the strength of Canada."
But Liberals don't see it that way, they see it as a way to gain votes in Quebec and Ontario. What happens if they kill the energy industry with their green shaft? How will Ontario and Quebec be better off when those manufacturing orders from Alberta stop coming? PM Harper is right, it's a crazy plan to screw our economy.
23 comments:
Iris Evans was on David RUTHERFORD LAST WEEK, and she was not happy nor was David. It would be nice to hear what she said again.
Alberta supports this country nuffies quebecers ontarians are working here.
Destroy it Dion and you're doom.!
Never thought I'd see the day, ALBERTANS cheering for their provincial government over-taxing them by $4.6 BILLION!
Hahahahaha!
"Never thought I'd see the day, ALBERTANS cheering for their provincial government over-taxing them by $4.6 BILLION!"
You idiot - couldn't have been the INCREASE IN OIL PRICES - could it??? Nah - must have been overtaxing. What a Scmuck....
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
You idiot - couldn't have been the INCREASE IN OIL PRICES - could it??? Nah - must have been overtaxing. What a Scmuck....
Of course it is the oil prices you buffoon! Thanks for owning up so quickly. So what, exactly did Albertans do, to actually earn this money? You act like the feds want to steal it from you. But you never earned it!! Thanks for admitting that.
Hahahahahahahaha!
Hey Anon. ever hear about the Goose and the golden eggs. By the way, what do Socialists do to earn their money... taxes aka wealth redistribution. Boy thats honest hard work.
"You act like the feds want to steal it from you"
Yep.
What did we do to earn it?? Well, you GOOFBALL, we have voted conservative which has allowed the oil companies to have the freedom to get the oil out of the ground. And don't give me the crap that only alberta has oil under the ground because that is a crock!!!
HAHAHAHAHAHAHAHAHAHAHAHAHAHA
Why bother responding to the nutbar communists here in Ontario. They are uneducated greedy bolsheviks.
"Never thought I'd see the day, ALBERTANS cheering for their provincial government over-taxing them by $4.6 BILLION"
As opposed to what, Dion and the federal Liberal's complaining Harper has seen fit to have the federal government stop over-taxing us to the tune of $11 billion?
And I'm sure your brilliant enough to realize that if Alberta produced that much of a surplus, both municipal and the federal governments made some extra revenue too. You know, to share with buffons like Toronto mayor David Miller.
What I find interesting is the deafening silence on this from Danny Millions. Was a side deal done by the Libs....again? Gang up on Alberta.
What did we do to earn it?? Well, you GOOFBALL, we have voted conservative which has allowed the oil companies to have the freedom to get the oil out of the ground.
Baloney. You were subsidized for years by the rest of us. Leduc was discovered while you had a Social Credit government. Conservatives did not get into power until 24 years after Leduc, in 1971. By then the industry was well developed.
And don't give me the crap that only alberta has oil under the ground because that is a crock!!!
Alberta contains nearly all of Canada's oil sands and about 75% of its conventional oil reserves.
You need large reserves or high prices to justify pipelines and such.
What I find interesting is the deafening silence on this from Danny Millions. Was a side deal done by the Libs....again? Gang up on Alberta.
Paranoid right wingers, so what else is new?
The fact is that current methods of production from oil sands produce 3x the greenhouse gases as conventional production. It should be easy to improve this, and you end up getting a big rebate back.
You only pay the carbon tax if you are inefficient or keep your head in the sand.
"You were subsidized for years by the rest of us."
And now you are being subsidized hugely by us - so what IS your point.
You could also ask what Quebeckers did to deserve their low electricity rates (which by the way are in part artificially low and encourage waste when we should be exporting more electricty to the Americans and Ontario and investing most of the profits into our hospitals, infrastructure, etc.).
Quebeckers like Albertans worked hard to develop their assets, but of course (excepting new dams that might be built) their energy source is now much easier to tap into. Also there are practically no emissions, so they are the winners in the carbon tax scheme.
Sorry anonhaha, please provide evidence tha the roc subsidized our oil industry. My recollection is that yes we had a SC govt, which was ignored by bay street and the govt. However, the americans jumped in with both hands and their wallets to help us out. And, remember that Premier Manning was dealing with 2.00/barrel oil.
Hey anon, greenhouse gases are make believe, just like elves, leprachauns and unicorns.
Global warming is fruitcake social engineering predicated on junk science by aging hippies who could never make it in the real world. (Hence your government job).
Dion is a sissy and his dog Kyoto is probably a leg humper.
Now step aside little boy as we sing "We're in the Money", follwed by "We are the Champions". Sorry, but this time around we won't be doing any 'sharing'.
Where's my 'Eastern bastards freeze in the dark' bumper sticker?
Eskimo, that is too funny! I was going to say "everybody play nice", but that post and some of the others made me change my mind.
Have at it!!!!
After making perogies all day for my Dad's 80th birthday, (yes, they are sauerkraut like you requested Dad!), I'm too tired to referee.
Anonymous said..."So what, exactly, did Albertans do, to actually earn this money.
They worked damned hard to get it!
I was in Alberta with an Ontario construction company in 1977 and I could feel the dynamic energy in the air. This province ran 24 hours a day, seven days a week. This was in stark contrast to Ontario which was, even then, morphing into a large geriatric home.
I moved here in 1978 and for the first time in years felt like I was not just marking time until I was old enough to draw a pension.
In 1985 the company I worked for sent me back to Toronto for a short term job at the Lakeview generating station. We ran into an unexpected asbestos problem and needed proper respirators for the crews. We found a place that had 150 in stock. We told the owner we would take them all immediately. Since it was a Saturday he declined to open his store and told us to come back Monday. We got on the phone and talked to people in Alberta. The respirators were air frieghted to us and we only lost a days work. That's what Albertan' actually did to earn their money.
My son-in-law works for a gas well completion company and is on a job in Quebec for the third time. He gets anything he needs shipped from Alberta. The local industrial supplier won't even carry the type of coveralls the crews require because he would have to go to the trouble of setting up a new account with a different supplier and he can't be bothered. My son-in-law now preships what he thinks his requirements will be and if he runs into something unexpected he calls Alberta and can be assured he will have it 24 hours max.
That's what Albertans do to earn their money.
"You were subsidized for years by the rest of us."
Wrong high tariff walls protected and inefficient and over priced manufacturing industry in Ontario and Quebec and the West paid the price when without the tariffs we could have acquired the same or better products cheaper elsewhere. The Wests resources have always been the wealth that has been taken to feed the East. I've seen little subsidy from the East to the West thats hasn't been yanked back through inflated costs.
Alberta Girl said...
"And now you are being subsidized hugely by us - so what IS your point."
If Alberta should ever starts to "subsidize" Ontario, just consider it a return on Ontario's investment
Hi Hunter,
Didn't mean to get so 'involved' in my little tirade there! I guess I'm full of P & V today.
Sauerkraut! Mmmmmmm!
Here at Chez Eskimo we have differing opinions on how perogies should be prepared . My Mom would always boil her's before freezing them, my mother-in-law would freeze them raw. The reason I like Mom's best is that after they thawed, you cooked them by FRYING them, usually to a crisp (drool!) My wife grew up on freshly boiled perogies and we've lock horns over which is the 'correct' way to consume these blessed treats!
Spent about a half hour on the phone tonight with a buddy of mine who's in the same business as I. We are both in the same boat - absolutely overwhelmed with work and streesed over how we're going to get it done. We both run home based consulting firms, he employs 2, I'm a one man band. We've both been at it for 20 years (went to NAIT together) and after some lean years, we're finally reaping some great rewards. We both say it would be a shame for some lame brained government to flush our efforts down the Kyoto toilet. Here's hoping we can keep Dion out of office while we kick butt here in Alberta for at least a couple more years!
"....just consider it a return on Ontario's investment"
It's attitudes like this that explain why my two current vehicles were manufactured in Korea and Japan and not that swirling socialist cesspool called Ontario.
Eskimo, you boil them while they are fresh, then the next day, you fry them for breakfast (A shot of rye is also recommended with the kulbasa and pickles)!
When making over 200, you freeze them raw. Plus, they travel better, Hubby bought a cooler (with Canadian Tire money) that plugs into the cigarette lighter while traveling. Nothing worse than frozen perogies thawing into one big blob!
Powell Lucas, my husband can't understand how come some Ontario companies insist on ordering from Alberta, I think you outline it perfectly, we get the job done!
Eskimo, I hope you are thinking about the opportunities in Saskatchewan, they are just starting to gear up.
"If Alberta should ever starts to "subsidize" Ontario, just consider it a return on Ontario's investment"
Well libby - if Dalton continues on the road he is on and you do become a HAVE NOT province; you might just reap the benefits of Alberta's wealth.
In the meantime - please provide proof that Ontario EVER subsidized Alberta.
The one exception that Albertans are grateful for was during the drought several years ago when Hay was non existent and Ontarian's loaded up a train load of Hay and sent it west. And it was extremely appreciated. So I will not say that Ontario has NEVER done anything for Alberta.
Thanks Ontario!
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