Re: Oilpatch bailout on table - For Gridiron
in response to
by
posted on
Dec 24, 2008 09:12AM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Lynn,
Actually the article does mention Federal bailouts. Hence that is what I am giving my opinion on. 2nd, what statements were inaccurate? That Alberta collects royalties from the oil patch? That Alberta residents recieve money each year from the Provincial Government as their share of those royalties (granted, maybe not every year and maybe not even the norm, so here I partly wrong) or that the lack of a Provincial sales tax is not needed in great part due to the oil income? And since every company across the nation pays taxes, stating that the Canadians recieve a benefit from those Alberta taxes is kind of moot. Should all companies that pay taxes get a bailout?
Now do I begrudge Albertan's these benefits? Not really, it would be nice if we had them here in Ontario but we don't. Is the oil wealth included in equalization calculations, no it is not. And that is fought over all the time (those who don't have the $$$ always want it from those who do, and they usually don't want to give it up.).
Being from Ontario (a Province that until now has always shared $$$) all I feel if that if Alberta is having a problem with a area that they specifically collect funds from, then that Province can come up with the bailout $$$ for that industry. I feel the same way about Hibernia in Newfoundland (if it ever came up) and the auto industry here in Ontario (who we shouldn't be bailing out anyway considering all of the tax breaks they already get from the Province).
If the money is needed take it from the Alberta Heritage Fund which was created as a rainy day fund as well as to finance the Province when the resources run out.
I am sorry if you disagree with my opinion. But it is only that, my opinion. And please spare me the high & mighty "It is extremely sad that people like yourself have not appreciated what they have already received from Alberta." Am I to respond with "Please sir, may I have some more?"