Quote:
Originally Posted by WarrenC12
People outside of the oil patch are encouraging Alberta to put more effort into diversifying before it's too late. Stop doubling down on fossil fuel. Stop blaming Trudeau for everything. Stop electing clowns like Kenney, with policies proven not to work.
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It is possible to walk and chew gum at the same time. Removing barriers to growth in energy production do not preclude encouraging development of other segments. The whole "doubling down on oil" argument is empty.
Kenney is taking the only possible first step in reducing dependence on oil and gas: downsizing and decomensating the public sector whose existence is largely funded by resource revenues.
Trudeau is to absolutely to blame for all aspects that are controllable:
-negative signals to investors around phasing out the oilsands or achieving net zero ensissions, which is impossible under foreseeable technology
-emboldening indigenous rights activists with empty and often impossible promises
-failure to implement rule of law when faced with clearly illegal protests. The government cannot direct law enforcement to take particular action, but it can hold law enforcement accountable to take some form of action, and pledge support of law enforcement if things turn ugly
-failing to remove political considerations from regulatory approvals. The whole point of an arm's length regulator is to insulate the process from political whims
-failure to adjust the ridiculous equalization formula whose gamed fiscal capacity formula somehow determines that AB's ability to raise revenue continues to increase while its GDP decreases
-failure to pursue advance court rulings on issues such as indigenous land claims to reduce uncertainty
-continuing to ramp federal deficits with no tangible outcomes, which only contributes to negative investor sentiment
-failure to address competitive issues relative to the US in terms of corporate and personal taxes, which again hits investor confidence
The only factors outside Trudeau's control are middling market pricing for oil and low pricing for gas