FantasyLand

To those who think you can merrily elect politicians who preach a brand of politics that either directly and/or indirectly attacks that which has been largely responsible for the high standard of living we now enjoy, please begin to accept that this selection by you has serious consequences. They are already negatively affecting us.

Unfortunately, we have seen in the last several months the election of an NDP Premier in Alberta and a Left leaning Liberal as Prime Minister of Canada. These selections have consequences: generally and specifically. Generally, in that we have two very inexperienced individuals at the political top of the Country and the political top of arguably the most important Province , at least from a economic and revenue generating point of view. This ,in and of itself , creates greater uncertainity and commerce hates uncertainity, since you cannot adequately plan, you know not what economic rent you will have to pay . Hence, investment slows.

Specifically, these two people have already said and done things that harm our financial and economic prospects.

Specifically, the Alberta Premier , fully aware ( I mean she is awake and on the job every day, isn’t she) of the oil price colaspse given it was underway when she was running for office, proceeds to hike coporate taxes, change the income tax system, hike the minimum wage , and set up a process of reviewing oil and gas royalities with the intent,  not of lowering them but raising them , and announces a carbon emission ceiling by dividing and conquering the oil and gas companies. Now , if you think such actions will encourage more investment in Alberta , then you are an honorary member of the fantasyland club. On top of that she parades in front of the environmental global community eager to please a bunch of tenured academics and UN secure bureaucrats on notions that embarrass good science and demean her hard working population.

Our new Princeling ? What can one say.? One who pronounces on the superiority of the Chinese Governance system, lives in a world where budgets balance themselves , surely does  not engender confidence among the investor class. Specifically, he prances around the world from Paris to Davos uttering statements that commit the country to hundreds of millions of dollars of extra funding on dubious programs administered by an inefficient , bloated UN bureaucratic class , living off the rest of us. Specifically, his way forward is confusing and hypocritical,  no tankers carrying oil off the west coast, LNG tankers are just fine , pronouncing stricter environmental procedures and policies yet to be fully described ,  making statements on financial projections which are blatantly false. Did you ever hear of a federal leader promising three years of deficits? Oh,  how much ? Well not defined . Do you think it easy to get off such a pathway once you have signalled to all that this is the one you will take?  Incredible.

Now,  I note in the Wall Street Journal today,  a respected newspaper among the entrepreneurs of the world , describing in detail how the idea of a reduced value for the assets of the global oil companies is likely given the recent moves in Alberta. Oh, those dirty oil companies ! Who cares? One can hear the echoes of such statements in my ears from naive Canadian nationalists and others who have never met a payroll, yet whose pension funds are likely partly invested in oil and gas stocks. It is and will be these same companies or others like them that will have to invest the new dollars , my dear fellow Canadaian.

Then I turn to the National Post. They are whispering the R word. But, but , I thought that was a Harper word! Ah, how our little country spins .

And spins , and spins; look at the silly position on Syria, Drama teacher ,alright , Tis fiction!

If you have the intentestial fortitude to link the above with:

  1. The Premier of BC opposing Kinder Morgan twinning the pipeline to the lower mainland and also making life difficult on norther gateway, dead proposal quite likely , hence trapped  Alberta oil , except of course, to use rail transport , a more dangerous mode.
  2. Ontario , largest province, second province  geographically,  near the top economically, is in debt up to its ears, pursuing an energy policy reminiscent of failed Spain and California .
  3. And then there is Quebec , one of the larger  Provinces, perennial recipient of equalization , always whining for more; and now the Montreal region municipal autocrats are intent on stopping energy east pipeline , as if their oil rail mode did not recently have  an accident , and the Province replete with hydro generation, flooding  land, aluminium plants, mines , and all that dastardly environmental destructive stuff, plus depending on a energy rich west they now reject to pay for their equalization and other goodies.

Brad Wall, the one Premier still in the real world ,  is lost!

Oh, Tis Fantasyland, alright.

 

 

 

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