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Wasn't really what I was getting at... which is more in the lines of the oil industry is going the way of the dinosaurs we need to found some new industries wit

Wasn't really what I was getting at... which is more in the lines of the oil industry is going the way of the dinosaurs we need to found some new industries with its profit in ordr to survive the next century. However, since you want to talk about it, oil companies fleece Canada as well... "While royalty rates in Newfoundland are the highest in Canada, in Alberta they have fallen from a 40 per cent high during the 1970s to less than four per cent, and a complex system of exemptions ensures companies often pay even less." That's insane. https://www.theguardian.com/environment/true-north/2017/oct/26/revealed-oil-giants-pay-billions-less-tax-in-canada-than-abroad https://www.theguardian.com/environment/true-north/2017/oct/...

vkou 8y ago
What's even more amazing is that ~2% of Canada's GDP is oil, yet if you were listen to the braying of the oil companies, and their bought-and-paid-for stable of politicians, they make it sound like that number is ~25%. We are literally bending over backwards to subsidize and prop up a rounding error in our economy.
- devoply 8y ago
  It is around 25% of Alberta's GDP. Much of the service and secondary industries that derive profits as a result of that industry and are directly affected by it. So if that industry dies, there will be far reaching effects since there is nothing to take its place. The service economy which is a much larger part would be significantly effected.
  - vkou 8y ago
    And the population of Alberta is only ~12% that of Canada. It's addiction to oil is dragging the rest of the country down every time there's a drop in oil prices - as well as in our obligations to meet our carbon commitments. Right now, 33 million people have to suffer, and pay more for energy, because one province is increasing its carbon output. Edit: I am not a bastard, and I fully think that other provinces need to financially help Alberta disentangle itself from the tar sands. But it needs to be ready to accept this help, first.
    - SketchySeaBeast 8y ago
      If you listen to the rhetoric in Alberta, many Albertan's feels they are paying more than their fair share - there's talk this election cycle about somehow renegotiating the transfer payments. It's all talk about rolling back subsidies for alternative energy, and going even more whole hog into O&G. I'm an Albertan and I don't get it, I don't get it at all. I'll be voting for what seems to be the losing party this election.
      - robbrit 8y ago
        > I'll be voting for what seems to be the losing party this election. You might be surprised. Last election we saw spots of orange and red appear in what was once always blue. Demographic change appears to be moving against the Conservatives and the oil industry.
        SketchySeaBeast 8y ago
        I'm hoping that's the case. I'm also aware that you have to say you're voting UCP in a lot of places in Alberta, or you'll be under intense social pressure. I hope I'm pleasantly surprised.

vkou 8y ago

What's even more amazing is that ~2% of Canada's GDP is oil, yet if you were listen to the braying of the oil companies, and their bought-and-paid-for stable of politicians, they make it sound like that number is ~25%. We are literally bending over backwards to subsidize and prop up a rounding error in our economy.

devoply 8y ago
It is around 25% of Alberta's GDP. Much of the service and secondary industries that derive profits as a result of that industry and are directly affected by it. So if that industry dies, there will be far reaching effects since there is nothing to take its place. The service economy which is a much larger part would be significantly effected.
- vkou 8y ago
  And the population of Alberta is only ~12% that of Canada. It's addiction to oil is dragging the rest of the country down every time there's a drop in oil prices - as well as in our obligations to meet our carbon commitments. Right now, 33 million people have to suffer, and pay more for energy, because one province is increasing its carbon output. Edit: I am not a bastard, and I fully think that other provinces need to financially help Alberta disentangle itself from the tar sands. But it needs to be ready to accept this help, first.
  - SketchySeaBeast 8y ago
    If you listen to the rhetoric in Alberta, many Albertan's feels they are paying more than their fair share - there's talk this election cycle about somehow renegotiating the transfer payments. It's all talk about rolling back subsidies for alternative energy, and going even more whole hog into O&G. I'm an Albertan and I don't get it, I don't get it at all. I'll be voting for what seems to be the losing party this election.
    - robbrit 8y ago
      > I'll be voting for what seems to be the losing party this election. You might be surprised. Last election we saw spots of orange and red appear in what was once always blue. Demographic change appears to be moving against the Conservatives and the oil industry.
      - SketchySeaBeast 8y ago
        I'm hoping that's the case. I'm also aware that you have to say you're voting UCP in a lot of places in Alberta, or you'll be under intense social pressure. I hope I'm pleasantly surprised.