Provincial investment in oil and gas may be needed in changing investment climate, Kenney says

[Exuberant]

https://www.cbc.ca/news/canada/edmon...nney-1.5475669

What do you think? I don't agree as we have given these companies so much money with corporate tax breaks and they won't even invest in our province. Wouldn't they be investing in Alberta if it made sense to?

[Smoky buck]

Until the issues of pipelines are sorted out there won’t be any major improvement to the industry. Alberta oil needs to reach a larger market to achieve a higher price or a big improvement in the market

All these things Kenney keeps trying I just don’t see them doing much to improve the industry. He is better off focusing on the pipeline issues and advancements in other industries till that is sorted out

Just my opinion

[Bergerboy]

A provincially owned and operated oil company would also keep the money in the province. Lots of good trickle down instead of just getting royalties. This province is full of skilled people looking for work that could make this happen.

[Fisherdan]

Originally Posted by Exuberant

https://www.cbc.ca/news/canada/edmon...nney-1.5475669

What do you think? I don't agree as we have given these companies so much money with corporate tax breaks and they won't even invest in our province. Wouldn't they be investing in Alberta if it made sense to?

I agree with you. Ultimately the federal government needs to provide certainty. This likely means an accepted and predictable framework that satisfies industry and carbon goals.
I wish Kenney would support other parts of our province with even half as much enthusiasm as he does oil and gas.

[Bergerboy]

Originally Posted by Fisherdan

I agree with you. Ultimately the federal government needs to provide certainty. This likely means an accepted and predictable framework that satisfies industry and carbon goals.
I wish Kenney would support other parts of our province with even half as much enthusiasm as he does oil and gas.

What other part of our province can provide the revenue of oil and gas?

[3blade]

Originally Posted by Smoky buck

Until the issues of pipelines are sorted out there won’t be any major improvement to the industry. Alberta oil needs to reach a larger market to achieve a higher price or a big improvement in the market

All these things Kenney keeps trying I just don’t see them doing much to improve the industry. He is better off focusing on the pipeline issues and advancements in other industries till that is sorted out

Just my opinion

This. There is nothing “government investment” (confiscated pensions) can improve until we get transport (and/or refining - aka energy east) capabilities that keep up with volume.

Kenney is scrambling, scheming, and spewing trying to stave off the inevitable referendum on separation. He parachuted in expecting to be Ralph 1.2 and staked out his position as a federalist, which was a massive mid-read of public opinion. Not going so well for him

[6.5 shooter]

If only we had voted in Kelly Lynch federally.....This may look different...but no We voted in a church minister to lead the opposition...Blame the Conservative voters just as harshly as the Liberals.....

[waldedw]

So let's just say that you have 1 or 2 billion to invest in oil and gas, would your first choice be Alberta ??? or for that matter Canada ??? with that no mind that we have as a PM and the fact that the FN run the country why would anyone in their right mind invest here............. seriously

[sjemac]

Pure Communism. Private sector can do it best on its own.

[bsmitty27]

Another brilliant idea. Oils at 50.00 and showing no signs of increasing. All other investors are pulling out. But the conservative government wants to put public funds in to prop up a flailing corporate sector. How socialist of them!

[Bergerboy]

Originally Posted by sjemac

Pure Communism. Private sector can do it best on its own.

I will always choose a homegrown company over a foreign investor. Have a look at who owns the oil companies that operate in Alberta.

[sjemac]

Originally Posted by Bergerboy

I will always choose a homegrown company over a foreign investor. Have a look at who owns the oil companies that operate in Alberta.

That is the definition of socialism when the government is the “home grown” entity.

[Bigjohn87]

Originally Posted by sjemac

That is the definition of socialism when the government is the “home grown” entity.

Actually it isn’t. You can’t just take predetermined political stance with a definition and manipulate it to suit your desires even if it is 100% wrong.


The Alberta government getting into the business of Oil and Gas is not Socialist or Communist.

[Hadji Ramjet]

Originally Posted by waldedw

So let's just say that you have 1 or 2 billion to invest in oil and gas, would your first choice be Alberta ??? or for that matter Canada ??? with that no mind that we have as a PM and the fact that the FN run the country why would anyone in their right mind invest here............. seriously

One of my brothers is the CEO of a private O&G (and a Kazakh gold mine for some odd reason) headquartered in the Kingdom of Bahrain. He's been looking for ventures in Canada because he's tired of the Gulf. Recently had meetings in Seattle with Japanese O&G investors who are looking for somewhere to place $20 billion. He was told they will NOT look at Canada, despite his efforts, he's directing them to a venture he's involved with based in Tulsa.

Enjoy the decline.

[sjemac]

Originally Posted by Bigjohn87

Actually it isn’t. You can’t just take predetermined political stance with a definition and manipulate it to suit your desires even if it is 100% wrong.


The Alberta government getting into the business of Oil and Gas is not Socialist or Communist.

Socialism: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

Maybe I'm being too literal and not manipulating it enough to twist it around tp suit whatever your definition of it is. Just because the government wants to cherry pick its acts of socialism........

[Smoky buck]

Originally Posted by Hadji Ramjet

One of my brothers is the CEO of a private O&G (and a Kazakh gold mine for some odd reason) headquartered in the Kingdom of Bahrain. He's been looking for ventures in Canada because he's tired of the Gulf. Recently had meetings in Seattle with Japanese O&G investors who are looking for somewhere to place $20 billion. He was told they will NOT look at Canada, despite his efforts, he's directing them to a venture he's involved with based in Tulsa.

Enjoy the decline.

This right here is worth taking note of and one of the biggest issues

When investors are not willing to take a risk on projects in Canada that speaks volumes about what is going on with our economy.

[jstubbs]

Alta Govt already did with this the Redwater refinery... your mileage may vary on that one.

[zabbo]

Originally Posted by Hadji Ramjet

One of my brothers is the CEO of a private O&G (and a Kazakh gold mine for some odd reason) headquartered in the Kingdom of Bahrain. He's been looking for ventures in Canada because he's tired of the Gulf. Recently had meetings in Seattle with Japanese O&G investors who are looking for somewhere to place $20 billion. He was told they will NOT look at Canada, despite his efforts, he's directing them to a venture he's involved with based in Tulsa.

Enjoy the decline.

Originally Posted by Smoky buck

This right here is worth taking note of and one of the biggest issues

When investors are not willing to take a risk on projects in Canada that speaks volumes about what is going on with our economy.

This right here is why I would be dead against government money being invested in any business. If the private sector can't or won't invest, the venture is not very likely to be profitable. Business people are there to MAKE MONEY. Governments are typically there to BUY votes.

[Deer Hunter]

Originally Posted by jstubbs

Alta Govt already did with this the Redwater refinery... your mileage may vary on that one.

$10 billion dollars to build it.
$26 billion in government funded tolls over 30 years.
It was supposed to be up to full capacity in 2016/17. It still isn't.
That's the problem when government backs private ventures with poorly negotiated contracts. Taxpayers get it right between the eyes.

[bsmitty27]

So many of the moves the ucp has made are short sighted. Investing our money in to a failing sector, when all financial and oil companies are pulling out, will cripple our economy for decades and stiffle advancement in any other industry.
I would love to play poker with Kenny. It's almost like he plays with other people's money!
Brad

[Smoky buck]

Without proper infrastructure to effectively get the product to larger markets, reliable process for project approval, a government who stands behind/enforces its approvals, and provinces working together investors are going to go where they can make investments without so much uncertainty.

This country can’t even complete an LNG pipeline that is years over due and has changed hands already because of the BS. TM or kinder Morgan or whatever it’s going to be called next still not done even with Ottawa buying it. There has been multiple mining projects in BC that can’t gain ground. I bet if you do some digging projects in other provinces that are not being reported are in the same position. Canada has been a complete failure at accomplishing big projects since the liberals too power

Investors watch all of this and Canadian resource industry is a risky investment and the oil & gas industry has the biggest black eye

[Bigwoodsman]

What Kenny needs to do is drop the kid glove dealings with Ottawa. Sparkle Socks has Kenny to a degree skipping his rope. We have the law to turn the taps off, this along with the protests should get the attention of the people in Ontario and Quebec, and BC. It will be hardship all around, but it just might get things done as well. No trains, no pipelines moving oil, no transfer payments.

BW