Alberta's farmer CEO Ed Stelmach has no plan to deal with economic meltdown so what does he do instead skips the first ministers meeting for an all expenses paid junket to Europe. Guess he missed the news that this is a global crisis and that Europe ain't open for business its businesses are collapsing. And typically the Tired Old Tories have no plan. Instead they put their heads in the sand and hope no-one notices their arses are in the air.
Alta. premier to skip first ministers' meeting
Trish Audette , Canwest News ServicePublished: Monday, November 03, 2008
EDMONTON - Alberta Premier Ed Stelmach is skipping national economic discussions in Ottawa next week in favour of going to Europe on a trade mission.
Stelmach explained Monday that his presence at the first ministers' meeting, hosted by Prime Minister Stephen Harper, is unnecessary. The premier said organizers rejected having him connect to the Ottawa meeting by phone, so Alberta is sending a senior cabinet minister.
"We'll clearly identify the areas that we're concerned about," said Stelmach. "One of them is income trusts and another is where they cancelled all of the accelerated capital cost allowances for the oil and gas industry."
Premier needs to deliver plan that will restore hope
The premier has been disappointingly mum on his plans to restore confidence . . .
Danielle Smith, For The Calgary HeraldPublished: Tuesday, November 04, 2008
On Monday, the finance ministers met to talk about the next steps the federal government will take to address the pending economic crisis. What Premier Ed Stelmach now needs to do is set a date to provide an economic update of his own, so Albertans know what he intends to do about it.
The premier has been disappointingly mum on his plans to restore confidence among consumers and business owners. Meanwhile, Alberta is not likely to avoid the effects of what appears to be the beginning of a global economic slowdown.
Business confidence is at the lowest levels we've seen in nearly two decades.
For the last four weeks, starting on Oct. 6, CFIB has surveyed members on a weekly basis to get their views on how they expect the economy to perform over the next 12 months. The results are sobering.
Each week the small business outlook has looked a little dimmer, as massive shifts in commodity prices and the shrinking availability of credit disrupt investment plans. For the first time, the index is now virtually equivalent to its previous record low -- found in mid-1990 -- a time that coincided with a protracted recession.
For the last four weeks, starting on Oct. 6, CFIB has surveyed members on a weekly basis to get their views on how they expect the economy to perform over the next 12 months. The results are sobering.
Each week the small business outlook has looked a little dimmer, as massive shifts in commodity prices and the shrinking availability of credit disrupt investment plans. For the first time, the index is now virtually equivalent to its previous record low -- found in mid-1990 -- a time that coincided with a protracted recession.
But the most important question Taft levelled, which still appears to have no clear answer, is: "As the world economy staggers to a halt, what is this government's plan to protect the wealth and jobs of Albertans?"
Stelmach responded that he would dip into the $7.7 billion stability fund if he needed to, but that doesn't address the core problem. The core problem is the Alberta government spends too much.
This year, the province increased operating spending by 9.7 per cent and capital spending by 22 per cent.
Not long after the budget was delivered, the province threw out its surplus management strategy (which was supposed to dedicate one-third of surpluses to infrastructure, one-third to infrastructure maintenance, and one-third to savings) and announced it would spend an additional $4 billion, on carbon sequestration and public transit.
Tories 'handing' U.S. oilsands upgrading jobs
Premier blames federal government
Renata D'Aliesio, Calgary HeraldPublished: Tuesday, November 04, 2008
Opposition leaders accused Alberta's premier on Monday of standing idly by as the United States siphons oilsands upgrading jobs from the province.
In question period, Liberal boss Kevin Taft seized on new industry warnings that Alberta is on track to upgrade only half of its bitumen production, far short of Premier Ed Stelmach's goal of 75 per cent.
Taft listed a litany of American upgrader projects designed to process the province's tar-like bitumen, including plans slated for Indiana, Minnesota and Montana.
He said the Alberta government should be worried that $30 billion worth of oilsands projects, including upgraders and processing plants, has been shelved due to the global financial turmoil.
"This government is on the brink of handing control of Alberta's wealth to the United States," Taft charged.
Unintended consequences: discounted Alberta land
Crescent Point says royalties deflated prices
Dan Healing, Calgary HeraldPublished: Saturday, October 25, 2008
It's a bold investment strategy tinged with more than a little irony -- Calgary oil executive Scott Saxberg, a vocal opponent of higher Alberta oil royalties unveiled a year ago this week, says his Saskatchewan-focused company is going to aggressively bid for land rights in this province.
"We are now looking at lands in Alberta because we believe, based on the way royalty rules are, Alberta is basically giving away their land for free," the president and chief executive of Crescent Point Energy Trust told the Herald in an interview this week.
SEE
The Economist On Alberta's Fair Share
Still not getting our due
Ed's Politics Of Fear
Nationalize The Oil Patch
Royalties Pay For Jobs
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