As I posted here previously the Alaska pipeline being built to transfer oil and gas south into the Gulf Coast refineries is being built by TransCanada Pipelines. Which originally was created by C.D. Howe and the Liberal Government and included the Alberta Socreds provincially created pipeline. Private capitalism which would not take a risk then took advantage of crown corporations created by public infrastructure funding. As taxpayers in Canada we have always funded big projects, like the railways and Air Canada, only to hand them over to private business interests when they were successful. Today you and I still pay for the privatization of our public infrastructure. Because that is the history of economic development in Canada, state capitalism for private benefit.
Ernest C. Manning was premier for 25 years. He was the wilful leader who walked the narrow path between powerful ideological opponents on the left and the right.
The socialists hordes in 1955 -- OK they were the Liberals and the CCF (today's NDP) - took 40 per cent of the popular vote in the election and wanted more government ownership of the oil industry.
Manning held the day with his 46 per cent of the vote -- and 37 of 61 seats.
The oilpatch capitalists, on the other extreme, tried to maximize their profits during the post Leduc oil boom that began in 1947.
Manning fought them off, too.
And Manning's government created a unique pipeline company in 1954 that was neither government owned, nor the profit-making tool of the international oil companies. It was called the Alberta Gas Trunk Line and is today part of TransCanada Pipeline.
In 1956, C.D. Howe forced the plan for the Trans-Canada Pipeline, a gas pipeline from Alberta to central Canada, through Parliament but paid heavily when the Liberal government lost the next election and he lost his seat.C.D. Howe retired from politics in 1957 at the age of 70.
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Tuesday, November 04, 2008
Steady Eddie Runs Away
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
Find blog posts, photos, events and more off-site about:
$100 oil, Alberta, tarsands, oilsands, Canada, peak oil, royalties, oil, profits, Province, Bill Hunter, Alberta Royalty Review,Alberta Cabinet, CAPP, Ed Stelmach,Big Oil,oil royalties,
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
Find blog posts, photos, events and more off-site about:
$100 oil, Alberta, tarsands, oilsands, Canada, peak oil, royalties, oil, profits, Province, Bill Hunter, Alberta Royalty Review,Alberta Cabinet, CAPP, Ed Stelmach,Big Oil,oil royalties,
October Surprise Was The Market Crash
On the Sunday News Talk Shows and on the American cable news channels the pundits all commented on how this election there was apparently no October Surprise.
In American political jargon, an October surprise is a news event with the potential to influence the outcome of an election, particularly one for the presidency.
No October Surprise???
What do you call this.......Mutual funds plummet in October as global credit crisis grows
THE US stock-market crash appeared to draw to a close with the month of October, as a gain in the final session helped shares to stellar returns for the week.However, consumer-spending data and a steady stream of layoffs suggest the bear market is not over yet. The Dow Jones Industrial Average rose 144.32 points, or 1.57 per cent, to 9325.01, for its first two-session gain since September. For the month of October, the Dow fell 14 per cent, its biggest percentage drop since August 1998. It could have been worse: Until Tuesday's rally helped it bounce 11 per cent this week for the best weekly return since 1974, the Dow was looking at one of the worst months in its 112-year history. The Nasdaq Composite rose 22.43 points, or 1.32 per cent, to 1720.95, gained 11 per cent on the week and finished the month with a loss of 18 per cent. The Standard & Poor's 500 rose 14.66 points, or 1.54 per cent, to 968.75, helping it to a 10 per cent gain for the week. In October, the broad S&P 500 fell 16.9 per cent, its worst month since the date of another infamous crash, October 1987. "It was nuts," said Joseph Saluzzi, co-founder of agency brokerage Themis Trading, of the October action. "There was a time there in the middle of the month people were afraid, thinking: 'What is really happening here? Is this the end of the world? What's going on?'
It cost McCain the election when he insisted that the fundamentals of the economy were good as the market came tumbling down.US Election Panel: 'It was close until the credit crunch
Wall Street collapsed right on top of McCain
Point: Dan SchnurThe most decisive event in this campaign wasn't anything either of the candidates said at their respective conventions or in any of the debates. It wasn't a sound bite from a speech or interview, or a memorable assertion in a television commercial or e-mail attachment. The turning point in this election didn't happen on the campaign trail but rather on Wall Street. In the last week of September, the race was essentially tied. Then Wall Street collapsed -- and it collapsed right on top of John McCain.In the first week or two after the extent of the economic meltdown became apparent earlier this fall, what had been a closely contested election broke significantly in Barack Obama's direction. The worst month for the Dow Jones industrial average in more than a decade made McCain's national security credentials almost irrelevant to voters frightened about their economic futures. Just as the success of the troop increase in Iraq and the rise in gasoline prices earlier this year represented real-world events that boosted McCain's support, the political ramifications of the rapidly spreading economic crisis have been of immense assistance to Obama's efforts to convince voters as to the necessity of a change of course in Washington.
SEE:
McCain A Socialist
No Austrians In Foxholes
tagsGreat Depression, John McCain, market crash, free trade, Republicans, recession, asset-backed commercial paper ,, goldhomes, mortgages, housing, bubble, US, economy, oil prices, sub-prime mortgage, Wall Street, crash, recession,October Surprise, Inflation, Staglation, Stock-Market, US, Federal-Reserve-Chairman, Oil, gold, commoditiesSmoot-Hawley, protectionism, tariffs, Herbert Hoover, U.S., U.S. economy, Canada, Great Depression, John McCain, market crash, free trade, Republicans, recession,
In American political jargon, an October surprise is a news event with the potential to influence the outcome of an election, particularly one for the presidency.
No October Surprise???
What do you call this.......Mutual funds plummet in October as global credit crisis grows
THE US stock-market crash appeared to draw to a close with the month of October, as a gain in the final session helped shares to stellar returns for the week.However, consumer-spending data and a steady stream of layoffs suggest the bear market is not over yet. The Dow Jones Industrial Average rose 144.32 points, or 1.57 per cent, to 9325.01, for its first two-session gain since September. For the month of October, the Dow fell 14 per cent, its biggest percentage drop since August 1998. It could have been worse: Until Tuesday's rally helped it bounce 11 per cent this week for the best weekly return since 1974, the Dow was looking at one of the worst months in its 112-year history. The Nasdaq Composite rose 22.43 points, or 1.32 per cent, to 1720.95, gained 11 per cent on the week and finished the month with a loss of 18 per cent. The Standard & Poor's 500 rose 14.66 points, or 1.54 per cent, to 968.75, helping it to a 10 per cent gain for the week. In October, the broad S&P 500 fell 16.9 per cent, its worst month since the date of another infamous crash, October 1987. "It was nuts," said Joseph Saluzzi, co-founder of agency brokerage Themis Trading, of the October action. "There was a time there in the middle of the month people were afraid, thinking: 'What is really happening here? Is this the end of the world? What's going on?'
It cost McCain the election when he insisted that the fundamentals of the economy were good as the market came tumbling down.US Election Panel: 'It was close until the credit crunch
Wall Street collapsed right on top of McCain
Point: Dan SchnurThe most decisive event in this campaign wasn't anything either of the candidates said at their respective conventions or in any of the debates. It wasn't a sound bite from a speech or interview, or a memorable assertion in a television commercial or e-mail attachment. The turning point in this election didn't happen on the campaign trail but rather on Wall Street. In the last week of September, the race was essentially tied. Then Wall Street collapsed -- and it collapsed right on top of John McCain.In the first week or two after the extent of the economic meltdown became apparent earlier this fall, what had been a closely contested election broke significantly in Barack Obama's direction. The worst month for the Dow Jones industrial average in more than a decade made McCain's national security credentials almost irrelevant to voters frightened about their economic futures. Just as the success of the troop increase in Iraq and the rise in gasoline prices earlier this year represented real-world events that boosted McCain's support, the political ramifications of the rapidly spreading economic crisis have been of immense assistance to Obama's efforts to convince voters as to the necessity of a change of course in Washington.
SEE:
McCain A Socialist
No Austrians In Foxholes
tagsGreat Depression, John McCain, market crash, free trade, Republicans, recession, asset-backed commercial paper ,, goldhomes, mortgages, housing, bubble, US, economy, oil prices, sub-prime mortgage, Wall Street, crash, recession,October Surprise, Inflation, Staglation, Stock-Market, US, Federal-Reserve-Chairman, Oil, gold, commoditiesSmoot-Hawley, protectionism, tariffs, Herbert Hoover, U.S., U.S. economy, Canada, Great Depression, John McCain, market crash, free trade, Republicans, recession,
Pork
So Joe the Plumber, who ain't a plumber but a McCain stand-in stereotype gets preferential treatement because of his celeberity status....pork by any other name. Hey McCain gimme the straight talk on this....
TOLEDO, Ohio (AP)
— Police stopped "Joe the Plumber" for speeding last week but didn't issue a
ticket out of concern it would reflect negatively on the Toledo department, an
officer's report said.
Officers tracked Samuel J. Wurzelbacher driving about
50 mph in a 35 mph zone in his Dodge Durango SUV on Wednesday, the police report
said.
In the final presidential debate, Republican John McCain portrayed
Wurzelbacher as emblematic of people with concerns about Democrat Barack Obama's
tax plans. Wurzelbacher has since endorsed McCain. His instant fame set off a
rush of interest in the plumber's background.
Toledo's police chief said on
Tuesday — the day before the traffic stop — that a department clerk faces a
disciplinary hearing for allegedly looking up Wurzelbacher's address on a state
computer database.
Wurzelbacher was given a verbal warning because of that
ongoing investigation and because a citation could have "negative repercussions
to the department and city as a whole," according to the report, which lists
"Patrolman Bailey" as its author.
Wurzelbacher would not comment on the traffic stop when reached by telephone Monday evening.
And I really like 'Joe's' honesty
TOLEDO, Ohio (AP)
— Police stopped "Joe the Plumber" for speeding last week but didn't issue a
ticket out of concern it would reflect negatively on the Toledo department, an
officer's report said.
Officers tracked Samuel J. Wurzelbacher driving about
50 mph in a 35 mph zone in his Dodge Durango SUV on Wednesday, the police report
said.
In the final presidential debate, Republican John McCain portrayed
Wurzelbacher as emblematic of people with concerns about Democrat Barack Obama's
tax plans. Wurzelbacher has since endorsed McCain. His instant fame set off a
rush of interest in the plumber's background.
Toledo's police chief said on
Tuesday — the day before the traffic stop — that a department clerk faces a
disciplinary hearing for allegedly looking up Wurzelbacher's address on a state
computer database.
Wurzelbacher was given a verbal warning because of that
ongoing investigation and because a citation could have "negative repercussions
to the department and city as a whole," according to the report, which lists
"Patrolman Bailey" as its author.
Wurzelbacher would not comment on the traffic stop when reached by telephone Monday evening.
And I really like 'Joe's' honesty
JW: You know, I don’t know enough about that to give you a real intelligent
answer
Typical Republican.
TagsJohn McCain, republican, U.S.presidential election, Samuel J. Wurzelbacher, ,Joe The Plumber
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