AB Pol Econ

Alberta Government finally decides to shake up AIMCo- is more politicization on the agenda?

11Nov

By Bob AscahNo Comments

Financial Institutions, Government Finances, Intergovernmental, Opinion/Research, Politics

Alberta Government finally decides to shake up AIMCo- is more politicization on the agenda?

Updated 11 November 2024 On Thursday 7 November, the President of Treasury Board and Minister of Finance Nate Horner finally said “enough is enough” for the status quo at the Alberta Investment Management Corporation (AIMCo). The Minister cited “significant increases in operating costs, management fees and staffing without a corresponding increase to return on investment” including rising staff salary and benefit costs. Horner properly asked the question” why are we paying remarkably high salaries when the organization was not delivering higher returns?” Also identified were rising staffing costs alongside rising external fees. The whole concept of AIMCo was to bring in house expertise and thereby drive down external fees. Horner also removed the 10-member board (this URL was s...

Why AIMCo needs more scrutiny and transparency Part 2

6Nov

By Bob AscahNo Comments

Agencies, Bankruptcies, Fiscal History, Government Finances, Investment, Politics

Why AIMCo needs more scrutiny and transparency Part 2

Updated 6 November 2024 Note to readers: On 6 November the Standing Committee on the Alberta Heritage Savings Trust Fund (AHSTF) will be holding its annual public meeting at 6:30 p.m. in the Rocky Mountain Room, 2nd Floor of the Queen Elizabeth II Building in Edmonton. The annual public meeting is open to members of the public either in person or via social media including Facebook. I attended the last two meetings in person and have been able to raise important questions of policy. In the 2022 meeting (transcript here), I was the only member of the public present in person. In 2023, I was pleased that there were nine members of the public raising uncomfortable questions which generally were deflected by officials of Alberta Treasury Board and Finance (TBF) and senior Al...

29Oct

By Bob AscahNo Comments

Agencies, Demographics, Government Finances, Investment

Presentation to AB Resistance on proposed Alberta Pension Plan

On Saturday 26 October I spoke to a policy conference put on by AB Resistance. I presented to the group on the proposed APP and, in particular, the dangers of politicization of investment. Below is a PDF of my presentation. Related Posts https://abpolecon.ca/2024/04/07/the-frustrations-of-a-foipp-applicant-the-case-of-the-app-part-2/ https://abpolecon.ca/2024/03/24/frustrations-of-a-foipp-applicant-the-case-of-the-alberta-pension-plan/ https://abpolecon.ca/2023/09/24/an-alberta-pension-plan-app-your-plan-their-choice/

29Oct

By Bob AscahNo Comments

Economic Data, Employment, Energy, Politics

Economics Society of Northern Alberta- Annual Outlook Conference- 5 December 2024- Early Bird pricing

Use this button to register for the 2025 Outlook Conference. Register today for ESNA's 2025 Economic Outlook Conference! This is an in-person, all day, event! Join us, in-person, to discuss Alberta’s 2025 economic climate, including topics related to macro-economic outlooks, artificial intelligence, and labour economics. More details to come. Date: Thursday, Dec. 5th Time: 7:15 am – 5:30 pm. Registration and breakfast start at 7:15 am, with the conference beginning at 8:00 am. President’s reception is from 4:30 - 5:30 pm. Location: Lister Centre (87 Ave. & 116 St.), University of Alberta Conference Centre, Maple Leaf Room (2nd floor). Don't miss out on Early Bird rates! Early Bird rates end November 10 at 11:59pm. Early Bird Rates (to Nov. 1...

28Oct

By Bob AscahNo Comments

Education, Politics

Opening of the Fall Sitting- Conversation with Graham Thomson

Last Thursday morning I had the opportunity to speak with Graham Thomson, a 30-year veteran of covering the Alberta Legislature to discuss the fall sitting which commences on 28 October. In addition to his coverage of the "Leg" as a public affairs columnist for the Edmonton Journal, he writes a column for Alberta Views and his analysis of Alberta politics is found in the The Tyee and Toronto Star. In this 30-minute discussion, Thomson emphasized that the upcoming session was basically about the UCP's leadership review which is occurring on 1-2 November 2024 in Red Deer. On Friday 25 October, Joseph Schow, UCP House Leader and Minister of Tourism and Sport briefed the media on the upcoming session. “Alberta’s government is heading back to the legislature with a laser-focus o...

27Oct

By Bob AscahNo Comments

Energy, Environment, Health, Politics

Grassy, not Shaun, of the Dead

Updated 28 October 2024 This post is contributed by Ian Urquhart who taught political science at the University of Alberta for over thirty years. He is the author of Costly Fix: Power, Politics and the Nature of the Tar Sands. You may have to fight a battle more than once to win it. - Margaret Thatcher Zombies. The Undead. They’re in neighbourhoods everywhere now – part of the ghoul fun of Halloween. Most will be dragged back to their crypts in a few weeks. Not the Grassy Mountain coal project. This zombie still will be lurching through the corridors of provincial power and the Crowsnest Pass at least until well into 2025. Grassy Mountain’s First Death Sentence Many will recall Benga Mining’s Grassy Mountain venture. Benga proposed ...

20Oct

By Bob AscahNo Comments

Agencies, Government Finances, Opinion/Research, Politics

Why AIMCo needs more scrutiny and transparency- Part 1

Note to readers: Updated 21 October 2024 On 6 November the Standing Committee on the Alberta Heritage Savings Trust Fund (AHSTF) will be holding its annual public meeting at 6:30 p.m. in the Rocky Mountain Room, 2nd Floor of the Queen Elizabeth II Building in Edmonton. The annual public meeting is open to members of the public either in person or via social media including Facebook. I attended the last two meetings in person and have been able to raise important questions of policy. In the 2022 meeting (transcript here), I was the only member of the public present in person. In 2023, I was pleased that there were nine members of the public raising uncomfortable questions which generally were deflected by officials of Alberta Treasury Board and Finance (TBF) and senior Alberta Invest...

30Sep

By Bob AscahNo Comments

Economic Data, Investment, Opinion/Research

Book Review- John Rapley’s Twilight of the Money Gods

Twilight of the Money Gods, the title perhaps a nod to Frederick Nietzsche’s Twilight of the idols, is an explosive critique of the discipline of economics as a religion. John Rapley, according to his Globe and Mail biography is political economist specializing in global development, the world economy and economic history. Rapley born in Canada, completed doctoral studies in Canada and pursued post-doctoral work at Oxford University. This book is the best book I have read on the history of economic thought. Particularly interesting is his description of the evolution of political economy of Smith and Ricardo into the neoclassical canon of Alfred Marshall. He situates the great debate on free trade within the context of a rising and dominant and the Britannica English corn laws. He ...

27Aug

By Bob AscahNo Comments

Uncategorized

Three Big Things- last week in Alberta

Imperial’s Slap on the wrist A new sheriff is in town Another example of rural municipalities ignored Imperial’s Slap on the wrist Last week in Alberta we had a taste of what it’s going to be like in UCP Alberta. First off was the “Notice of Administrative Penalty” addressed to Imperial Oil Resources Limited (IMO) of $50,000 under section 227(e) of the Environmental Protection and Enhancement Act (EPEA). As the notice, reads the contravention took place on 19 May 2022- more than two years ago and was “confirmed” three months later. The offence was described in a very matter of fact way- included industrial wastewater, in the industrial wastewater control system in contravention of section 4.2.3(a) of EPEA Approval 46586-01-00, thereby contravening section 227(e) of the En...

Letter to Federal Minister of Finance re. Alberta Pension Plan

17Aug

By Bob AscahNo Comments

Uncategorized

Letter to Federal Minister of Finance re. Alberta Pension Plan

I sent the attached letter by regular mail to the federal Minister of Finance last week. My intention is to draw her attention to the private member's bill, C-387 introduced by Edmonton-Strathcona M.P., Heather McPherson during the last sitting of Parliament. The letter is self-explanatory. Ms. McPherson's unreported Bill represents an important widening of the war front in fighting the Alberta government's ill-advised foray into pension investment as part of its sovereigntist agenda. At the foot of this post are earlier posts penned on the Alberta Pension Plan gambit. including a 30-minute interview with Ms. McPherson. Edmonton, Alberta T6C 4R1 12 August 2024 The Honorable Chrystia Freeland, P.C., M.P. Deputy Prime Minister and Minister of Finance Member...