Economic Data Archives - Page 3 of 3

6Nov

By Bob Ascah3 Comments

Economic Data, Energy, Fiscal History, Government Finances

Presentation to Professors Emeritus

Yesterday I presented to a small but engaged group of retired University of Alberta emeritus professors. My talk was provocatively entitled "Alberta's Crumbling Economic and Fiscal Foundation." Key points emphasized in the presentation include: Volatility in price of oil over past 6o years and its impact on provincial finances Over past 40 years Non-renewable resource revenue represents a high of nearly 50 per cent of own source revenue (excludes federal transfers) to lows of just under 10 per cent recently. Based on Canadian Association of Petroleum Producers data since 1947, Alberta collected royalties equivalent to about 10 per cent of the total value of production over this 70-year span. In the early 1980s, Albertans were receiving about one-third of the rent from their resource owne...

Hyndman Papers- Budget 1981 preparations

31Jul

By Bob AscahNo Comments

Budget, Economic Data, Government Finances

Hyndman Papers- Budget 1981 preparations

After the National Energy Program was announced, Alberta was about to enter a period of recession that would shape fiscal policy for over the next four decades. As this excerpt from a January 1981 memorandum from Deputy Provincial Treasurer A.F. (Chip) Collins reveals, the province's budget-makers faced a climate of great uncertainty. Over the coming months, Abpolecon.ca will be reporting the internal discussions, at the highest levels of the Alberta government, respecting economic activity and proposed budgetary measures. This tumultuous period offers interesting parallels to what Treasury Board and Finance budget-makers are dealing with. As this excerpt from Provincial Treasurer Lou Hyndman's files illustrates, 1981 was turning into annus horribilis. As the Treasury department prepar...

Hyndman Papers- Wilson, Percy and Norrie

13Jun

By Bob AscahNo Comments

Budget, Economic Data, Fiscal History, Intergovernmental, Politics

Hyndman Papers- Wilson, Percy and Norrie

Oil prices, Interregional Adjustment and the Canadian Economic Union In the summer of 1980, federal-Alberta relations were going through a period of conflict and mutual suspicion. Around the same time as the Mellon memo and the Treasury review of Alberta's contribution to Confederation, three respected economists from the University of Alberta produced a paper for the Treasury on the oil, interregional adjustment, and the Canadian economic union. The 4-page Executive Summary (presented below) examines the question of how might an adjustment to the terms of trade within a federal state (i.e. higher oil prices) ideally be carried out. Key issues examined include: the structure of ownership of natural resources (public versus private); redistribution or recycling of oil wealth in a fed...

25May

By Bob Ascah2 Comments

Economic Data, Fiscal History, Intergovernmental

Hyndman Papers

Alberta's Contribution to Confederation circa 1980 In August 1980, Alberta intergovernmental relations were heating up as the earlier Mellon memo attested to. The National Energy Program was about two months away from release, a release that would fuel the flames of western separatism. Concerns were festering in Alberta about the cost-benefits of remaining in Confederation. In the Briefing Note below, authored by Treasury officials in the Fiscal Policy and Economic Analysis Division documented the inflows and outflows to and from the federal Treasury over a 16-year period. The Table below summarizes two tables from the paper- the cumulative totals for provinces and a combined B.C., Yukon, and North West Territories and the discounted cumulative totals. The information was derived...

Transitioning to the Clean Energy Economy

31Oct

By albertarecessionwatchNo Comments

Economic Data, Opinion/Research

Transitioning to the Clean Energy Economy

Originally posted on 31 October 2017 Several headlines stood out over the past week, which, provide further context to the governing dilemma facing the New Democratic government. The dilemma is running a state that historically could run deficits seemingly indefinitely and not have to raise taxes. The second piece of the dilemma is the economic transition away from fossil fuel consumption. (more…)

7Oct

By albertarecessionwatchNo Comments

Economic Data, Politics

Oil’s Deep State

Originally posted 7 October 2017 Kevin Taft's new book Oil's Deep State, sub-titled "How the petroleum industry undermines democracy and stops action on global warming- in Alberta and in Ottawa," was released on 26 September to a large audience at the UofA's TELUS Centre. The book launch was sponsored by the Parkland Institute and Alberta Views newsmagazine. The book is a "must read" for anyone who is interested in Alberta politics and society. (more…)

17Sep

By albertarecessionwatchNo Comments

Economic Data

Is Alberta out of Recession?

After at least two years of poor economic performance, it is fair to examine recent economic data to ascertain and to judge whether the Alberta recession is over. (more…)

9Dec

By albertarecessionwatchNo Comments

Economic Data

Economic Outlook 2017

At the 2017 Economics Society of Northern Alberta Outlook conference held on 8 December at the Chateau Lacombe, Associate Professor of Political Science, Greg Anderson spoke to the possible impact on Alberta from the election of Donald Trump. (Anderson is a specialist in U.S.-Canadian relations.) His talk "The (Dis)United States of America and POTUS 2016"- placed the election results in the broader context of global events such as the Brexit vote and immigration crisis in Europe. (POTUS stands for President of the United States.) In observing that filmmaker Michael Moore predicted Trump's victory in Michigan (a state that Moore is quite familiar with), Anderson recounted the shock and paralysis of the Clinton camp on election night. Trump was much better at tapping into the grim economi...