Politics Archives - Page 10 of 11

Federal Energy Program Finally Announced- Analysis/Opinion

20Apr

By Bob AscahNo Comments

Bankruptcies, Banks, Energy, Energy, Environment, Opinion/Research, Politics

Federal Energy Program Finally Announced- Analysis/Opinion

Belated Announcement On Friday, 17 April, the anxiously awaited federal program to support the oil and gas industry was announced by Natural Resources Minister Seamus O’Regan (pictured). Details were minimal despite weeks of waiting. As anticipated, much of the money was directed at orphan well clean up in Alberta, Saskatchewan and British Columbia. The amount- $1.75 billion was substantial and included $75 million for the offshore sector. In addition, $750 million was allocated to “create a new Emissions Reduction Fund to support workers and reduce emissions in Canada's oil and gas sector, with a focus on methane.” The announcement noted that the measure will maintain about 5,200 jobs in Alberta alone. In addition, loans would be provided through the Business Development Bank to qualifyin...

3Apr

By Bob AscahNo Comments

Agencies, Energy, Government Finances, Opinion/Research, Politics

Politics of Alberta Growth Mandate (AGM)

Politics of the Alberta Growth Mandate In past articles, the Alberta Growth Mandate was explained as a significant policy initiative in the first NDP budget of October 2015. It should be noted that, in the fall of 2015, Alberta was reeling from significant declines in investment and job losses, and a rookie NDP government was looking for quick wins to support jobs in the Alberta economy. The policy objective was to support Alberta companies (as defined by the Alberta Investment Management Corporation (AIMCo)) and based on meeting one of the following criteria. a. Creates jobs in Alberta b. Builds new infrastructure in Alberta c. Diversifies Alberta’s economy d. Supports Alberta’s growth e. Connects Alberta’s companies to export markets f. Develops subject matter expert...

Alberta ‘Growth’ Mandate- Analysis and Opinion

22Mar

By Bob AscahNo Comments

Agencies, Budget, Government Finances, Opinion/Research, Politics

Alberta ‘Growth’ Mandate- Analysis and Opinion

While now is not necessarily the best time to be taking stock of one's investment portfolio, government and provincial agency officials, who face a March 31 fiscal year end deadline, are concerned about the impact of accounting rules that require "fair market accounting" for their investments. The performance of both bond and equity markets over the next ten days will determine whether forecasts for investment income in the provincial budget ($1.96 billion for the Heritage Fund) will actually pan out. Investment income for investment portfolios are typically composed of two types of income: (1) dividends and interest payments or cash distributions from private equity, and (2) increases or decreases of the "fair value" of the investment at year -end compared to the initial cost of buy...

1Mar

By Bob AscahNo Comments

Energy, Energy, Environment, Investment, Politics

Teck withdraws from Frontier

Teck's withdrawal signifies a major turning point in the struggle between forces opposing a fundamental shift in the use of fossil fuels and governments and industries resisting a transition. The company's signalling that Teck would have to write off $1.l billion of its spending on the Frontier project, foreshadowed the difficult corporate decision. The immediate political fallout: in Ottawa a sigh of relief. In Alberta: instant anger but also a slow realization, a coming to terms that the "last boom" was indeed the last boom. It is now time for the adults in the room to come to terms with a new tomorrow. It will be especially painful for the Kenney government which had placed so much attention on the project, demanding "Ottawa" approve the project. But the tone was irrelevan...

A “fair deal” for Alberta? Historical Perspectives

11Nov

By Bob AscahNo Comments

Energy, Politics

A “fair deal” for Alberta? Historical Perspectives

On Saturday, 10 November, Premier Jason Kenney spoke to the Manning Centre “What’s Next?” Conference in Red Deer. His one-hour, five-minute speech was a spirited lament for the manifest unfairness directed towards Alberta in confederation. His speech recounted the long litany of indifference from the federal government and grievances dating back to Alberta and Saskatchewan's entry into the federation. In his speech, he stressed the immediate need for his administration to exercise leverage on the federal government. At the end of the speech, he identified a number of "demands" to the federal government including an "equalization" (sic) payment of $1.6 billion and tax credits to help Alberta companies to address orphan wells. Numerous grievancs were cited: senate reform, equalization, A...

30Oct

By Bob AscahNo Comments

Budget, Government Finances, Politics

Sales Tax for Alberta?

Recently there has been a renewed interest in a sales tax for Alberta. Grant Bishop of the C.D. Howe Institute writing a "Shadow Budget" for Alberta, has suggested the introduction of a sales tax after the budget is balanced through spending cuts. In a recent report from the Parkland Institute, Cutting Through the Blue Ribbon, authors Bob Ascah, Trevor Harrison, and Richard Mueller conclude that a provincial sales tax, harmonized with the federal Goods and Services Tax, is an appropriate fiscal measure to achieve fiscal sustainability. SUch a revenue measure would directly address Alberta's chronic vulnerability to fluctuating commodity prices. Then in an October 25th piece in The Globe and Mail, Max Fawcett argues that Jason Kenney, like Richard Nixon going to China, is uniquely placed ...

30Oct

By Bob AscahNo Comments

Opinion/Research, Politics

Let’s Just Take a Deep Breath- Opinion

Our political leaders, both provincial and federal, need to take a deep breath. Premiers Kenny and Moe specifically need to reset their expectations after the rather surprising election victory by Trudeau built on the wings of Canada’s unfair “first-past-the-post” system. Yes Alberta, and to a lesser extent, Saskatchewan, have endured over four years of lousy economic performance. However, unemployment increases and declining investment are due mainly to our economy’s being hostage to internationally determined oil and gas prices, not Ottawa’s policies. Political leaders in this province have talked for decades about “getting off the energy roller coaster.” Common lore – “give us another oil boom and we promise not to piss it away again” has not seemed to penetrate our political leaders’...

Environmental liabilities… will not go away

26Apr

By Bob AscahNo Comments

Environment, Financial Institutions, Politics

Environmental liabilities… will not go away

Alberta Liabilities Disclosure Project (ALDP) On 5 April, the ALDP held a news conference to raise awareness about the scope and scale of the orphan well issue in the Province of Alberta. According to its website, the ALDP "is an independent and non-partisan initiative pushing for accurate and transparent government level data pertaining to Alberta's oil and gas liabilities." This initiative, of which I am a participant, is aimed at making oil and gas environmental liabilities an issue during the recent provincial election. While media outlets such as The Globe and Mail, National Observer and Postmedia shared information about the initiative, political parties -other than the Alberta party's David Khan and Dr. David Swann, did not click on the bait. Regan BoychukSource: National...

22Apr

By Bob AscahNo Comments

Politics

Election 2019- Analysis (Part 1)

Highlights (Revised 25 April 2019) UCP dominant in rural Alberta, CalgarySecondary parties lose seatsKenney's vision relies on strong business backingRegulatory reform will have its challenges Alberta Government Logo Overview of Results Elections Alberta results to 19 April at 17 :14:34 shows 7,326 of 7,326 polls reporting. Political PartyVotes-SeatsPercentAlberta Party170,872 - 09.1%Alberta Independence Party13,481- 00.7%Liberal Party of Alberta18,457 -01.0%New Democratic Party615,428 -2432.7%Freedom Conservative Party9,856 -00.5%United Conservative Party1,030,560 - 6354.8%Alberta Advantage Party5,619- 00.3%Green Party of Alberta7,687-0 0.4% Source: https://results.elections.ab.ca/wtResultsPGE.htm Last Updated: April 19, 2019 - 17:14:34 The UCP received a ...

Journey to obsession: a sales tax for Alberta (Part 1)

29Mar

By Bob AscahNo Comments

Budget, Government Finances, Politics

Journey to obsession: a sales tax for Alberta (Part 1)

The following is a draft of the preface for the unnamed as yet book title about a sales tax for Alberta- hopefully forthcoming in the summer of 2019. The following is a personal set of experiences related to the sales tax discussion that is not included in the book. It's the story of my interest, then obsession, about the rationale for Alberta adopting a sales tax.. One of my initiatives at the Institute for Public Economics (UofA) when I became Director was to initiate a policy analysis publication. The first endeavour, (of three), was a paper by Dr. Ergete Ferede of MacEwan University. The paper, entitled “The Response of Tax Bases to the Business Cycle: The Case for Alberta,” looked at the volatility of certain tax sources, including a PST. I vividly remember the following fro...