Sunday, June 8

Politics

Breaking News- Premier Smith’s delivers ultimatum to Trudeau
Energy, Environment, Opinion/Research, Politics

Breaking News- Premier Smith’s delivers ultimatum to Trudeau

Letter from Premier Smith to Prime Minister Trudeau February 16, 2023 Media inquiries Premier Danielle Smith invites Ottawa to collaborate with Alberta on carbon capture, utilization and storage investment and halt introduction of Just Transition legislation and oil and gas emissions cap. Dear Prime Minister: I am writing in follow up to our meeting of February 7th, during which we discussed the need for the Government of Canada to halt introduction of the proposed Just Transition legislation and implementation of unachievable targets and measures under the federal Emissions Reduction Plan (ERP) such as the Clean Electricity Regulations (CER) and oil and gas sector emissions cap. As a much more productive alternative, I invited your government to agree to commencing a collaborative ef...
Budgetary advice from UofC and the Fraser Institute – cross-examined
Budget, Energy, Environment, Opinion/Research, Politics

Budgetary advice from UofC and the Fraser Institute – cross-examined

“Don’t Spend Away the Windfall: Better Options for Alberta’s Unexpected Revenues,” written by Jack M. Mintz, Trevor Tombe, Joel Emes, and Tegan Hill is timely asit arrives a few weeks before the provincial budget (28 February).  This contribution, combining the right leaning Fraser Institute and two well-known University of Calgary economists offers three approaches for considering the windfall by Alberta’s finance minister Travis Toews. The paper’s moralistic title suggests politicians are not to be trusted with windfalls At this moment, we are also awaiting the report of Todd Hirsch who was engaged by the Alberta NDP to study “how an NDP government can stabilize the province’s finances and build a more resilient economy.” His mandate has been interpreted as what to do with the windfall b...
ATB, Financial Institutions, Opinion/Research, Politics

Open Reply to Free Alberta Strategy letter of 2 February to donors on article in The Conversation

On 30 January The Conversation ran an article of mine entitled What the Free Alberta Strategy gets wrong about Canada’s banking system that was reprinted in Abpolecon.ca. On Thursday at 8:01 a.m. I received the following email from the Free Alberta Strategy (FAS). Robert,  The Free Alberta Strategy is back in the news again! This time though, it’s thanks to an attack piece, which we thought we'd take some time to respond to. In a new article published in the federal-government-funded “The Conversation” publication, Robert L. Ascah, a researcher at the also-federal-government-funded Parkland Institute, attempts to lay the hatchet to the Free Alberta Strategy. In his piece, entitled “What the Free Alberta Strategy gets wrong about Canada’s banking system,” Mr. Ascah argues that the Alberta ...
ATB, Banks, Financial Institutions, Fiscal History, Opinion/Research, Politics, Uncategorized

What the Free Alberta Strategy gets wrong about Canada’s banking system

  Reproduced with permission from The Conversation.     January 30, 2023 2.05pm EST Author Robert L. Ascah Robert L. Ascah is a Friend of The Conversation. Research Fellow, The Parkland Institute, University of Alberta Disclosure statement Robert (Bob) L. Ascah is affiliated with Alberta NDP. Partners University of Alberta provides funding as a founding partner of The Conversation CA. University of Alberta provides funding as a member of The Conversation CA-FR. View all partners We believe in the free flow of information Republish our articles for free, online or in print, under Creative Commons licence. Email Twitter Facebook LinkedIn Print What is the Free Alberta Strategy, the co-creation of two lawyers and a Calgary political scientist? And ...
Energy, Environment, Intergovernmental, Politics

Smith to Trudeau- Olive branch or iron fist in a velvet glove?

Last Thursday, Premier Danielle Smith wrote Prime Minister Trudeau about the “just transition” legislation that the Liberal government will introduce this year. At first blush this letter was seen as an “olive branch”.  In Smith’s words:- We can continue with the endless court challenges, legislation to protect jurisdictional rights and inflammatory media coverage over our disagreements, or, as is my strong preference, Alberta and Ottawa can work in partnership on a plan that will signal to all Canadians and investors from around the world that our governments have cooperatively designed a series of incentives and initiatives intended to achieve the following objectives The attempt to dial down the rhetoric may be her government’s response to internal party polling that indicates fights ...
Bankruptcies, Banks, Employment, Energy, Environment, Politics, Uncategorized

Smith as CEO Alberta Enterprise Group to Savage: 29 July 2021- “RStar”

Below is the full text of the letter from then AEG President Danielle Smith to then Energy Minister Sonya Savage concerning a proposed royalty credit for legally required environmental remediation. Analysis of letter is below. ALBERTA ENTERPRISE GROUP 11626-119 Street  Edmonton, AB T5G 2X7   July 29, 2021 Minister Sonya Savage Minister of Energy 394 Legislature Building 10800-97 Avenue Edmonton, AB T5K 2B6   Dear Minister Savage: It was a pleasure meeting with you to discuss a pilot project this fall, to test out the RStar program as a new approach to address the issue of decommissioning and closing inactive wells. I would like to summarize our conversation as you are working with your department officials to understand why this pilot project is so important to our membe...
Environment, Politics

Issues to follow in 2023- Analysis and Opinion- Part 1

Report by Todd Hirsch for NDP on windfall.  In October former ATB Financial Todd Hirsch was given a mandate by NDP leader Rachel Notley to study what to do with windfall revenues received by the province’s treasury. Hirsch was a consummate pick of Notley.   (Full disclosure- I hired Todd as ATB's first economist through a lengthy process which I won't bore you with.) Hirsch was ATB’s chief economist for 15 years and knows the province’s economy inside and out. Hirsch’s persona, excellent speaking raves and travelling to ever part of the province speaking and learning about Alberta’s economy will build enormous economic credibility which the NDP hopes to “capitalize” on.  There are only so many financial alternatives to parceling out a budget surplus: 1) pay down debt, 2) spend the money, o...
A Nod to Independence- Alberta Sovereignty (within a United Canada) Act
Energy, Environment, Investment, Opinion/Research, Politics

A Nod to Independence- Alberta Sovereignty (within a United Canada) Act

Much ink, digital and audio content has been accumulated in the nearly two weeks that has elapsed from the Throne Speech and introduction of Bill 1. the Alberta Sovereignty Within a United Canada Act (ASWUCA) became live. Pundits, learned professors, business people and the loyal opposition have weighed in. The reviews have been rather negative for the most part with much of the criticism aimed at the Henry VIII clauses embedded in the Bill. I walk through the main portions of Bill 1 offering comments and opinions. From what Premier Smith tells us she is open to changes.  These changes came a week later after heavy criticism from many quarters including the Calgary Chamber of Commerce. At the end of the day, the Act may have all the huffing and puffing that went into the equalization r...
Exxon money leaving Alberta’s oilpatch
Energy, Investment, Opinion/Research, Politics

Exxon money leaving Alberta’s oilpatch

Imperial was the first of Canada's Big Oil to issue a third quarter report. The shareholders of Imperial, or IMO to markets, are receiving a rather parsimonious dividend ($227-million) which is being raised 29 per cent (from still a relatively low, conservative level). In addition to about $170-million in clash dividends this quarter,  Imperial will  buy back $1.5-billion ins shares and repay debt owing to Exxon of $1.0-billion.  It is evident that Exxon-Mobil wants more return in the form of cash from its oil sands "experiments." It will be up to Imperial's Canadian board and management to fight to prolong the life of the oilsands primarily through generous Canadian taxpayer handouts, not Exxon investment. For nine-months to 30 September 2022, Imperial paid $1.6-billion in royalties mostl...
Reflections on 2 political conventions – Alberta style
Energy, Environment, Opinion/Research, Politics

Reflections on 2 political conventions – Alberta style

Updated 2 November 2022 I spent October 21-23 at the NDP conventions at Calgary’s Hyatt Regency. The Hyatt is a tony place for a “labour-based” party and six years before it was the Hyatt too which welcomed DIPers.  By my third convention I did finally find a hospitality suite, two to go to in fact, with rumours of a third. Most sophisticated parties, like Alberta's NDP, now operate with sponsoring organizations to create the single most spectacular annual gathering of the parties' core supporters. The usual organizations for both parties are also relying on business for support. I could see why some business groups and others are investing time of senior people at these conventions simply to ensure they have a voice “in” a prospective NDP government It was very strange that the UCP were h...