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Alberta Election: NDP Wins Majority to End PC Dynasty


DonLever

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Tired of the corruption that permeates everywhere the Conservative party goes. Historic day for Alberta! Somewhere, poor Redford is crying tears on her private jet.

Hahaha, yes, the NDP will be a corruption free government.

Say goodbye to corruption Alberta, you have nothing but honest and translucent government related affairs now.

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Considering how badly the PCs have ruined the province's bottom line despite having tons of economic advantages (higher oil royalties are basically a 'Get out of debt free' card that most parts of the world do not have.

NDP need to:

-Raise royalties on oil

-Raise corporate tax

-Establish a more reasonable minimum wage ($10 is a joke considering how much Canadians are already taxed)

Before you tell me businesses will move on, remember Alberta has the oil. That oil is basically a money press. Nobody's leaving. Put some of these strategies in place now, and the government can even lower taxes later on, after some of the fiscal damage has been repaired.

Alberta "Had" the oil before the revolution of Hydraulic fracturing. Oil is now heavily abundant globally. May it be short term or not, there isn't much time for experiments.

Anyone who has been watching the Q1 results of the energy sector the past few weeks knows they aren't making any money at these depressed oil prices. Precision drilling for example, reported a 76% reduction of profit in comparison to last years Q1 results. Tacking on corporate tax and Adding royalties at these current oil prices is no joke. These companies aren't interested in feeding the middle class, they are interested in feeding their shareholders.

After a windmill is up and running it employs at best 5 people a year per windmill, he'll call it 10. A drilling rig is more like 60 people a year directly, indirectly who knows. Clean energy is great, but it doesn't employ a lot of people once in place. Its extremely expensive to implement the new infrastructure and workforce.

All of these leaps in green energy will add pressure to oil. Could be tough times ahead. Our dollar is directly linked to the price of oil, some of the darkest days in Canada are all correlated to depressed Oil prices.

I am open for change, but there must be balance.

Oil isn't as hard to find these days and technology is only making it easier. We don't have that hand to force on oil companies today.

Something does need to be done about the boom and bust. A big part of that should be clean energy. I just hope the transition is a careful one.

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Say what?

You mean all those people working the Oil Patch and supporting the Oil industry are all non union?????

Yes, lowest in Canada - but that's still a lot of voters:

http://www4.hrsdc.gc.ca/.3ndic.1t.4r@-eng.jsp?iid=17

c_3_17_4_1_eng.png?20130712085500446

By no unions I should have specified, my apologies.

Unions deemed NDP friendly. Like the BCTF. That is the big hue and cry about the NDp is that they're union lovers. Helping or supporting the working man never seems like a bad idea to me. Working people built this country and men in suits are destroying it

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Will this government have much of an impact on the oil patch?

In theory, yes, adding royalties drives up the break even cost of oil. Canada already has some of the highest cost/bbl in the world. The oilsands produces "Canadian select" ( heavy garbage) oil which has been around 30ish a bbl for quite some time now. Once hedging runs out there will be some desperate CEOs.

However, I don't think the NDP is that stupid. I'm sure a game of chicken will take place and the government will take a similar amount of royalties as today. They will move the numbers around to appear like an increase. Royalties are so complex that it would be fairly easy to do.

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Living in Alberta I can say that an NDP win isn't surprising to me at all, maybe the margin of victory but the fact that they won? Nah.

Allison Redford left a bad taste in everyones mouth and Prentice didn't really do much to try and correct that. Personally I thought Wildrose would take more ridings but NDP did everything right in the election and should be commended for toppling the PC oligarchy that has ruled here for so long.

The king is dead...long live the queen! Let's hope she doesn't stumble around the political landscape as bad as her predecessors did.

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Energy sector down 3.5% on the TSX

absolutely insane.

The oil companies and speculators have their collective panties in a twist because the free ride is over.

At worst Notley will reset royalty rates and corporate taxes to the levels they were when Klein first took power. He then resided over some of Alberta's mist prosperous years.

When corps investors and speculators cry. The people win.

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Alberta "Had" the oil before the revolution of Hydraulic fracturing. Oil is now heavily abundant globally. May it be short term or not, there isn't much time for experiments.

Anyone who has been watching the Q1 results of the energy sector the past few weeks knows they aren't making any money at these depressed oil prices. Precision drilling for example, reported a 76% reduction of profit in comparison to last years Q1 results. Tacking on corporate tax and Adding royalties at these current oil prices is no joke. These companies aren't interested in feeding the middle class, they are interested in feeding their shareholders.

After a windmill is up and running it employs at best 5 people a year per windmill, he'll call it 10. A drilling rig is more like 60 people a year directly, indirectly who knows. Clean energy is great, but it doesn't employ a lot of people once in place. Its extremely expensive to implement the new infrastructure and workforce.

All of these leaps in green energy will add pressure to oil. Could be tough times ahead. Our dollar is directly linked to the price of oil, some of the darkest days in Canada are all correlated to depressed Oil prices.

I am open for change, but there must be balance.

Oil isn't as hard to find these days and technology is only making it easier. We don't have that hand to force on oil companies today.

Something does need to be done about the boom and bust. A big part of that should be clean energy. I just hope the transition is a careful one.

One big difference. The 60 guys hired to drill oil have jobs until the oil is there. Once it runs out. Off to the next hole. Those 5-10 jobs in the windmill. Guess what those are long term jobs. After 20 years, another windmill gets build/or refurbished. Those are sustainable, long term jobs. That's the direction industry needs to move to.

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