Alberta Surplus $7.4 billion

[ZenOps]

http://www.cbc.ca/story/business/national/2006/02/27/albertasurplus-060227.html

[neilson]

Thank You Oil For Making King Ralph And The Pcs Look So Good!

[divx]

Wow, the Finance Minister must have an easy time at work with all those surplus, job well done.

[joyous]

definitely wouldn't mind another prosperity cheque soon ;)

[rf134a]

A good chunk of this has already been allocated towards future expenses and savings. $1Billion will be allocated towards the Alberta Heritage & Savings Plan, the first contribution in 19 years. The Health Authorities have requested and been approved for $1.6Billion in new spending. Due to the aging population, health is and will be the largest expenditure for most Governments for quite a long time. So, that's $2.6B out of $7.4B spent already. I'm sure we can think of stuff to spend $4.8B on. Like buying Vancouver or something. ;)

[neilson]

A good chunk of this has already been allocated towards future expenses and savings. $1Billion will be allocated towards the Alberta Heritage & Savings Plan, the first contribution in 19 years. The Health Authorities have requested and been approved for $1.6Billion in new spending. Due to the aging population, health is and will be the largest expenditure for most Governments for quite a long time. So, that's $2.6B out of $7.4B spent already. I'm sure we can think of stuff to spend $4.8B on. Like buying Vancouver or something. ;)

Widen Highway 63 to 6 Lanes; Paved with Gold!

And an Alberta Museum of Music History, but this time put it in Hanna!

Statues in honor of King Ralph, Myron Thompson, Rob Anders(Hell YEAH!), and PRIME MINISTER Stephen Harper!

Buying Labrador!

[gaurav_fhs]

Buying Labrador!
:lol:

[DigitalN.]

A good chunk of this has already been allocated towards future expenses and savings. $1Billion will be allocated towards the Alberta Heritage & Savings Plan, the first contribution in 19 years. The Health Authorities have requested and been approved for $1.6Billion in new spending. Due to the aging population, health is and will be the largest expenditure for most Governments for quite a long time. So, that's $2.6B out of $7.4B spent already. I'm sure we can think of stuff to spend $4.8B on. Like buying Vancouver or something. ;)
finish highway 43 :mad: :mad:

[bionicbadger]

Widen Highway 63 to 6 Lanes; Paved with Gold!


Actually they have already allocated funds to twin the highway to Fort McMurray.

Peter Lougheed had a good idea, he said 1/3 of the oil revenue should be invested in to the Heritage trust fund. Not 1/3 of the surplus, 1/3 of the revenue. That would get rid of most of the surplus (a good thing) and prevent it from being wasted on dumb crap.

[neilson]

Actually they have already allocated funds to twin the highway to Fort McMurray.

Why do you guys say "twin"?

It's a Road Widening, or an Road Expansion; I just don't get the wording "Road Twinning".

Sounds somewhat British.

[FastFokker]

Peter Lougheed had a good idea, he said 1/3 of the oil revenue should be invested in to the Heritage trust fund.What a nutcase, doesn't he know the oil will last forever??

[Narci]

Makes me wonder why with all that money, why Alberta isn't the financial capital of Canada or never will be?

[stevethewheel]

With all this cash and little debt I expect a hostile takeover will be launched by a US or European mogul.

[FastFokker]

With all this cash and little debt I expect a hostile takeover will be launched by a US or European mogul.Time to convert the Gun Registry Site into a Gun Manufacturing Site!

WE MUST TAKE UP ARMS AND FIGHT!

:D

[Narci]

I believe China has already bought the right to extract oil out of the tarsands..or something like that.

[FastFokker]

I believe China has already bought the right to extract oil out of the tarsands..or something like that. :confused:

Didn't anyone tell China we're already extracting oil out of the tar sands? :lol:

[bionicbadger]

Why do you guys say "twin"?

It's a Road Widening, or an Road Expansion; I just don't get the wording "Road Twinning".

Sounds somewhat British.

Because they are twinning the highway. Not widening it. They are builing another road next to it that will turn it into a divided highway, thus "twinning"

[bionicbadger]

Makes me wonder why with all that money, why Alberta isn't the financial capital of Canada or never will be?

Slowly getting there, more companies are moving head offices here because of lower tax rates.

[dealguy2]

Alberta is the perfect example of the consequences of those scary conservative policies. No debt, huge surplus booming economy. Horrible really.

[deep]

Alberta is the perfect example of the consequences of those scary conservative policies. No debt, huge surplus booming economy. Horrible really.

Yes, especially the "scary conservative policy" of "sitting on top of a liquid gold mine". Surely the Liberals or NDP would have moved Alberta to somewhere less profitable.

[Tiberius]

Alberta is the perfect example of the consequences of those scary conservative policies. No debt, huge surplus booming economy. Horrible really.

How about you re-crunch the numbers with the oil revenues off the books (and if you really want to be proper about it - back out residual revenues from supporting industries, income taxes of oil field workers, etc.) and then see how the budget balances... I'd bet on a deficit...

It has nothing to do with "conservative policies"... it's because of natural resources Alberta is blessed to have. Heck... even the NDP could have run a surplus in Alberta!

[Bincent]

Alberta is the perfect example of the consequences of those scary conservative policies. No debt, huge surplus booming economy. Horrible really.

I really don't think that conservative policies have anything to do with the fact that they are having a better economy in Alberta. The world needs oil and Alberta is fortunate to have supply of it. This has nothing to do with political policy. If Alberta had no oil and their economy did just as well as it does today, then I would attribute that to a good government. Otherwise, it's just the right place at the right time.

[Codegen]

I wonder if Alberta would mind forking some of that over here and fix up James Street :razz:

[FastFokker]

The fact it costs something on order of ~$15 to extract 1 barrel of oil from the tar sands and it's still $EXTREMELY$ profitable has nothing to do with Albertan Conservatives. :lol:

[TenzoR]

congrats to Alberta!

[dealguy2]

Only 19 percent of Alberta's gross domestic product is from oil.

[FastFokker]

Only 19 percent of Alberta's gross domestic product is from oil.ONLY?!?!? :lol:

[IceMan77]

Only 19 percent of Alberta's gross domestic product is from oil.

That's a downright lie!

[Rosico]

Buy Greenland or Turks and Cacos ... make that a private island getaway for tired Alberta workers who toil for oil.

[IceMan77]

or just buy Newfoundland to ensure a steady supply of workers to the Fort McMurray oilsands.

[dark169]

I love how anti conservatives always look away from alberta's conservative example and discredit it becuase of the oil $$. Funny how a left big P little c government ran a deficeit (and inherited alot of problems from previous socail governments) but only when it became pC not Pc did the books get balanced.

Sure blame others provences inabilty to get their funds in order on the lack of oil, OR blame the real reason. Ont has the huge finaical and manufacturing industies yet can't do it.
And truth be known theres oil to be found in every provence, BC saw this in the last decade and are now proftigin from NG and oil production in the north. Sask has sizable oil reserves, off shore has been hindered by provencial and federal politics. If 10 years ago sask put tax plans simular to alberta's into developing the oilsahle desposits they today would be closing in on producing oil, sadly they held back and only now are thinking about it, theres a 10 year lead time to these things.

The oil sands didn't pop up all of asudden, it was cultivated though pretty sweet tax incentives. New plants pay 1% tax on the oil until their capital costs are recovered then it increases to the normal rate (20%ish I think) where as normal production doesnt get that same benift.

If you think an NDP government would have given the thumbs up to giant strip mines on native lands, I have a bridge for sale...

I do agree that large % of oil revenue should go into various funds. Not just the heritage funds. a 10% return on 10billion could fund some provences :lol:

[ill_mango]

sorry if this is stupid...but what is the heritage fund? Does the money go towards making museums and making Albertans proud to be Albertans?

[bionicbadger]

http://www.finance.gov.ab.ca/business/ahstf/faqs.html sorry if this is stupid...but what is the heritage fund? Does the money go towards making museums and making Albertans proud to be Albertans?

Government savings account

[Evil Baby]

sorry if this is stupid...but what is the heritage fund? Does the money go towards making museums and making Albertans proud to be Albertans?


As far as I understand, its a fund set up to help Alberta out when the oil runs dry. I'm sure they will have many other industries before that but just in case it's nice to pay into.

[hyperion]

I want a piece of that..we live in the same country :(

[Hellfire]

We have a bigger surplus than the feds, ahahha

[Casanova]

We have a bigger surplus than the feds, ahahha
thanks to th oil!

[TrevorK]

thanks to th oil!

It's probably the main reason the feds have the surplus too - considering how many billions more flow to Canada than are giving back.

[hugh_da_man]

thanks to th oil!

and the hard working Albertans who have the motivation to pull it out of the ground!

But I guess someone has to do the work, we can't just all sit back and complain about Alberta's oil revenue...

[FastFokker]

or just buy Newfoundland to ensure a steady supply of workers to the Fort McMurray oilsands.Why buy the cow when the milks flowing for free?

Alberta has already stolen away many maritimers.

Funny how it goes, unemployment is lower than ever in the Maritimes thanks to the Canadian Tarsands. So many people have left for a new life that there's A LOT of movement out here.. it's pretty easy to find a job these days. That's a change!

The tar sands are just plain good for Canada.. not just Alberta, but for every single one of us as citizens of this country.

[IceMan77]

Why buy the cow when the milks flowing for free?

Alberta has already stolen away many maritimers.

Funny how it goes, unemployment is lower than ever in the Maritimes thanks to the Canadian Tarsands. So many people have left for a new life that there's A LOT of movement out here.. it's pretty easy to find a job these days. That's a change!

The tar sands are just plain good for Canada.. not just Alberta, but for every single one of us as citizens of this country.

Stolen? They're moving there on their own!

On a side note, Air Canada has just increased the number of direct flights into Fort Mac from Newfoundland.

[konfusion666]

Alberta is the perfect example of the consequences of those scary conservative policies. No debt, huge surplus booming economy. Horrible really.

Actually, everyone's favourite Conservative cheerleader has already admitted as to the real reason for Alberta's boom:

Thank You Oil For Making King Ralph And The Pcs Look So Good!

Sorry dealguy2, but "Oil" is not a conservative policy...

[dealguy2]

That's a downright lie!

Nope it's from stats can.

[Ojam]

Alberta: Overview and Opportunities
Alberta has huge deposits of oil sands, which are being developed at an unprecedented rate. At the end of 2003, oil sands production exceeded one million barrels per day and accounted for more than 40 per cent of the total western Canadian oil production. Energy accounts for approximately 25 per cent of Alberta´s GDP, for one-third of the revenue allocated under Alberta´s provincial budget, and for just over half the value of the province´s total exports. Furthermore, nearly one out of every six workers in Alberta is directly or indirectly employed by the energy industry.

http://www.investincanada.gc.ca/en/954/Clusters.html

[Daemar]

http://www.investincanada.gc.ca/en/954/Clusters.html

keyword is 'energy' which includes more than just oil.

[dark169]

Sorry dealguy2, but "Oil" is not a conservative policy...

Yes it is, NDP would rather you freeze to death then deal with the real world and burn hydrocarbons for engery. And it was the conservatives who set up the tax program that started the oilsands boom, that tax system was in place back when oil was 18/bbl and thanks to the conservative thinking its now paying back in spades.

Just so everyone doesnt feel left out, the rest of canada does get its cut remember oil companies pay federal taxes like every other company. And yes we all live in canada, but guess what natural resouces under the provence belongs to the citizens of that provence, period. No one bitches about getting a cut of the mineral minning of Ont or a slice of the forestry revenues of BC, just becuase its oil/gas doesnt make it differnt then all the other natural resources.

[FastFokker]

Yes it is, NDP would rather you freeze to death then deal with the real world and burn hydrocarbons for engery. :lol: We've had NDP government in Halifax for years upon years now, and I'm still warm and toasty.

Oh yeah and that warmth is derived from dirty energy production. Our heat comes from burning oil and our electricity comes from burning coal.

Perhaps you're thinking of the Green Party? Even still your accusations would be an exageration, but especially so in picking the NDP. :lol:

[asim99]

keyword is 'energy' which includes more than just oil.
of course, it includes the wind turbines in the province as well :cheesygri