I was at the NAIT Journalism day, you were a great speaker and I really enjoyed listening to what you had to say and advise! Thanks for a super informative day!

Linda Hoang

Well put Romie, well put.

There are more important factors: On the one hand, it is very dangerous when big industry runs government — that is not democracy. But on the other hand, it is tyranny when the government breaks contract — that is not democracy either. As Heather Douglas (Chamber of Commerce) says, whatever changes are made should be made gradually, and that can be orchestrated by simply honouring existing contracts.

It is the very fact that our royalties are lower that brought so much big industry to our province. That is a good thing, in that we are out of debt and prosperous. But it is a bad thing, because it brought droves of newcomers, and our infrastructure is desperately in arrears trying to handle them. And it is also a bad thing because our oil reserves are being depleted quickly… which is why we need greater royalties, to sustain us when the wells dry up! Hopefully the added revenues would be invested, not just spent, or we would really be headed for down times.

Industry, of course, says that they need to keep the money for research and development, not just for greed. It might be interesting to publish the annual incomes of their top executives to see just how much greed is really involved!

Finally, if some industry pulls out and goes elsewhere in Canada, to the Maritimes and Saskatchewan, for example, that might not be such a bad thing. The huge influx of population that we have experienced might slow down and infrastructure could catch up.

Other places could share our prosperity:

“It’s mine, but you can have some.
With you I’d like to share it,
‘Cause if I share it with you,
You’ll have some too.”

And our oil sands would last longer, which would mean we might not need that vast increase in royalties, because our prosperity would settle down a bit and last longer.

I think going slowly would be a good idea. Yes, raise the royalties, but don’t break contract. And don’t pretend the increased income is for the citizens of Alberta NOW, because it should really be for down-the-road, and for diversification.

There are now many others who want to pull out of our province if the measures are taken.

Will that not affect the industry at all?

Or do you believe this is where the oil is and no matter what there will be investment and profit?

(Ihave to play both sides of this argument … it’s my job)

I have worked in the oil & gas industry most of my life. And yes incentives were needed when there was plenty of oil to go around for everybody, because they would drill wherever the best profits could be made.

But things have changed now big time. The $80 a barrel will probably be the base price now, and could easily go to $120 a barrel. Although the oil companies costs have gone up, they have not doubled as the price of oil has. And this is reflected in their profits, the highest profits they have ever had.

If Encana wants to cut back, then that’s great because that will allow someone else to step in, and they will because they can still make money, and they don’t have to deal with kidnappers, al-Qaeda and regimes like Hugo Chavez.

Maybe Stemach should take a page out of Chavez’s book and nationalize the oilsands! Then Encana wouldn’t have to worry about cutting back their investment!

I appreciate your comment but I’m sorry I don’t know what you are referring to. When did I use derogatory language to comment on someone in a hospital gown?

Maybe it was someone else on the station. If that’s the case I’d be glad to talk to them and let them know of your concern.

Please reply because I’d like to get this straightened out…you can even e-mail me if you’d like at cormac.macsweeney@rci.rogers.com or call teh station at 291-0066.

Cormac

I really enjoy 660. I was very disappointed yesterday when you referred to the gentleman in the hospital gown with very dismissive, derogatory language.

I’ve been lucky. I’ve never had any mental health problems, but I realize that anyone can at any time. You could, heaven forbid, be wandering around in a hospital gown on a major road one day. Any of us could.

Please think first before dismissing the less fortunate the way you did yesterday. It was cruel. Try to be more compassionate.

Barb