Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

Alberta government flip-flops on corporate welfare

It’s time for the UCP to drop its newfound interest in picking winners and losers

Alberta government flip-flops on corporate welfareIt’s a sad day for taxpayers when their government that has “committed to being responsible stewards of taxpayers’ hard-earned money” starts bragging about its corporate welfare spending. Premier Jason Kenney should immediately scrap the new business subsidy programs his government just announced and go back to focusing on cutting taxes for everyone rather than picking…

Alberta’s desperation opens the door to environmental ruin

The government of Premier Jason Kenney has decided to end a 44-year moratorium on open-pit coal mining in southern Alberta

Alberta’s desperation opens the door to environmental ruinDesperate times sometimes lead to catastrophic measures. In Alberta, the beleaguered provincial government is in a financial situation that could be characterized as desperate, suffering from the double-whammy of collapsed resource revenues and, of course, the massive spending required to address the social wildfire known as the COVID-19 pandemic. The desperate measure that the United…

Corporate tax cuts aren’t just a handout to the rich

Higher corporate income tax doesn’t just impose costs on people who own corporations, but also people who work for them

Corporate tax cuts aren’t just a handout to the richThe Alberta government recently announced plans to help encourage economic recovery and growth in the province, including a plan to accelerate corporate income tax reductions that were already in the works. The corporate tax rate will drop from 10 per cent to eight per cent immediately instead of gradually over the next two years. Critics…

Alberta sweeps away energy industry roadblocks

Alberta sweeps away energy industry roadblocksBy Jairo Yunis and Steven Globerman The Fraser Institute The Alberta government recently introduced Bill 22 (the Red Tape Reduction Implementation Act), delivering on a campaign promise to streamline regulations across the provincial government. While details aren’t yet clear, the bill proposes a whopping 14 legislative changes across six ministries. Proposed changes include removing residency…

Alberta can reduce income taxes by cutting government labour costs

Tying income tax relief with savings from bringing government compensation in line with costs in other provinces will help put Alberta back on its feet

Alberta can reduce income taxes by cutting government labour costsFor Alberta to get back on its feet, it’ll take thousands of little things like families going out for pizza and restaurants rehiring servers to bring out those pizzas. The best thing Alberta Premier Jason Kenney can do to help those families do those little things is to lighten their tax burdens. And the premier…

Investing in green future easier said than done for Alberta

Capitalizing on an educated workforce and taking a hard look at taxation would help the province diversify its post-pandemic economy, according to U of A experts

Investing in green future easier said than done for AlbertaGrowing Alberta’s sustainable energy sector alongside its conventional energy backbone might be a short-term remedy for pulling the province out of its current financial crisis, but University of Alberta economists say it won’t necessarily help the province compete globally. Joseph Doucet, dean of the Alberta School of Business, agrees that investment in a greener future…

Alberta municipal gov’t labour costs out of touch with reality

Alberta municipal gov’t labour costs out of touch with realityStruggling families and businesses can’t afford to pay big property tax bills to fund bloated municipal governments. Alberta municipalities need to reduce that burden by addressing the cost elephant in the room: labour. For many Albertans working outside of government, the last five years have been nothing short of a nightmare full of job losses,…

Corporate welfare no way to help the economy

Corporate welfare no way to help the economyBusinesses need help, but it’s important to provide the right help the right way. Premier Jason Kenney’s economic strategy has so far revolved around three core principles: lowering taxes, cutting red tape and pushing back against Ottawa. Kenney should double down on these principles to help Alberta recover and stay away from corporate welfare. “The…

Energy industry investment cools dramatically

The oil price crash of recent weeks has triggered a wave of huge exploration and production capital expenditure cuts

Energy industry investment cools dramaticallyLack of appetite to invest in the energy sector is leading the world into a supply crunch, says the International Energy Agency (IEA) in its recently unveiled World Energy Investment (WEI) 2020 report. The COVID-19 pandemic is having widespread and often dramatic effects on investments in the energy sector. At the start of the year,…
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