Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
Posted on 09/30/2007 1:41:48 AM PDT by familyop
What matters to me is whether they are planning on breaking existing contracts or not.
If they are then they’re no better than the other lawless countries around the world from Russia to Venezuela.
Future contracts are always negotiable. Not done deals.
...In the latest financial note to condemn Alberta's changing landscape, entitled The Bolivarian Republic of Alberta, Deutsche Bank said yesterday to clients that its first reaction was that the report was authored by a visiting delegation of Venezuelans.
Deutsche Bank highlighted the escalating risk of investing in the province: "Risk, risk and risk, and there's risk. Above all, be warned about risk," it said.
Yup. A lot of people have apparently forgotten about who pulled the pins on the last North American oil boom.
Liberal politicians, elected by those already on the gov’t dole, screwing up the prosperity in Alberta.
I have been to Edmonton. Beautiful city. You can see the oil-effect in the modern buildings and clean streets.
Typical anti-business liberals will cause widespread unemployment in an area that has very little other industry to turn towards.
Lesson: Never stay home or waste your vote. Letting liberals into power has far-reaching affects.
“pigs get fat, but hogs get slaughtered”
The oil companies need only communicate the following to win the day:
“We had a deal, and the Alberta government broke it.
Just like Venezuela.
So we make another deal, and who says they can’t break it again?
We can no longer trust the government of Alberta.”
Pity. But where are the oil companies gonna go ?
Alberta isn’t the only play out there.
True, but look at the advantages; pipeline and rail connections with the biggest customer it could ever want. Same language, (for the most part) a common heritage, etc, etc.
You are correct of course and I’m hopeful they won’t kill the golden goose with this nonsense. However, oil companies don’t care where their product goes. If they can drill Azerbaijan and get an oil pipeline to Europe, that’s where they will go.
I fear the provincial government has learned negotiating techniques from the oil patch too well.
Maybe not as well as you think. The oil sands are a different can of worms. There are huge sunken costs associated with producing oil from tar sands and the cost benefit ratio won’t be good if the govt goes ahead with this plan. It’s far cheaper to operate elsewhere, Iraq for instance (in the near future).
I’ve never been north of Calgary but I’m familiar with development costs of the Fort McMurry projects. Iraq may have cheaper development costs but nobody’s shooting at you in Alberta...
Notice my qualifier. Besides, oil companies don’t mind the occasional incoming as long as the responsible govt is there to kick some teeth in. Granted Iraq isn’t there yet but the Kurds are.
We’ve had to deal with Devon Energy for several years now (since they took over Mitchell Energy). Devon is one company that will screw you out of your royalties in a heartbeat.
Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
You are right about Iraq. Looks bad now, but in 5 years? Rumor has it that the potential reserves under that country are more than the real reserves under the Gulf/in Iran. I believe this rumor because I heard the same about Mexico in 1960.
Sounds like the debate here in Alaska. Pols see the oil companies posting billions in profit (BTW, not all from AK) and they want a bigger piece of the action.
The oil companies are screaming mad, running ads every 5 min ont e radio & TV. Taxes are higher overseas, but the well placed bribe seems to take of that - and here at home as well, given the recent convictions of some of our state pols.
As pointed out eariler, the Eskimos are not bombing the rigs or kidnapping the workers as seen in Africa. There are costs, and then there are costs.
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