Re. April 21 editorial by Lee Giles, headlined Stelmach just like Getty:
Don Getty is a lot brighter than Premier Ed Stelmach.
Stelmach is like a lost sheep being led by his cabinet ministers and they, too, are lost sheep.
Truly, what has Stelmach done correctly?
He drove the oilpatch out of Alberta by increasing and tinkering with oil and gas royalties.
Also, Alberta’s credibility has been tarnished because of forcing increases in existing long-term legal royalty agreements.
I am certain this is going to affect future foreign investments.
Health-care services in Alberta are not improving and, in fact, reports indicate they are getting worse.
The finance minister has failed by predicting huge surpluses, only to wind up with a huge deficit.
For example, the finance minister predicted an $8.5-billion surplus less than nine months ago, that now turns out to be a $4.7-billion deficit (or $6.7 billion if cuts are not made or if income does not increase).
Last year, Stelmach approved huge salary increases for himself and for his cabinet ministers and this year huge bonuses for his executive government officers. I am not aware of any signs of excellence from these people.
Now, the premier is approving investments of pension fund monies in speculative and risky oilpatch ventures.
Had theses types of investments had been into EnCana or Imperial Oil, I would have no objection.
Alberta Heritage Fund has lost $2.5 billion and ATB Financial has lost millions of dollars by investing in ABCP. The Public Service Pension Plan has lost money as well.
Someone else must take over the reigns of power from Stelmach because this type of mismanagement cannot be allowed to continue.
Alberta is heading into serious financial trouble and there must be a stop put to it.