Alberta and Alaska both started oil production in 1976. Since then, Albertans have received one cheque for $400 from that oil. Alaskans insisted on a share of the oil income in 1982 and get about $1,000 dividends every year to a current total of $35,143 per person.
Alberta’s Heritage Trust Fund is at $17.2 billion. Alaska’s is at $51.2 billion. They made the commitment to save it until the oil runs out and not use it for general revenue at the whim of the governing party. Alaskan individuals pay no state tax.
Where did all the Alberta money go? Our schools and hospitals are no better than theirs. It recently came out that Alberta’s oil was valued at $40 when the world price was $80. It crossed the boarded at the $40 price which is convenient for the American oil companies who own most of the Alberta oil. We will not know where the Progressive Conservatives spent all the money until the government changes and Albertans have a chance to look at the books.
The fear is that Albertans can not run the oilfields if the American oil companies pull out. The first oilsands project was financed by selling shares to Albertans. We can do it again. We have technology and skills that are in demand all over the world. The American oil companies only came in when it was proven and when the then current PC government would give them massive subsidies.
Even now, the oil industry gets deals which are not available to other companies. I expect the PCs are filtering through the government records now making sure that when the NDP takes over and open the books to the people of Alberta we do not see what has gone on behind closed doors.
Alberta was started by strong individuals working co-operatively with each other. Only when the going got easy did the large international companies show up.
Albertans could run Alberta for the good of Albertans again.
Voting for a party that represents people and not large foreign companies should not be a bad thing. We now have a party interested in looking after individual Albertans in the NDP.
Wayne Rumohr
Red Deer