Canadian engineering giant SNC Lavalin is selling its entire stake in AltaLink to Warren Buffett’s U.S. company Berkshire Hathaway. The deal is worth $3.2 billion!
AltaLink is delivering electricity to 85 per cent of Albertans and owns more than half of Alberta transmission lines.
The recent infrastructure upgrades to AltaLink were paid with Alberta taxpayers’ money. Ratepayers are paying for assets belonging possibly soon to Warren Buffett.
If this sale goes through, Albertans will lose further control of our precious resources, control over critical infrastructure, control over regulations of essential services and over how much electricity is transported to the U.S.
AltaLink’s assets are around $6 billion, Warren Buffett’s company would get it for just over $3 billion. That’s a huge gain to the expense of Albertan ratepayers.
None of the Alberta or Canadian resources should be sold to foreign countries. CBC Radio reported recently about large holdings and pending sales of Alberta resources by Asian companies that are not revealed to Albertans. Just as the disputed temporary foreign worker program is again discussed behind closed doors between Alberta government and business leaders.
Why is this done in secret? To avoid public outcry.
Is our government acting in the interest of Canadians or the interest of big business?
If you don’t want your resources foreign owned, under foreign control of price, and you worry about how much we get to keep, how much our children and future generations will have in Canada for their use, you must speak up, make your voice heard.
Write, call or email to your MLA or the federal minister of Industry at email@example.com, or to the Alberta Utilities commission at firstname.lastname@example.org (submission deadline July 23, 2014).