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Calgary--The Details: Alberta's Economy will shrink the most!

Thursday, March 12, 2009

Alberta's Economy will shrink the most!

Alberta has been grossly mismanaged. Rather than invest windfall royalty back into this province this Government has elected to plough the profits back into reduced royalty rates.

At 19% Canadian, the rates are the lowest in the world but because of the nature of stock very little of this money come back to the province.

Alberta's conventional oil is now a "mature" resource. Deep wells and directional drilling are expensive. Using captured carbon to access deep well reserves is a good plan but will take years to get on line.

Now in recession with a Government that has only experience in mega surplus non budget performance, we see the fruits of our labours. I don't think this crew could manage a lemonade stand!