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Canada Moves Right / Battered Oil Industry Wants Socialists Out

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  • Reynolds
    Moderator
    • Oct 2018
    • 3287

    Canada Moves Right / Battered Oil Industry Wants Socialists Out

    Canada’s battered oil industry cheering for Alberta’s opposition party in upcoming election



    The interesting thing about this is that these are not just traditional right parties - the UCP is a new party, as was the coalition right party which now governs Quebec. It's not like voting for the UK's Whigs or Tories, republican or democrat take-your-pick choices in the U.S. The socialist NDP has raised taxes, spent revenues on foreigners, and shown it's incompetence in managing resources. The "money fleeing" the province is a misnomer. No one wants to invest in a centralized economy with bureaucrats telling them how to run their business.

    Canada’s battered oil industry is rooting for the opposition in next month’s election in energy heartland Alberta, investors said on Wednesday, but a brewing scandal involving the party’s leader could derail its hopes of an easy victory. Alberta contains Canada’s vast oil sands, home to the world’s third-largest crude reserves.

    Alberta Premier Rachel Notley’s left-leaning New Democratic Party (NDP) came to power in a shock victory in traditionally conservative Alberta in 2015 in the midst of a global oil price collapse that slashed energy company revenues. But critics say Notley’s government exacerbated the crisis by raising corporate taxes, launching a review of royalty rates and introducing a carbon tax at a time when firms were already struggling.

    Kenney casts himself as a far more forceful oil industry advocate. Appealing to some Albertans’ sense of western alienation from national politicians in Ottawa, he vows to “stand up to Justin Trudeau and those attacking Alberta.” Read more ...


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