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Gold/Mining/Energy : Oil Sands and Related Stocks
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To: johnlw who wrote (18187)10/27/2007 11:29:28 AM
From: FreedomForAll  Read Replies (3) of 25575
 
Will the people of Alberta realize that new and higher taxes on oil production never result in a "fair share" for the people? The only people to see a "fair share" will be the politicians and bureaucrats. As long as the proceeds from those taxes go into government hands, the people will be lucky to see half of the benefit. That panel deserves to be boiled in bitumen for suggesting such a half-baked solution.

The government has done little to facilitate the development of the oilsands. All the investment and ingenuity has come from the individuals in the petroleum industry. Without that investment and ingenuity the oilsands would have no additional benefit to any Albertan. Albertans have benefitted from investment by oil companies in jobs created by that investment.

Do the people ever think about what these government actions are? If people allow their government to change contracts with individuals or companies at any time for any reason, is that government different from the Chavez regime in anything but degree?

Unilaterally changing an agreement by one of the parties to the agreement without the consent of the other party is a criminal act. If any individual Albertan tried to do such a thing they would be punished in a court of law and rightfully so.

This is nothing more than demonization of the oil industry by bureaucrats and theft for political reasons. The panel and the politicians involved don't care a bit about the people of Alberta except to want to buy their votes.

If development of the oilsands creates a need for greater infrastructure to support that development then Albertans should be negotiating for those specific needs. Raising taxes and handing the funds to bureaucrats will result in less oilsands production (and lower revenues for Albertans), wasted money, and very expensive, inferior facilities for Albertans.
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