Richard Fantin · @RichardFantin
12th Feb 2015 from TwitLonger
#ableg #oilsands Alberta before this collapse in oil price was already running a deficit, global growth was largely stagnant and that can largely be attributed to the fact that $100 / barrel oil is too expensive for people to afford. What we refer to a "cheap" price today was actually extremely expensive just 10 years ago. Removing the highly unusual volatility of the last 10 years we are at the high-end of oil prices as is, and yet isn't even remotely close to enough to solve Alberta's revenue issue.
Alberta is on a downward spiral, oilsands development without unreasonable exponentially rising unsustainable prices in oil are completely unviable and not profitable what-so-ever if oil companies were paying their fair share of the damage and usage of services their growth incurs as well as if the government was fully funding the services and supports for an exploding population needed to operate the developments. Looking over the past few years and the propaganda levied at the population such as the "bitumen bubble", or splitting the budget into "capital" and "operational" spending you can clearly see a pattern of excuses for oil revenue that just isn't materializing at any price.
The purpose of the Alberta government isn't to govern the province of Alberta, their purpose is to manufacture the social license and beliefs in prosperity the population needs so public opinion allows the developments to steal our resources and leave unfixable, expensive, destruction in their wake.