Comments by "Neolithic Transit Revolution" (@neolithictransitrevolution427) on "Pierre Poilievre’s problems with corporate Canada" video.
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@Willowgirl2015 well, 1, oil royalties are like a third of Alberta's Government revenue. It's nowhere near 70% of Alberta's GDP that's outlandish.
2) it wouldn't have to change over tomorrow. And anything can be negotiated. But yes I would expect the bulk of revenues to be put into a long term wealth fund owned by Alberta.
3) you might not want it said, but they would get oil out. Not just more oil, but also a higher price for all oil, and investment into more oil. That's more jobs, more government revenue, and more royalties.
4) Alberta would own the investment fund. It isn't giving anything way. It would choose what investments were made, which would give it an enormous amount of influence within Canada. All the profits generated would be Alberta's to reinvest domestically, internationally, or spend. The agreement would simply be that the royalties are invested in Canada. I'm not even saying it has to be invested based on where the pipeline goes. I'm not trying to cut out PEI. I'm saying we pull equalization payments if a province tries to block it. But in exchange for the Federal government using its power to get pipelines built, Alberta uses it's royalties to build up Canada.
5) Alberta wouldn't have to pay so much in equalization if those other provinces had a stronger economy. And the fact is, oil prices drive up the CAD, and that destroyed eastern Canada's manufacturing all through the 2000s. We have Dutch disease. We need to diversify our economy. Frankly, if all of Canada had more investment, the Federal government would be able to lower taxes on everyone, including Alberta, because there would be a much larger tax base.
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@wilfdarr well 1, it's crazy that Alberta gets a third of its government revenue from oil and then calls other provinces spoiled.
2, maybe people would be more appreciative of equalization payments if Alberta didn't spend all it's time complaining about paying it. I'm in Ontario, it received less than PEI last year, and nothing the 4 years before, so forgive me for not being appreciative of your generosity.
3, I'm trying to help you. Are you getting pipelines built right now? Even the US federal government under Trump blocked the last one. If you want to build pipelines, maybe consider making it worthwhile. Or, go on not getting pipelines. I'd rather the win-win. But frankly, high oil prices killed Ontario's Manufacturing, so it's no real skin off my back if you can't get it out of the ground.
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