Oil&gas is afraid. Is defending itself.
I really wish we weren’t spending 30 billion a year in subsidies for it though
Change is scary to people. Especially in an environment when every other sector is contracting in this province. We wouldn’t even be viable as a territory without our primary export. Alberta is not a self-sustaining economic zone, we exist because of exports and we can’t seem to attract investment of any kind outside of oil projects. Our agricultural product is a fraction of our oil revenue, and all our other mineral wealth is under-developed. Alberta doesn’t have the wealth internally to fund any of our own infrastructure. The vast majority of the wealth from our resources end up in foreign hands, and we’re only allowed enough of a share to maintain existing standards.
Now, would it make more sense to use part of that 30 billion to build up other industries? Sure. But then we’re gambling on unproven markets and supply chains, and at the end of the day, we (collectively as a province) are cowards. Yeah, you heard that right, Convoy Albertans are obnoxious barking dogs who are trying to look threatening while pissing themselves in sheer terror that we might end up losing everything. They’re not “aggressive”, they’re staring at an apocalypse as big to them as AI is to white collar workers. The rest of Canada won’t help us when we go down. It’s not useful to argue about whose fault that is, so lets leave it at “there’s blame to go around.” The corporate owners in the US aren’t going to lift a finger to help us either, in spite of what many of my fellow Albertans think.
So we bet on what we know used to work, and hope this is temporary despite all evidence our province is a “Dead Man Walking.” If we we had any kind of backstop at all we might shift our priorities instead of doubling down on an industry that’s slowly killing us, but Bay Street has always seen us as a resource colony with one resource and there’s nothing to suggest that is ever going to change. A lot of ink has been spilled pointing out Alberta without Canada is basically a dead end, and they’re right. No one is willing to confront the fact that Alberta WITH Canada is also a dead end. Desperate people make bad choices.
Edit: Grammar
Its very unfortunate that this outcome was foreseen, there was an opportunity in the 80s for the crearion of sovereign fund. Yes change is scary, and that’s the reason we’re all in this together that’s why we need to support Canadians, not the o&g industry
Wistfully wishing we’d heeded good sense 50 years ago doesn’t change the present. Supporting Canadians is a very nice sentiment, but for the 5 million or so Albertans (or at least the 3.5 million who aren’t absolute lunatics) it’s as hollow as “thoughts and prayers.” What “just energy transition” options are there, when we already sold off our only state oil company 25 years ago? Where’s the copper and lithium projects, the domestic manufacturing jobs, the public works infrastructure to make living and working outside the St. Lawrence corridor viable in this country? Where are the geothermal plants that make use of our skills and tools for drilling to replace dirty oil, coal and gas plants? Why are all our investment dollars in foreign tax havens instead of building a Canada worth living in?
I am so sick and tired of the UCP and the CCP. I’m tired of this country bending over backward for foreign oil. At the same time, you can’t feed a family on sentiment.
Wistfully wishing we’d heeded good sense 50 years ago doesn’t change the present
No of course it doesn’t.
Supporting Canadians is a very nice sentiment, but for the 5 million or so Albertans (or at least the 3.5 million who aren’t absolute lunatics) it’s as hollow as “thoughts and prayers.”
It doesn’t have to be, the money spent on o&g should be spent in areas like that.
What “just energy transition” options are there, when we already sold off our only state oil company 25 years ago?
Nationalise it
Where’s the copper and lithium projects, the domestic manufacturing jobs, the public works infrastructure to make living and working outside the St. Lawrence corridor viable in this country?
See the 30 billion$
Where are the geothermal plants that make use of our skills and tools for drilling to replace dirty oil, coal and gas plants? Why are all our investment dollars in foreign tax havens instead of building a Canada worth living in?
Again the o&g money should be spent on things like this.
I am so sick and tired of the UCP and the CCP. I’m tired of this country bending over backward for foreign oil. At the same time, you can’t feed a family on sentiment.
Exactly, fuck the upc and the ccp. We need to divest in oil, its hard now with littler prospects, it will be so much harder when all that O&G money dries up.
There’s usually no good reason to remove a panel for 60 years. A modern panel will still output over 60% of its original capacity. Oil wells which are not required a “cleanup deposit” generally run “economically dry” after 15 years. Cleanup liabilities are much more serious in O&G sector, and a big budget problem in Alberta.
While solar is highly recyclable, dumping them in a land fill is fine if they are not from First Solar.
