Betrayal of public trust.
In his recent annual report, Auditor General Fred Dunn asked why Alberta was selling its non-renewable petroleum resources at a low royalty rate.
“What is the support for Alberta to receive less for a similar commodity than other jurisdictions?" he asked. "There's good evidence going back to 2004 that the royalty regime was very low. What was needed, really, was just leadership."
He went further to state: "The principles of transparency and accountability, I believe, were not followed. I'm not impressed."
To add insult to injury, Alberta's Heritage Fund, created in 1976 by then-premier Peter Lougheed, was essentially capped years ago with assets of just $16 billion. By contrast, Norway's 17-year-old Petroleum Fund will have amassed assets of $522 billion by 2009.
Due to lack of planning and gross mismanagement by the PC government, future generations of Albertans will be left without a financial nest egg from non-renewable resources.
Billions of non-renewable resource dollars have slipped through the hands of the PC government and disappeared forever. Our government lied to authorities and cooked the books. Albertans have every reason to be outraged by this betrayal of public trust.
How is it that a province known around the world as an energy giant has operated for years without a plan?
The days of governing this great province without a plan must end NOW.
Why Alberta Liberal policy gets a better grade:
Alberta’s energy revenues are based on shrinking oil and gas reserves. There’s also a real possibility new energy technologies will deliver us into a post-carbon era sooner than we think.
A smart government would look ahead and prepare for the future, investing today’s wealth in tomorrow’s prosperity.
Imagine a provincial savings account that generates enough income to ensure Albertans always pay the lowest taxes in the country. Imagine building the best trade schools, universities, and colleges in Canada with a space for every qualified student. Imagine a savings account solid enough to maintain Alberta’s prosperity even after our oil and gas supplies run out.
The time for drifting without a plan is over. Alberta’s opportunity to build a strong future is now, and there’s no time to lose.
Solutions: Read more...
