Findog

Canada, a failed petro-state

In BC Polytricks, Polytricks on August 9, 2012 at 10:04 am

In comparison to Norway, Canada is a failed petro-state.  All you have to do is take a look at what Norway is getting in oil royalties. (70-80%) Compare that to the ridiculous 10% royalties Alberta gets. Not only that but the tar sands gunk is taxed at 6% until it ‘breaks-even’.. pffftttt!!.. Here is a link to the great series of articles on this scam in The Tyee.. http://thetyee.ca/News/2012/08/08/Norway-Oil-Commandments/

The article shows how Norway just summoned all the big oil corporations to a meeting and basically just announced that they would be raising the royalties from 50% to 90% (this was due to the Arab oil embargo of 1973.)  Sure the big oil companies threw a big hissy-fit at the meeting and threatened to leave Norway, (but of course they didn’t).  Only in Canada would we sell our oil for a 30% DISCOUNT to please US oil refineries at a time of record high oil prices.

Basically Canadian oil is being thrown away to the lowest bidder.  There is no pipeline to Eastern Canada, (where provinces pay foreign market rates for oil?!?).  All the pipelines go to the US refineries.  In the 70’s Canada had 40 oil refineries, now we have 19?  How is this for an idea, how about we build a pipeline to Ontario instead of to The Great Bear Rainforest?  How about we actually build refineries in Alberta to refine the tar sands gunk into real oil which we then can pipe to Eastern Canada?  How about using Canadian oil for Canada instead of selling bargain-basement oil to foreigners?  So there you have it .. our (mis)leadership is selling off our valuable non-renewable resources to the lowest bidder as fast as they can.  The corruption and gross incompetence is there for all to see but somehow the corporate media manages to miss the real story.. ;o)

Futile efforts to clean up oil spill left form Exxon Valdes

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