Alberta’s bold leader lands in Houston, Texas, today. Premier Jason Kenney is not wasting another day dithering with Ottawa while it vampirically drains its lifeforce.
The most eggregious act against Alberta is theft by equalization payments that have resulted in a $4 billion surplus to Quebec–a province that buys most of its oil from OPEC, a foreign cartel that sets prices that harms not only the oil industry but every product sold, every service delivered and every Canadian’s pocketbook.
“Alberta is open for business,” is the message. And the offering is good.
- Reducing the corporate tax rate and cutting red tape from government processes.
- Introducing enhanced capital cost allowances.
- Providing certainty to the oil and gas royalty structure.
- Confirming its $1.1-billion commitment to the Petrochemicals Diversification Program.
The Red Tape Reduction Implementation Act just announced features 300 initiatives with 70 to be ready for decisions before year’s end. Red tape reduction across government, combined with streamlined process and consolidating administrative services, is expected to save at least $140 million.
This should stem the bleeding of the oil industry to Texas. It started under Trudeau 1 and now hemorrhages under Trudeau 2.
Already, 4,000 public submissions have been received.
Canadians are watching Kenney closely. Albertans are putting their trust in him.
“You can’t make an omelette without breaking eggs,” a bad guy named Stalin said. It’s a fitting metaphor for the task at hand. It’s time.
Kenney is meeting with business leaders, oil producers and petrochemical, and, investors and fund managers. He arrives in Dallas on the 21st and returns home the same day. We await a full report.
I can hear oil stocks bumping on the news.