What a chorus of laments we are hearing from government about the sudden drop in oil prices?
Premier Jim Prentice leads the pack announcing, “It’s the most serious fiscal circumstance we’ve seen in a generation in this province.”
And what strategies do the government have in place to see us through this crisis?
Do we have a savings fund like they have in Norway?
No, our government gave away most of Alberta’s oil revenue to wealthy corporations and squandered a whole lot more on excessive expenses.
Have we at least invested some of the money to create and sustain other industries like they have in Norway?
No, there hasn’t been any mention of diversification since Peter Lougheed was premier.
After all, making sure that you don’t put all of your economic eggs into one basket does require some forethought and planning is something our government doesn’t seem to understand at all.
Suddenly, in a matter of weeks, we residents of the Promised Land have gone from sunny predictions of huge surpluses to the alarming news that the government faces significant deficits.
All because the price of oil fell farther than “anyone” expected.
Who would have expected oil to go so low?
Oil prices go up and down, driven all kinds of economic factors.
In fact, they’re extremely volatile.
Goodness me, who knew?
Well, everyone it seems except the politicians in the government of Alberta.
I find it really annoying that the government has squandered yet another oil boom and now look to the taxpayers to subsidize their inept management strategies.
Still we can’t blame the government completely can we?
Albertans have turned a blind eye and have elected the Progressive Conservatives into power for over 40 years now.
We have no one to blame but ourselves.
There is going to be a provincial election in the coming year.
Don’t you think it’s time to elect a party that have a good understanding of economic principles and will do a better job of managing our affairs?
Sharon Harding
Athabasca
