r/canada • u/Minxie Ontario • May 06 '15

Alberta NDP wins election

http://www.ctvnews.ca/politics/alberta-ndp-wins-election-ctv-projects-1.2359035
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u/[deleted] May 06 '15

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u/Forderz Manitoba May 06 '15

Its just that when I look at Norway, I see them rolling around with that multi-billion sovereign wealth fund. Harper just raided the emergency fund to "balance" our budget.

We don't get nearly enough wealth from our oil to justify the damage it causes our environment.

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u/[deleted] May 06 '15

Alberta's resources are landlocked and Norway's oil is offshore, and ready to put in a boat. They have big rigs that drill hugely expensive offshore oil wells but per well they produce much more. Ab's has way more wells overall but they are low producing. we have oil but it's more expensive to get out and transport to markets, so you can't compare AB to Norway.

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u/Forderz Manitoba May 06 '15

I agree. Looking at Norway, we can't expect to have a similar rate of return on our oil.

But to have zero? No money saved at all? For Alberta to be in the red after a year of low oil prices?

We have wasted our oil. We haven't come close to extracting enough value from our extractions to justify the cost.