NDP Minority Govt in Alberta

[ZRrrr]

Can you hear that.....it's the hum of paper shredders and clicking of delete keys all over the legislature.

I'm happy with the way this turned out and that includes the WR as being official opposition. I believe both parties do indeed have the best interests of Albertan's in mind and I think they will work well together. None of either side is currently in the back pocket of a corporate sponsor, so we truly have a clean slate. Both parties want to change the electoral rules in Alberta to bring back real democracy.....number one is take out corporate donations to political parties. That should help even the playing field.

I also like that numerous PC trough feeders and their open handed friends are long gone. Should save millions right there.

Hoping for a forensic audit of the books so we can all have a real good look at what's been going. At the very lieast I think we will start to find out some very interesting facts over the next year.

Alberta is well known for this type of voting. We have decimated parties before, which has lead to the rise of new and exciting parties. That's a good thing! I think parties like the Alberta Party will only grow and we will have three very interesting choices in the future.

This NDP party is more center left than any other. Much of thier policy is based on Lougheed's politics and that's a good thing! Rachel did a great job of ensuring business leaders, the resource industry, the federal government, that shes willing to work together. Good start. They have four years to show us what they can do..........and just maybe it will be a better Alberta than it has been.

Boogey man isn't under the bed, sky isn't falling, hell hasn't frozen over (it's just a snow storm). Interesting days ahead. Change can be good and usually is.

 

[ZRrrr]

Read it was only 56% voter turnout. WTF! Was hoping for more. Best we've had in AB is 60%. Pathetic.

 

[ZRrrr]

Anyone know how to file threads for future reference? I would like to file this and the other political thread and bring it back every year over the next four.

 

[Bnorth]

I don't think AB is as fawked as you're fearing. The PC government was like the current BC liberals, way too comfortable and corrupt. The only ones getting ahead are them and their cronies so at the very least this is a reset and will set that cycle back to square one. As far as unions and public employees the ones in AB already have it about as good as it gets, your teachers earn more than many other provinces and the uselessness, laziness, and over payed unskilled workers in O&G can't get much worse plus the safety BS is already way over the top. This might be an opportunity to grow the middle class a little instead of shrinking it and growing the gap between the 1%'ers and the poor. A little more corporate tax won't shut down the economy and they can't possibly be stupid enough to tax them to the moon (or can they?) as they know it will just be cutting their own throats.

 

[Stompin Tom]

The change will be slow and gradual, but after the 3rd budget you will look at your bank account and wonder where all the money went. When you drive down the road you will wonder why there are so many pot holes, when you drive past the industrial parks you will wonder where all the traffic is.

 

[ZRrrr]

This was already happening over the last year so at least you already know what to expect. That should offer some comfort.

The change will be slow and gradual, but after the 3rd budget you will look at your bank account and wonder where all the money went. When you drive down the road you will wonder why there are so many pot holes, when you drive past the industrial parks you will wonder where all the traffic is.

 

[teeroy]

The change will be slow and gradual, but after the 3rd budget you will look at your bank account and wonder where all the money went. When you drive down the road you will wonder why there are so many pot holes, when you drive past the industrial parks you will wonder where all the traffic is.

we're not BC, Ontario, Manitoba, or Saskatchewan. this gov't will be more open to listening to the constituents than the PC party ever was.

I didn't vote for them, but I welcome the change.

 

[j335]

The next 4 years will be complete disorganization from an extremely unorganized NDP team (students, union leaders, safeway workers), so I don't think anything major changes will even happen like they promised, which is probably a good thing. One thing is certain however, there is a guarantee of more job losses in the energy sector due to less capital investment and all this will happen even if the NDP don't do anything. Political uncertainty is a large risk in any major investment and oil companies take this very serious is project selection stages. Good luck everyone and enjoy the ride!

 

[Summitric]

I'm hesitant about what has happened.... Best scenario would have been a minority government of some type.... Every ndp provincial government has increased taxes and brought in pst and some even hst. Here's to hoping the notley crue can getrdone, without too much disruption. Think i'm gonna look for a union job, though....

 

[X-Treme]

Holy fawk guys!! We sure have alot of back seat politicians on here. Give the girl a chance. She hasn't even taken her position yet and the world is about to end. You people are ridiculous. We were fawked no matter who we voted for. Let's see how it plays out before we all go committing suicide or moving to another province!!

 

[sledneck_03]

wow, if they turn alberta into what Sask use to be when they were in power you guys are f8ckeddddddd.

 

[Stompin Tom]

we're not BC, Ontario, Manitoba, or Saskatchewan. this gov't will be more open to listening to the constituents than the PC party ever was.

I didn't vote for them, but I welcome the change.

and that is what everyone in BC, Ontario, Manitoba and Saskatchewan said the day after the NDP elections.
No doubt they will be "more open to listening" the problem is their idealism does not mix well with industry and we all know where that leads. The next year will be the honeymoon, after that ............

 

[teeroy]

Holy fawk guys!! We sure have alot of back seat politicians on here. Give the girl a chance. She hasn't even taken her position yet and the world is about to end. You people are ridiculous. We were fawked no matter who we voted for. Let's see how it plays out before we all go committing suicide or moving to another province!!

lol...facebook politicians

 

[teeroy]

and that is what everyone in BC, Ontario, Manitoba and Saskatchewan said the day after the NDP elections.
No doubt they will be "more open to listening" the problem is their idealism does not mix well with industry and we all know where that leads. The next year will be the honeymoon, after that ............

just like every other political party eager to remain in power, their policies will change to ensure they stay the governing party in the richest province in Canada.

 

[Summitric]

Canada’s main stock index fell on Wednesday for the second straight session as hefty losses among energy companies following an unprecedented election outcome in Alberta province pushed the market to its lowest level in more than a month.
The left-wing New Democratic Party beat the Progressive Conservatives in a crushing victory that ended the centre-right party’s 44-year hold on power in the Western Canadian, oil-producing province.
John Zechner, Chairman & Chief Investment Officer at J Zechner Associates joins BNN's The Street for Bay Street reaction to Alberta's provincial elections. BNN Video [h=6]Video[/h][h=5][/h]
Tar Island facility located at the Athabaska Oil Sands north of Fort McMurray, Ab. Aug. 31/2010. The Globe and Mail [h=6]WATCH[/h][h=5][/h]
[h=6]Video[/h][h=5][/h]
“Putting aside ideology issues, the most significant issue facing the NDP looks to be a lack of governing experience,” Credit Suisse analyst Andrew Kuske said in a client note.
Analysts have said the win could hurt energy stocks, at least temporarily, citing potential issues including policy changes that could hurt production levels.
“Policies that crimp growth in oil and gas production would likely impact demand for new infrastructure, and hence, future growth for the stocks with operations in the province,” Robert Kwan, an analyst with RBC Dominion Securities wrote in a note.
“Despite unknowns as to how this will play out, we suspect that most stocks with material Alberta operations would initially underperform,” he wrote, saying that power producers and pipeline companies would be among those coming under the most pressure.
Energy stocks, which make up some 22 per cent of the TSX’s weight, plunged 3.2 per cent on a day which saw crude prices surge to 2015 highs, typically a positive driver for the sector.
The top three most influential decliners on the index were Enbridge Inc, which fell 3.03 per cent to $60.84; Suncor Energy Inc, which tumbled 3.7 per cent to $36.92; and Canadian Natural Resources, which sank 4.14 per cent to $37.99.
The Toronto Stock Exchange’s S&P/TSX composite index fell 169.7 points, or 1.12 per cent, to 15,004.24.
Nine of the index’s 10 main groups were in the red, with declining issues outnumbering advancing ones by 220 to 24, for a 9.17-to-1 ratio on the downside.
Other heavy losers included the materials group, which fell 1.8 per cent, hurt in part by lower metal prices.
Financial shares, another big index mover, were down 1 per cent, with Royal Bank of Canada falling 0.7 per cent to $79.95.
Telecoms were the lone gainers, rising 0.9 per cent. Rogers Communications Inc led with a 3.6-per-cent jump to $43.67, followed by Telus Corp, which was up 1.7 per cent, at $41.54.
U.S. stocks turned negative on Wednesday, after opening slightly higher, as disappointing data, including weaker-than-expected private jobs numbers, fueled concerns about the economy’s potential to rebound from a first-quarter slump.
Stock markets globally have also been under pressure as the worldwide sell-off in government bonds deepened, spreading unease across all assets.
ADP payroll data showed U.S. private employers added 169,000 jobs last month, the fewest since January 2014 and far below economists’ expectations, posing a downside risk for the more comprehensive nonfarm payrolls report.
“This is certainly going to change expectations for Friday’s numbers,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
“Some people think that the Fed will now delay raising rates.”
Adding to the weak jobs data, applications for U.S. home mortgages fell last week as interest rates jumped, while nonfarm productivity fell in the first quarter as harsh winter weather weighed on output.
The Dow Jones industrial average was down 31.9 points, or 0.18 per cent, at 17,896.3, the S&P 500 was down 2.41 points, or 0.12 per cent, at 2,087.05 and the Nasdaq Composite was down 6.59 points, or 0.13 per cent, at 4,932.73.
Nine of the 10 S&P sectors were lower, with only the energy index gaining 0.6 per cent as oil prices hit fresh 2015 highs.
Tech stocks, led by Apple and Microsoft, were the biggest drag on the three major indices.
The weak data and bond markets also overshadowed strong results from corporates and a mini revival in dealmaking.
MoneyGram soared 23.08 per cent to $9.60 after Bloomberg reported that Western Union was considering buying its smaller rival. Western Union rose as much as 9 percent to a record high of $22.84.
Oil prices rose to 2015 highs on Wednesday, as a month-long rally gained further impetus from the first fall in U.S. crude stocks since the beginning of January.
Brent crude was up $1.60 to $69.12 a barrel, after hitting a 2015 peak of $69.63.
U.S. crude traded $1.54 higher at $61.89 a barrel, near an intraday high of $62.58.
“Bulls are in control of the market,” said Tamas Varga and Stephen Brennock, analysts at London brokerage PVM Oil Associates, in a note on Wednesday.
The U.S. government’s Energy Information Administration said crude stocks fell 3.88 million barrels to 487.03 million barrels, the first stock draw since the beginning of January and more than double the 1.5 million barrel draw reported by the American Petroleum Institute on Tuesday.
Stocks at the key delivery point of Cushing, Okla., fell for a second straight week by 12,000 barrels to 61.67 million barrels, easing fears of storage hitting tank tops.
“It’s a big bullish crude draw,” said Dominick Chirichella, senior partner at the Energy Management Institute in New York.
“Lower imports seem to be the main driver for the draw down,” he said.
Oil prices also had support from the dollar, which fell by more than a percent against a basket of currencies, on course for a fourth straight weekly loss.

 

[Summitric]

This was expected... The turnaround will hopefully be a quick one

 

[ZRrrr]

Securities laws require oil companies to file first quarter earnings results in mid to late April. These results must include a discussion about the “boilerplate” risks identified in the foreseeable future.

A quick look at the boilerplate; covers every risk including changes to royalty regimes, tax laws, computer hackers, terrorist attacks……

Not one energy company, not even Cenovus, updated its boilerplate risk language to address this royalty regime, tax law “threat” to their bottom line.

 

[j335]

Securities laws require oil companies to file first quarter earnings results in mid to late April. These results must include a discussion about the “boilerplate” risks identified in the foreseeable future.

A quick look at the boilerplate; covers every risk including changes to royalty regimes, tax laws, computer hackers, terrorist attacks……

Not one energy company, not even Cenovus, updated its boilerplate risk language to address this royalty regime, tax law “threat” to their bottom line.

You really think its a smart move to put speculation over an election into a companies Q1 results? They sure wouldn't look too smart if PC or WC won would they? I'm just telling you how projects are selected and political uncertainty is a big one and you will see it in their Q2 results. Right now all we know is that corporate tax is going up 20%, royalty regime is gonna change, an unexperienced party is running the show and Alberta oil investment has already been shaky in the last few years. Common sense starts to kick in, hmm, why would I invest in Alberta with all that risk? Just telling you how it works in real life in the corporate world where the decisions are made... But in all reality NDP probably won't do much at all, they're gonna take it pretty slow.

 

[Summitric]

I HOPE THIS ISN'T THE BEGINNING OF SOMETHING:


The results are in on Alberta’s election and it’s official, Hell has finally frozen over and the province has elected an NDP government. As expected, NDP voters are overjoyed, so much that they’ve ignored one of their most beloved issues- the first-past-the-post system has resulted in the NDP winning with less than 50% of the vote.
Curiously, less than two hours after the election closed, the Alberta NDP has now erased all of it’s candidate profiles from their website. What does this mean? One person speculated on Twitter that “Scrubbing their website on elxn night suggests they will revise their platform in light of a huge victory”.
One thing we can deduct from this weasel-like action for certain is that the Alberta NDP have a poor understanding of how the Internet works- you can’t just delete a webpage and expect it will be gone forever, there’s a wonderful site called Archive.org that’s backed-up many of the Internet’s more popular websites, the Alberta NDP’s is one of them.
So, what are the Alberta NDP trying to hide? The first step to figuring this out is to check-out the archive pages. I’ve listed them all below- please let me know if there’s anybody I missed. The first thing they deleted was their platform! If you’re curious why, here’s the archive:
https://web.archive.org/web/20150423162547/http://www.albertandp.ca/platform

 

[Skegmeister]

A change was required. Yes, the PC run had it ups and downs. $17Bln in Heritage Trust Fund is the only one of its kind in Canada and it was done under the Tories run.
The swing of the pendulum from extreme right to the extreme left leaves the keys to the vault to the NDP.
All the programs, funding of services and increase in of government influence cost lots of cash. If... the economy and industry keeps the down turn in play because of the low oil price and in response to a NDP majority government, the only place to get money to pay for the promises will be the Heritage Trust Fund.
History has shown that NDP does spend money, lots of it, but it does not put money back into the bank. In fact Notley's budget ran a bigger deficit than Prentice's, just spent in different places.
$15/hour does not move families above the poverty line, lots of research shows that. But it will cost $10 for a Big Mac and a beer will cost $15 and there will not be anymore 20 - 25% tips for the hard working serving staff either.