Economic Update – Alberta – 2021-11

Alberta “invests” $131M into new emission reduction projects. The news outlets celebrate, the Alberta Government celebrates, but the conservationists keep quiet about this. No doubt any emission reduction is good. No doubt. Alberta invests $131M into new emission reduction projects (mymcmurray.com), Alberta invests $131 million in carbon capture projects in bid to cut emissions (yahoo.com).

Let’s be real clear about what is going on here. The Alberta Government using public money giving to private corporations $131M to mitigate emissions. Public money, private benefit in terms of the economy. It means that private corporations, who caused the emissions, don’t mitigate it from their own pocket, but from your and my money.

Alberta businesses (large and not so large) are being constantly subsidized by government. It is estimated to be around 5-6B dollars per year. (Government subsidies in Canada: A $684 billion price tag (fraserinstitute.org)).

The ideological spurn that surrounds the fact that governments don’t force private businesses to clean up their messes or consequences of their actions is widespread. The cozy relationship between politicians, government and private corporations on the back of the public is common in our time and our past.

The other news of the month is the federal aid for improving the childcare situation in Alberta (and country wide). To reduce the childcare cost for families to $10 per day per child will cost $3.8B. Many have said that this should have been done a long time ago. So why wasn’t it and why it is being done now? Why wasn’t it? Ideology. It was not a priority in Alberta. They have rather spent 6B to subsidize private businesses and not 3.8B that families would have required. Now that Trudeau set the priority, it will be done. But first Jason Kenney will take the credit again. Alberta premier snipes at Trudeau as province signs on to $10-day child-care deal (msn.com).

We could set our priorities; we could force the private oil and gas companies to mitigate emissions, they have the money. (Encana (ECA) reaffirms commitment to $1.25 billion share buyback in 2019 | Alternative (wantalternative.ca)).

Don’t be fooled.