Rachel Notley has introduced Bill 12 in the Legislature.
The bill nationalizes Alberta’s oil industry.
It doesn’t confiscate the shares of oil companies. That’s how nationalization works in OPEC dictatorships like Venezuela, or in Russia. Sometimes the companies in question get a token payment. Sometimes not.
Whereas in Notley’s bill, the companies still get to technically own their own companies and property.
No, the companies now just have to do exactly what Notley says to do.
Lest you think I exaggerate, tonight I'll go through Bill 12 line by line.
For instance, this bill will ban oil and gas exports if "Alberta’s own future needs" aren’t taken care of. The oilsands have more than 170 billion barrels of oil in them. That’s more than almost any other whole country in the world.
And I actually think that Rachel Notley has no idea. Imagine actually arguing that you’re putting export licences on oil because Alberta might run out.
Imagine being so stupid.
This bill establishes something like the Wheat Board — but for oil. It’s illegal for Albertans sell their own oil now. And illegal only for Albertans to do so.
It's setting up a centrally planned economy, run by a government made up of public sector union bosses and student activists, perhaps the least qualified government ever to sit in a Canadian legislature...
NEXT: Marc Morano of Climate Depot joins me to talk about Al Gore's "flip flop" on coal.
THEN: Joseph Humire, Executive Director of Secure Free Society, comes on to update us on the situation in Venezuela.