June 21, 2017

Is Alberta the next Venezuela?

Sheila Gunn ReidRebel Host | The Gunn Show

Venezuela has dropped its oil production by half.  But this isn’t a win for green technology or environmentalism. It’s a failing of state socialism.

After decades of a nationalized oil industry, the country with the world's largest oil reserves is going to be importing one-third of its daily domestic oil usage...

Venezuela has spent decades scaring off foreign investment and jobs in their oilpatch through repeated asset seizures and court battles. This is has spurred a marked decline in all private sector employment- only about 27% of Venezuelans have a private sector job.  

Venezuela has run out of other people’s money. They don’t have enough capital to get their oil out of the ground and off to market for sale. To remedy this, Venezuela is importing about 200 thousands barrels of oil per day just to meet their domestic demands.

But this short-term fix won't last either, because, well, they have no money and they’re running out of credit, too. Venezuela is trying to negotiate away some of their debt owed to Russia so they can stave off the inevitable full collapse of their economy.

But this is what happens when business hating, economically illiterate socialists end up in charge of oil economies. Just look at Alberta. While Alberta may not be nationalizing the oil companies (quite yet), we are doing equally crazy socialist things like implementing carbon taxes, emissions caps, tax hikes and royalty reviews.

All these things serve the same purpose as seizing assets and nationalizing businesses. It scares investment dollars away, sometimes forever. Now the most oil-rich province in the country, once the crown jewel of Confederation, has a worse credit rating than Quebec and we can't pay our day to day bills either.

Rachel Notley is just like every other socialist.

She thinks she’ll be the one to get socialism right this time -without realizing that everyone who has tried socialism has done it right. The problem is socialism is wrong.

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commented 2017-06-24 04:05:26 -0400
Alberta’s and Ontario’s credit ratings just fell below Quebec’s.

A very telling observation of Prime Minister Justnotready’s handling of the economy.
commented 2017-06-22 08:36:37 -0400
Is this one more socialist utopian just not working out???
commented 2017-06-21 20:38:59 -0400
Socialism is only the excuse, the lie that the leftists buy, along with the phony climate change. Always look at the money. The islamic OPEC has eliminated a competitor and are now selling more of their oil. Same strategy is used in Alberta.
commented 2017-06-21 19:36:47 -0400
Is Alberta the next Venezuela?

That depends on the unity decision July 22. If the decision is no, then that means close to a decade or more of socialist thuggery. Since it only took 18 months for the socialists to turn Alberta into Ontario, a decade is more than enough to turn Alberta into Venezuela.
commented 2017-06-21 19:35:39 -0400
While Notley may be gone in a couple of years, Alberta will still be under the thumb of Trudeau and his Marxist doctrine until at least 2024 (after Scheer loses and hopefully a real conservative takes his place as leader). A conservative gov’t in Alberta will have a hard time climbing out of the socialist abyss with Trudeau constantly finding ways to continue destroying it.
commented 2017-06-21 19:04:32 -0400
I like this article , the lefties will not post here as they will not acknowledge reality of Venezuela.
commented 2017-06-21 19:03:53 -0400
Yep, if we give them enough time we will be.
commented 2017-06-21 19:00:56 -0400
Sheila thanks for calling a spade a spade, the NDP is a full member of Socialist International.
commented 2017-06-21 19:00:07 -0400
Tammie, you are right. She really does look like a hag. I guess she is morphing into the hag witch she is acting like.
commented 2017-06-21 18:56:01 -0400
“Is Alberta the next Venezuela?”

If we cannot get Notley the witch and her wrecking crew out of office in 2019, then yes.

(no insult to witches implied)
commented 2017-06-21 18:40:45 -0400
TAMMIE PUTINSKI-ZANDBELT commented 16 mins ago

Tammie, I bet if her Old Man ever makes love to her, he puts a Pillow Case over her head.
commented 2017-06-21 18:20:31 -0400
My goodness, that photo of Notley really depicts her as a hag, socialism not only rots the brain…it steals your looks too!
commented 2017-06-21 17:55:37 -0400

commented 2017-06-21 17:49:47 -0400
Margaret Thatcher said ‘the problem with socialism is sooner or later you run out of other peoples money to spend’