We loose on 3 fronts.
1. royalty not collected
2.taxes not collected on income properly due the domestic producers.
3. the loss to our economy as lost disposable incomes suffered by all concerned.
Oil is sold to the parent companies in the US at 75% of the market price. Shorting the value of the oil crossing the border gives the oil companies an automatic 25% more profit into their accounts at Alberta Taxpayers expense. Note also, this is 25% of the earnings we do not collect taxes on as promised by the Cons. This has been going on for years and in the press throughout.
The Conservatives cannot argue against the fact they are giving taxpayer dollars directly to the oil regime! These billions going south every day means that oil pays no taxes on them on either side of the border.
Recent figures of 1.037 million barrels per day in conventional oil produced more than triples the figures published here moving them up by 3 time! That puts the losses to this province up over 8 billion dollars a year Report on 1 million bbls per day production now.
Valued at 100.00 US per barrel is $6,140,000 USD per day we are being shorted. Extended that is 2.242 Billion dollars per year ripped from Alberta economy!
That is $76,800,000 US dollars per day (5 billion dollars a year!) will be pulled out of the Alberta economy of which if we continue with Conservative type Governments! Alberta will be loosing taxes on that amount being about 15,360,000 dollars US.
In the course of their improvements tar sands companies have built a huge capacity for the generation of electricity surplus to their needs; available for sale to the US or the Alberta energy market. They want Alberta Taxpayers to pay for these lines. That is the push on power lines.
We are totally exploited in our electrical power. Every summer without fail the power companies advance our power bills simply sighting "hot weather". Just as regular California runs out of electrical power and we export to California to meet these summer demands. Our prices go up, not because of use but to ramp up the prices our companies can charge selling in California. This is all part of the indirect taxation scheme so firmly in place.
The Political Parties
I will cover that in a new post. Cut and paste link into your browser: