More Taxpayer subsidies to the Oil patch!

[newguy]

You must be a busy guy, calling out all of the bad governance coming from the current federal coalition.
As a guy who votes many different ways, and calls out bad government, you are awfully quiet about the current federal situation.

Federal government needs a political correction also.And would have had one long ago if the core group never chased away theikes of Kevin Oleary.Consevativeswith O Toole moved left and the core conservatives gave him the boot .Now they have moved to a Trump style leader .

[newguy]

True enough but ndp of past held a lock on power scaring all the old buggers about Devine and what not. Not saying ndp didn’t get fiscally prudent to fix the past spending sprees but they didn’t build on anything. Nothing happened until they were voted out. You’d be living under a rock in butt f Saskatchewan if you didn’t see that.

A correction is about priority change.Yes the NDP needed to go back then for change in Sask. Now a priority change is needed back again.It is just the way to keep governments healthy .History shows this hs been happening in Canada and the USA for a long long time.History shows if you are angry when a different party is in power than what you want you will be angry half your life.

[furrowtickler]

If NDP get back in Sask hopefully 80% of our young working people don’t leave again like the lost decade of the NDP of the past .
maybe this time be different, who knows nowadays

[chuckChuck]

Curly Moe and the Sask party are in the pockets of the resource sector. They have done a terrible job on Potash royalties as well.

When Potash hit very high prices during the recent commodity boom, the province collected only a small proportion of royalties even though potash revenues and profits went through the roof.

[url]https://www.schoolofpublicpolicy.sk.ca/research-ideas/publications-and-policy-insight/policy-brief/saskatchewan-forgone-potash-windfall.php[/url]

Saskatchewan’s Forgone Potash Windfall: Collecting a Fair Public Return

"The price of potash doubled in 2022, adding $10 billion to the value of Saskatchewan's pink gold. But the provincial government collected only a quarter of this windfall. This policy paper highlights the need to improve royalties and taxes to ensure a fair return for the people of Saskatchewan."

Saskatchewan has one-third of the world’s potash. This fertilizer’s price doubled in 2022, creating windfall profits of $10 billion.

Although the Potash Corporation of Saskatchewan (PCS) was privatized in 1989,¹ the potash itself – like any other mineral – still belongs to the province. For more than a decade, economists including yours truly,² Jack Mintz,³ Jack Warnock,⁴ John Burton,⁵ and Jim Marshall⁶ pointed out that flawed royalties and taxes under successive governments have failed to capture the value of this resource.

Last year’s windfall highlights the need to collect a fair return for the people of Saskatchewan, who own the resource, from the mining companies that extract it. Although potash prices moderated this year, the value sold in 2023 already exceeds 2021 and every previous year.⁷

The Ukraine war dramatically increased demand and prices for Saskatchewan potash. Facing economic sanctions, Russia and Belarus slashed their combined potash production from one-third of global output in 2021 to an estimated one-fifth in 2022.⁸

While Saskatchewan mined the same volume of potash in both years,⁹ the value of those sales leapt from $7.6 billion in 2021 - already above any prior year - to $18.0 billion in 2022.¹⁰ An extra $10.4 billion arose not from additional production, investment or risk-taking by mining companies but from international events beyond their control.

This sum is enormous for Saskatchewan, enough to pay off the provincial General Revenue Fund’s entire operating debt.¹¹ Ten billion amounts to $8,500 for every Saskatchewan resident,¹² seventeen times the value of the $500 Affordability Tax Credit cheques the provincial government sent only to adult tax-filers.

The potash windfall could have been distributed to Saskatchewan people through cash transfers or tax cuts, used to pay off debt, saved for future generations, or invested in provincial infrastructure and services such as healthcare, education and housing. To fund these worthy goals, the Government of Saskatchewan would have needed to collect much of the ten billion on behalf of resource owners.

The provincial Public Accounts, reported by fiscal year, indicate that potash revenues nearly doubled from $1.3 billion in 2021-22 to $2.4 billion in 2022-23 - an additional $1.1 billion from Crown royalties and the potash production tax. Although resource surcharge revenues are not broken down by commodity, the flat 3% surcharge on ten billion of incremental potash sales would have added $0.3 billion.

Therefore, Saskatchewan’s royalty and tax system collected $1.4 billion of the potash windfall. It left the lion’s share in mining company coffers, which contributed to temporarily higher share prices, continuing dividend increases and higher corporate tax payments.

[GALAXIE500]

I grew up listening to die hard NDP supporters blaming the Devine government for all of their problems that their farm \ business had for 30 years ! Some people just can't get off of the blame game. People in Alberta and Saskatchewan better remember what the NDP did to them , especially Sask.

Just my opinion, but Saskatchewan got emptied out into Alberta for a reason.

[AlbertaFarmer5]

Chuck, your cut and paste hit piece on potash uses the word windfall no less than seven times.
You post a lot about windfall profits and excess profits, obviously this is a very important issue for you.
I've asked you before and not heard an answer, have you given back the windfall profits from your 6,000 acre farm from the previous couple of years of excessive prices?

[WiltonRanch]

Find it funny how cc has names for those he hates but none for his idols. Crypto Poly or Curly Moe come to mind. It’s always the same lunatic messaging. Same with Newguy popping every so often to feign a centrist. You guys tactics are old and we see through them. Hard to criticize current sk party govt when ndp partisans here to poison the well.

[goalieguy847]

Sorry. Im a big proponent of no oil and gas ( and renewable energy) subsidies. If there id money to made then you shouldnt need to reduce taxes or incentive business from getting into it.
JUST BECAUSE you open a business doesnt mean you get to survive. Capitalism creates efficiencies.

Our local gasplant here in Redwater has been owned by 4 different companies in the last 7 yrs. The bank is currently paying the operators cheques.

We own land with wells on it and maybe half have been paid rent for 2022..let alone 2023.
So why would these garbage companies get any sort of break?
you canf hack it. You die. Done. The oil in the ground is still worth 80 a barrel. You just arent able to run efficiently enough to make it. See ya.

MOE is wrong in the actions here.

So is subsidizing someone 7500 bucks to buy a tesla. That costs 100 k.

Dumb.

[newguy]

I grew up listening to die hard NDP supporters blaming the Devine government for all of their problems that their farm \ business had for 30 years ! Some people just can't get off of the blame game. People in Alberta and Saskatchewan better remember what the NDP did to them , especially Sask.

Just my opinion, but Saskatchewan got emptied out into Alberta for a reason.

You never heard the whole story about the Devine government and why the conservatives and liberals joined under a new name to put it behind them. Worst part was the corruption resulted in loss of a life.Should not have to say any more.

[chuckChuck]

Grant Devine the overspending "fiscal conservative" who just about bankrupted the province with all his give aways and then went down in flames because many of the cabinet couldn't keep their personal hands off taxpayers money!

They quickly changed their name to the Sask Party and their new motto was "bend over for business" at any cost!

We needed a Newfoundland premier like Danny Williams who knew how to negotiate with the resource sector. Not the Sask Party Pansies who roll over easily!

[newguy]

House speaker says Sask Party are bullies and disrespect the system.Looks like Angry Moe has taken up Trump politics .

[WiltonRanch]

Come on Newguy your partisanship is so apparent it is laughable. Sask party isn’t great but your jumping in here further cements the fact you are an ndp troll. No one is believing you schtick. Find a new routine.

[TSIPP]

House speaker says Sask Party are bullies and disrespect the system.Looks like Angry Moe has taken up Trump politics .

I’d say we need a new system!

[chuckChuck]

Randy Weekes the former speaker of the Sask Legislature has nothing good to say about Jeremy Harrison the Sask Party House leader nor the party. Ripped up his membership!

The reality is the Sask Party has been bullying supporters and opponents who speak up in disagreement.

Randy Weekes didn't make all this up. Moe called it sour g****s.

That's Curly Moe's lame excuse for bad behavior on the part of the house leader?

The finance minister also sent inappropriate aggressive texts to Weekes! What is Moe's excuse for his finance minster's bad behavior? Because its not sour g****s!

Its a repeated pattern of bullying the speaker when they don't get their way!

So the name of fruit used for jelly and wine is forbidden on Agrisilly?

[AlbertaFarmer5]

Now we have a problem. Since Chuck appends the name of every conservative politician with a y such as Dougy and Danny and polly etc, but never a left-wing politician, to make sure we understand his completely non-partisan position.

Now he is bringing conservative Danny Williams into the discussion. His name ended with y to start with, is he a good guy or a bad guy?
What about Randy Weekes?