picard102
Senior Member
So we don't want Norway style wealth then.
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PM Mark Carney's Canada
- Thread starter Richard White
- Start date
urbanclient
Active Member
It being a disaster is just evidence of Canadians historically being bad at state-owned enterprises.
Evidently the Norway model didn't lead to the same issues and consequences. In a different world where Canada pulled off something like Norway, Alberta would have to be allowed to keep more of its wealth.
Equalization payments are a hot topic even in this world.
Mihairokov
Senior Member
Alberta certainly didn't and look where that got them.
lenaitch
Senior Member
A bit of apples-and-oranges comparison. Constitutionally, Norway has no sub-national levels of government; although it does have internal administrative areas and municipalities. In Canada, natural resources are within provincial jurisdiction; although anything inter-provincial, like pipelines, are federal.
afransen
Senior Member
Not sure I agree that it is hypocrisy. They produce oil to satisfy the demand of other countries, which they would largely consume from different sources if not Norway. Meanwhile, they provide a market for decarbonization technology to develop and be deployed more broadly.
urbanclient
Active Member
It's hypocrisy to the people and politicians who railed against Canada expanding LNG exports in the last decade. To the tune of losing $20+ billion a year in LNG exports for BC alone. Delays and cancelled projects galore.
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Mihairokov
Senior Member
Broadly agree. Think they can put up a fight in Rosemont with the right candidate.
adma
Superstar
Plus, now that Carney has his majority, I can picture voter cynicism re any overwrought government bid to bolster it; the NDP isn't a force to "stop" in the same way the Cons or the Bloc are; there's no real urgency to cast a protest vote with the Bloc when the NDP's the sitting party; and for all the naysaying re the post-Layton/Mulcair NDP in QC, they actually have *not* done that badly relative to the bigger picture in Montreal, even if they haven't been able to go beyond that single seat--there's definitely an "urban progressive synergy" with QS. You might even say that in a way that even goes beyond Boulerice, Montreal's now a better town for the federal NDP than Toronto is...
Northern Light
Superstar
In line w/all the recent Sovereign Wealth Fund chatter here, the Carney Government has just announced one this morning.
It will directly seed 25B in capital over 3 years, with a mandate to deliver market returns on investments.
In additional there will be some sort of vehicle for public participation in which Canadians can co-invest, with a guaranteed principle.
The announcement is here:
www.pm.gc.ca
The backgrounder is here:
www.canada.ca
From the above, in order:
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It will directly seed 25B in capital over 3 years, with a mandate to deliver market returns on investments.
In additional there will be some sort of vehicle for public participation in which Canadians can co-invest, with a guaranteed principle.
The announcement is here:
Prime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund
At the core of this new strategy are nation-building projects – new ports, mines, and trade and energy corridors that will unlock our vast resources, secure our domestic supply chains, and enable us to sell to new markets across Canada and around the world.
The backgrounder is here:
Canada Strong Fund - Canada.ca
The government is launching Canada’s first national sovereign wealth fund—the Canada Strong Fund. This fund is about making sure that the returns from Build Canada Strong are shared with Canadians.
From the above, in order:
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Admiral Beez
Superstar
Well said. That doesn't mean that Ottawa does not have a role to play in Alberta's oil industry, but that should be as booster and problem solver to any barriers, such as negotiating with FNs and provincial legislatures, while promoting Alberta (and Canada) to the world petroleum market. Imagine if instead of a NEP that capped prices and transferred wealth out of Alberta, PET built a NEP in partnership with Alberta with the primary goal of boosting the province's wealth, in the understanding that what's good for Alberta is good for the country. Such a plan might have seen federally-mandated oil pipelines built to the Pacific and more importantly from Alberta to the refineries in Atlantic Canada. This would boost jobs and infrastructure investment across the country - leading Canada into the 1980s with a solid national energy plan, and much less Western alienation. Another objective could be diversifying oil shipments to new markets.
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Admiral Beez
Superstar
The good thing is that it's never too late to correct these historical failures. We're now shipping LNG out of Kitimat, BC and Saint John, NB, with another LNG port building in Squamish, BC.
Westey
Active Member
Too long to read.In line w/all the recent Sovereign Wealth Fund chatter here, the Carney Government has just announced one this morning.
It will directly seed 25B in capital over 3 years, with a mandate to deliver market returns on investments.
In additional there will be some sort of vehicle for public participation in which Canadians can co-invest, with a guaranteed principle.
The announcement is here:
Prime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund
At the core of this new strategy are nation-building projects – new ports, mines, and trade and energy corridors that will unlock our vast resources, secure our domestic supply chains, and enable us to sell to new markets across Canada and around the world.
The backgrounder is here:
Is this a rebranded "Infrastructure Bank", or is it a whole new scam that will run in parallel.?
afransen
Senior Member
Cautiously optimistic. I hope it is not overly mandated with trying to build national champions. The retail investment angle is a bit odd...In line w/all the recent Sovereign Wealth Fund chatter here, the Carney Government has just announced one this morning.
It will directly seed 25B in capital over 3 years, with a mandate to deliver market returns on investments.
In additional there will be some sort of vehicle for public participation in which Canadians can co-invest, with a guaranteed principle.
The announcement is here:
Prime Minister Carney announces the Canada Strong Fund – Canada’s first sovereign wealth fund
At the core of this new strategy are nation-building projects – new ports, mines, and trade and energy corridors that will unlock our vast resources, secure our domestic supply chains, and enable us to sell to new markets across Canada and around the world.
The backgrounder is here:
Canada Strong Fund - Canada.ca
The government is launching Canada’s first national sovereign wealth fund—the Canada Strong Fund. This fund is about making sure that the returns from Build Canada Strong are shared with Canadians.
From the above, in order:
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urbanclient
Active Member
Took the words out of my mouth.
narduch
Senior Member
This will 100% be a slush fund for corporations.