Quote:
Originally Posted by PepsiFree
May I ask what makes you, in the face of how well Oil WAS doing and how little we have in our back pocket to show for it, think we were ever getting our fair share?
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Because we (Canada) has no equity stake in our oil production. And because we've spent it. We did have a substantial savings fund through the 80's, but people want spending. Most of the issue is that we have absolutely no ability to tell private companies to pay us more. We can't say, "take it or leave it" because we don't have a back up plan. Again, we love spending so we need the corporates giving us jobs, taxes and royalties. If you're willing to load the shovels up, drive to ft mac and start filling up buckets, then you can say that it is your resource and you want to get the most out of it. Until then, you're at the mercy of oil companies. In that sense, of course this should have been reviewed in the $100 oil era.