Quote:
Originally Posted by _Q_
That my point though. Things went back to normal after Stelmach reversed the changes. Somehow, though, when Notley decided to keep things the same the damage was permanent?
Look, the problem here is nobody wants to buy Alberta oil. Our main customer is now our biggest competition. On top of that, our oil (correctly or not) is seen as the dirtiest oil in the world. All the pipelines in the world won't fix any of this.
The previous government's attempt to diversity the economy was what was needed. Not a "war room" and reduced taxes.
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Some posters keep trying to look at the royalty review as a single factor, which it is not. These investment decisions are made based on a complex calculation of all factors, which are not only limited to the factors that affect the market for O&G in Alberta, but also every other O&G jurisdiction in the world as well as every other investment opportunity in the world.
In your own post, you pointed out some differences in the market between 2007 and 2015. We were lucky in 2007 because the O&G market in Alberta wasn't facing as many head winds, the Permian hadn't fully opened up and world oil prices were stronger (~$80) and heading upward, and the differential wasn't yet as affected by pipeline capacity.
So yes, same action, far different circumstances and far different consequences.