The Alberta Disgrace II

Now the disgrace comes home to roost. This makes me so angry I could just.....just.....I don't know.....vote Liberal.

Yes it's that bad.

At least then I could live without the expectation of the government doing the right thing.

"The touchstone of their concern is the single largest pool of money under de Bever's control: the Alberta Heritage Savings Trust Fund. The fund was established 33 years ago to store up oil profits for the benefit of future generations. But successive Conservative governments first stopped funding it, then began skimming its profits. As of Sept. 30, it stood at $15.8 billion—20% lower than it was 20 years ago (adjusted for inflation). Now, with resource revenues poised to fall sharply and remain depressed for the next few years at least, Alberta could soon face humbling fiscal challenges it should have headed off when times were rosy. By the time de Bever has fixed AIMCo, the province could very well be mired in a full-blown fiscal crisis on par with that of the 1980s—leaving it no choice but to tap the Heritage Fund or run up massive deficits. It's hard to believe, but Alberta, the Wonderland of Canada—with its oil sands, no sales tax and debt-free balance sheet—has pissed away another oil boom." Sean Silcoff, Globe and Mail

Yes Mr. Silcoff it is hard to believe.

Very hard.

The question is how bad will it get?

Read the full Globe and Mail story here.