We have never benefited from the promise of any offshore discovery ever since Gerald Regan, then Premier of Nova Scotia, held up a vial of oil taken from an offshore oil well in 1972 when the headlines in the Chronicle Herald screamed, in bold letters, “IT’S OIL”. While oil discoveries throughout the world benefited the regions in which it was found, the same can never be said for the discoveries found in the offshore around Nova Scotia. Unlike Newfoundland where that province stood up for its mineral wealth our spineless politicians wimped out and let Ottawa take it or the companies drilling for it simply carted it off for themselves. Nova Scotia is a have not province without any hope of every being a have province. We continue to be mesmerized by our politicians into thinking if we give enough taxpayer money to big business we will one day become a have province. We cannot buy wealth. Everyone from Mayor Jock Savage, who is basically a sports promoter to our appliance repairman premier is trying to convince us to support big business for future wealth. It just ain’t gonna happen. We are $15,000,000,000.00 in the hole for a reason and it is because of stories like this that keeps on being repeated at the expense of all Nova Scotians.
Gary I am not sure where you are getting your facts. By my count we have had over $3 billion of revenue to the provincial treasury , not including personal income tax from people working on the offshore. The single biggest piece of that was the $840 million John Hamm negotiated for the offshore accord. I don’t believe Newfoundland and Labrador negotiated any corresponding amount.
Considering the way that the governments (of all political stripe) have performed in this province over at least the past two decades, we should not be overly optimistic that maximum benefit will be derived from oil/gas exploration and subsequently flow through to the general population.
NS. Has to inventory what we have as businesses and determine what we export that can be expanded.
Oil and gas revenues are really “windfalls” and should be treated as such. Lougheed in Aberta took their oil and gas revenues and put the majority into a Hertiage Fund which was then managed as investment monies.
He even bought hundreds of grain rail cars as one investment .
Don’t get any impression NS has such an investment strategy. we “react” instead of “pro act”!!
We have never benefited from the promise of any offshore discovery ever since Gerald Regan, then Premier of Nova Scotia, held up a vial of oil taken from an offshore oil well in 1972 when the headlines in the Chronicle Herald screamed, in bold letters, “IT’S OIL”. While oil discoveries throughout the world benefited the regions in which it was found, the same can never be said for the discoveries found in the offshore around Nova Scotia. Unlike Newfoundland where that province stood up for its mineral wealth our spineless politicians wimped out and let Ottawa take it or the companies drilling for it simply carted it off for themselves. Nova Scotia is a have not province without any hope of every being a have province. We continue to be mesmerized by our politicians into thinking if we give enough taxpayer money to big business we will one day become a have province. We cannot buy wealth. Everyone from Mayor Jock Savage, who is basically a sports promoter to our appliance repairman premier is trying to convince us to support big business for future wealth. It just ain’t gonna happen. We are $15,000,000,000.00 in the hole for a reason and it is because of stories like this that keeps on being repeated at the expense of all Nova Scotians.
Gary MacLeod | June 29, 2014 |
Gary I am not sure where you are getting your facts. By my count we have had over $3 billion of revenue to the provincial treasury , not including personal income tax from people working on the offshore. The single biggest piece of that was the $840 million John Hamm negotiated for the offshore accord. I don’t believe Newfoundland and Labrador negotiated any corresponding amount.
Bill | June 29, 2014 |
Considering the way that the governments (of all political stripe) have performed in this province over at least the past two decades, we should not be overly optimistic that maximum benefit will be derived from oil/gas exploration and subsequently flow through to the general population.
bob mackenzie | June 27, 2014 |
NS. Has to inventory what we have as businesses and determine what we export that can be expanded.
Oil and gas revenues are really “windfalls” and should be treated as such. Lougheed in Aberta took their oil and gas revenues and put the majority into a Hertiage Fund which was then managed as investment monies.
He even bought hundreds of grain rail cars as one investment .
Don’t get any impression NS has such an investment strategy. we “react” instead of “pro act”!!
PS | June 27, 2014 |