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Alberta Set to Suffer Consequences of NDP Poor Financial Management

Posted on December 18, 2015 by Meagan Wade

EDMONTON, AB - December 18, 2015 - Alberta Party Opposition Leader Greg Clark has serious concerns about Alberta’s financial future following S&P credit rating downgrade.

“We saw this coming,” said Clark. “This exact situation is why I asked the Minister of Finance multiple times if they had prepared a sensitivity analysis regarding a credit rating downgrade.

On Friday, S&P downgraded Alberta's credit rating from AAA to AA+, citing decreasing oil prices and poor budgetary performance.

 

“This is worrying because it impacts both existing debt, and the capital finance authority for any new issuing of debt.”

“This is a very serious problem, and the ND’s should have prepared a sensitivity analysis for this exact situation. At the very least this will increase our borrowing costs, and we know the full effects will be wider reaching in an already troubled economy.

 

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For an interview please contact:

Natasha Soles

Research & Communications Coordinator for

Greg Clark, Leader of the Alberta Party Opposition

Natasha.Soles@assembly.ab.ca

(c) 780.722.4733


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  • commented 2016-01-13 12:00:00 -0700
    Oil is dead and will never recovery to its former glory if it shows any recovery at all.
    Oil markets are disappearing into the nuclear realm while the glut goes on. Some examples from which there is no turn around’
    Westinghouse are putting in new mini nuclear reactors into India a one time promised land for oil sales. The Conservatives blew that one. Seerate quote below on this.
    China is building or has built by this time 20 nuclear generating plants 1000 MW each. Their equivalent of the US 500 MW mini. Not only do these plants cost less they can be placed strategic to cut down on power lines needed. Their biggest expense is that of finance and come in below or near coal plants and last 3 times as long. Plants store spent rods on site for as much as 80 years. On 2000 MW the rods spent would fit inside a household refrigerator.
    Japan was paying 17.00 per mcf of natural gas, They asked Obama if they could get in on the north American pricing and were told NO.
    This brought in a new Government in Japan who immediately opened its 3 remaining nuclear plants and promised 6 additional in and generating within a year.
    Iran will be capable of shipping 1 million barrels per day before next year! Presently around 600,000 barrels. More
    floating oil. Alberta has built a 80 million barrel tank farm outside of Bruderheim Alberta. It will cover their current production for about 2 years
    then, build more tankage. This all becomes part of the glut and they can’t shut down as that would invoke a cleanup war.
    Don’t confuse market gambling with a real market. The markets are gone with nuclear being the bigger winner
    Further on India: Quote:
    NEW DELHI — India expects to seal a contract with Westinghouse Electric to build six nuclear reactors in the first half of next year, a government
    official said, a sign its $150 billion dollar nuclear power program is getting off the ground.
    The proposed power plant in Prime Minister Narendra Modi’s home state of Gujarat will accelerate India’s plans to build roughly 60 reactors, which would make it the world’s second-biggest nuclear energy market after China.
    India wants to dramatically increase its nuclear capacity to 63,000 megawatts (MW) by 2032, from 5,780 MW, as part of a broader push to move away from fossil fuels, cut greenhouse gas emissions and avoid the dangerous effects of climate change.
    The way things are shaping up the US will be self sustained all right but; it will leave the door open for environmental wars of a science fiction type being the dirtiest producer possibly in the world. Things are moving very very fast. We are loosing our glaciers now; our drinking water and oceans are rising. By next year there promises to be a 4 degree increase in world temperature and the world seems to be going nuclear, not oi for sure.
  • Alberta Party posted about Alberta Set to Suffer Consequences of NDP Poor Financial Management on Alberta Party's Facebook page 2015-12-19 08:30:08 -0700
    Alberta Set to Suffer Consequences of NDP Poor Financial Management
  • @AlbertaParty tweeted this page. 2015-12-19 08:30:05 -0700

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