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Province's critics lack vision
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Province's critics lack vision
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Newspaper Article
Province's critics lack vision
2005
Overview
I met Margaret Wente's column in the Jan. 6 edition of the Globe and Mail with anger initially, but disappointment has slowly replaced that. Don't all of us work with imperfect and incomplete information at all times? Wente chose to brush her truth with long and broad strokes, with little regard for what the canvas really contains. Danny Williams' fight for these oil revenues gives the province at least a chance for a viable future. Newfoundland and the oil companies that work there pump more than 100 million barrels of oil, worth $3 billion, into the economy on an annual basis. After clawbacks, Newfoundland earns a paltry sum of $30 million to $50 million on an annual basis. Similarly, Alberta earns approximately $6 billion every year. In addition to oil, Newfoundland supplies massive reserves of hydroelectricity to Quebec, which yields an annual estimated profit of $1 billion to their coffers. Of this profit, Newfoundland receives a paltry three per cent. And this situation exists only because Ottawa would not grant Newfoundland the right to export energy across provincial lines.
Publisher
Postmedia Network Inc
Subject
