Sweden just dumped it's Alberta Bond holdings

[04Terminator]

And others considering the same, because we lack any sort of realistic climate policy.

https://www.reuters.com/article/us-canada-bonds-sweden/swedens-central-bank-sells-off-bonds-from-canadian-province-over-climate-concerns-idUSKBN1XN2O9

[bjstare]

:rofl: as if they care that much about the environment. They care about making money.

Probably a few reasons factored into this decision, and I'm willing to bet environmental policy was at the bottom of that list, what a bunch of horse shit haha.

[killramos]

An activist federal bank most famous for massive negative interest rates with about as much investable assets as AIMco has divested a small % of a single digit % of its assets it held in Alberta treasuries.

Yea I think we will get over it.

[Xtrema]

Let's see where this goes. On the flip size, I think all these separation rhetoric is starting to have an effect that a central bank is offering negative interest rate is dumping our bonds.

Not lowering our debt in any significant way AND separation? Yeah, that won't go over well.

[ZenOps]

Good for Sweden. The US is not far behind though, without much doubt they will be at zero soon enough.

What is money really? It seems the more you owe, the more you default on - the more likely you will get to be president. Matrix reality, boomers were wrong.

China is winning?

[suntan]

It is Alberta Bond holdings.

[Super_Geo]

Let's see where this goes. On the flip size, I think all these separation rhetoric is starting to have an effect that a central bank is offering negative interest rate is dumping our bonds.

Not lowering our debt in any significant way AND separation? Yeah, that won't go over well.

Alberta will never separate.
There will be a ton of rhetoric, but it will never happen.

[Xtrema]

Alberta will never separate.
There will be a ton of rhetoric, but it will never happen.

It doesn't need to happen, all you need is talk and confidence is gone. Brexit already served as a prime example.

People seems to have already forgot why CPR HQ is here instead of in Montreal.

[ZenOps]

Never made much sense to me that threatening to leave somehow got you a better bargaining position. It does, but still seems like an awful way to negotiate.

If you threaten to leave the British Empire, that's when they send the elephants to run you over. China would rather you agree to stay at the table and be productive.

[Super_Geo]

It doesn't need to happen, all you need is talk and confidence is gone. Brexit already served as a prime example.

People seems to have already forgot why CPR HQ is here instead of in Montreal.

Agreed, and sorry I misread the angle of your original message.

Wexit really cuts off ones nose to spite the face.
Things are already bad enough for Alberta, throwing separatist talk that has 0 chance of materializing just makes things worse for everyone (to your point above).
I guess some people are willing to have that long term loss of upside for feeling like they gave Ottawa a piece of their mind.

[suntan]

No one in the gov't is saying that Alberta should separate.

But as we can see with Quebec, the path to budget surpluses includes such things as not participating in the CPP.

[ExtraSlow]

People don't see a downside, and feel like they are already disadvantaged. Rightly or wrongly, they feel they have nothing to lose.

[Super_Geo]

People don't see a downside, and feel like they are already disadvantaged. Rightly or wrongly, they feel they have nothing to lose.

There's plenty more to lose, mostly in the form of investments.
Also, it makes us look like pouty little kids to the rest of the country, like how we see Quebecers when they talk about separation.

Also, to be fair... when the times are good, there is a vocal minority of Albertans whose douchbaggery is so bad that it makes the entire province look bad, and creates a lot of bad will from others. Guess where that's coming back to bite us in the ass... right now.

We need to be building bridges, but the UCP seems content to stick to populism and antagonize all the stakeholders we need to get on board to get any traction politically.

In the long run, Alberta needs to diversify or Calgary of the 2030s will look like Calgary of the 1990s. I was an O&G engineer for 4 years, worked O&G trading for 8 years... the writing on the wall is as clear as it can be. I got the fuck out.

[Buster]

That's some straight up Stockholm syndrome right there.

[ExtraSlow]

The "truth" of the situation isn't really that important. The feelings far outweigh the facts.

[Super_Geo]

That's some straight up Stockholm syndrome right there.

I just care about future expected value, sector agnostic.
Oil will be as sexy as coal in 1-2 decades (I personally think 1)... where are all the baller coal jobs out there? Trump is about as good as it can get policy wise for coal and the sector is still, and will forever be, in a permanent downtrend.

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iq8mO_XAPod0/v1/-1x-1.png

[Buster]

You are "sector agnostic" but seem to care about if Alberta is viewed as pouty and antagonistic?

You speak about investment and policy (presumably) leading to diversification, and yet you do not acknowledge that investment and policy can also unlock value in the oil and gas sector?

You seem to represent one of the detrimental fallacies that is endemic to critics of Canadian energy development: your bearish outlook on oil as a future energy source is causing you to forget that markets are best equipped to make those decisions. If oil is destined to be uneconomical, then what is the problem with encouraging safe transport corridors and letting investors decide on whether resource and infrastructure development is worthwhile?

If Alberta had a more favorable regulatory environment (amongst other factors like tax regime), then the province would be generating significantly more wealth right now. I do not believe this fact is in dispute. When it comes to separation, or not, the debate is really about whether an autonomous Alberta has more leverage to create those corridors than an Alberta which is subject to the tyranny of the majority in Canada. My views on this are relatively clear. Alberta currently has no leverage, and more importantly never will have leverage because the structure of the federation means it can't have leverage. Now, it takes a significant amount of fear and despair to cause people to abandon the status quo, imperfect as it may be. The fear of the status quo must overcome the fear of change by a significant margin...and at the end of the day the fear of the unknown will always temper bold action.

[msommers]

Interesting graph and article from DNV. From what I've seen elsewhere pertaining to total energy demand globally (ie: electricity, fuels, petroleum-based products etc), green tech does indeed increase from where it is now but by 2050 all other types are also increasing to meet demand.

Increasing electricity demands as standards of living increase globally are going to be met somehow, and frankly in most places that are overpopulated and set to begin really 'plugging in', I'm hesitant to think that any green technology will be the cheapest option.

[04Terminator]

There's plenty more to lose, mostly in the form of investments.
Also, it makes us look like pouty little kids to the rest of the country, like how we see Quebecers when they talk about separation.

Also, to be fair... when the times are good, there is a vocal minority of Albertans whose douchbaggery is so bad that it makes the entire province look bad, and creates a lot of bad will from others. Guess where that's coming back to bite us in the ass... right now.

We need to be building bridges, but the UCP seems content to stick to populism and antagonize all the stakeholders we need to get on board to get any traction politically.

In the long run, Alberta needs to diversify or Calgary of the 2030s will look like Calgary of the 1990s. I was an O&G engineer for 4 years, worked O&G trading for 8 years... the writing on the wall is as clear as it can be. I got the fuck out.

Separatists are incredibly stupid, short sighted people.

Rest of the world may want to separate due to culture, ethnicity, oppresion, extreme poverty like Libya, kurds, etc. These maggot snowflakes here are well off in comparison, best economy in Canada, and want to separate because of a commodity, a very undesirable and dirty one at that. lol. It would be funny if it wasnt sickening.

Let's bury our heads in the sand, and hurt our credibility because we lost one election provincially in 50 years and 40% of the time nationally. Waaaahhhh.

Unebelievable.

[msommers]

These maggot snowflakes here are well off in comparison, best economy in Canada, and want to separate because of a commodity, a very undesirable and dirty one at that. lol. It would be funny if it wasnt sickening.

Let's bury our heads in the sand, and hurt our credibility because we lost one election provincially in 50 years and 40% of the time nationally. Waaaahhhh.

Unebelievable.

We both know this isn't true, so why bother saying it.

[04Terminator]

We both know this isn't true, so why bother saying it.

Of course it's true. 100%