.maxfawcett: Danielle Smith is in deep trouble — and she just keeps digging via NatObserver
an Alberta Pension Plan could yield billions in savings for the province, and that this money would more than cover the hundreds of millions in new costs associated with a new provincial police force or the additional bureaucracy needed to collect taxes in Alberta. But this math relies on demographics that were shaped by an oil boom — and more specifically, an oilsands mine construction boom — that no longer exists.
More ominously, Smith has also suggested in the past that an Alberta Pension Plan could be used to shield the province’s oil and gas industry from the growing push to divest from high-carbon assets. “If the CPP starts bailing out of energy resources,” shein 2019, “we don’t want to be in a position where our money is being used to support solar and wind or other experiments that the CPP, driven politically by a Trudeau government, might want to invest in.
Polls show #Alberta Premier Danielle Smith is up to her neck in trouble, yet she keeps digging in deeper. @maxfawcett writes for @NatObserver. #opinion #abpoli, by law, tell the Canada Pension Plan’s investment board where or how to invest the money it stewards on behalf of all Canadians. And let’s set aside, for the moment, the fact that the CPPIB has easily outperformed its provincial counterpart, the Alberta Investment Management Corporation since the latter’s creation in 2008.
It’s not clear if Smith doesn’t realize that these ideas are poison for the moderate and swing voters in Alberta she needs to court or if she simply doesn’t care. The results of the recent midterm elections in the United States, and the Republican Party’s failure to live up to its own predictions of a “red wave,” offer an obvious cautionary tale about the risks associated with straying too far from the political mainstream.
We’ll find out soon enough where that mainstream really lies in Alberta — and whether Danielle Smith can dig her way to it or not.
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