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Regan Boychuk

@RKBtoo

Oct 24

@ABDanielleSmith

.@ABDanielleSmith's #RStarScam pet Kris Kinnear is pushing #RoyaltyBunk:

"These benchmarks combined have made capital availability to #oilandgas producers next to extinct."

In reality, it's lack of profit in #abpoli o&g since '09 & insolvency since '05:

saenetwork.ca/royal-line-of-…

Accidental truth:

"a co’s income changing month-month...is affected as much if not [>prices+demand than] by production decline + operational failure."

See:
economicsfromthetopdown.com/2022/02/10/a-c…
+
economicsfromthetopdown.com/2022/09/24/how…

More accidental truth:

"In a price environment such as Western #cdnpoli’s [in 2021],for many #abpoli #oilandgas producers...“breakeven”now either requires low capital ops yielding production increase, or requires a significant commodity price increase."
[i.e. they're #insolvent]

Read 6 tweets

Regan Boychuk

@RKBtoo

Oct 24

“The #oilandgas industry...has never been a free-market capitalistic enterprise. #JohnDRockefeller built his oil empire on the legendary monopolistic fraud, deception, & anticompetitive conspiracies of #StandardOil.” #abpoli
(Black /Internal Combustion/ St. Martin’s 2006:p.271)

In 1938, Standard Oil interests organized AB's first o&g regulator. Its first order of business was strangling local production, which it halved--sparking the creation of a Royal Commission into AB oil.

The 1940 report,drafted by chief justice of AB's supreme court is brilliant.

"The [1940 McGillivray] Commission’s review & findings regarding conservation...emerged from the only substantive provincial review of the Conservation Board that has ever been undertaken."

(Breen /Alberta’s Petroleum Industry & the Conservation Board/ UofA + ERCB 1993:p.172)

Read 9 tweets

Regan Boychuk

@RKBtoo

Oct 23

"Theoretically, actual and fictitious capital are totally different creatures with totally different magnitudes. But the capitalist reality is denominated in prices, which means that, in practice, real and fictitious capital are deeply intertwined."

evonomics.com/what-do-econom…

"This #CambridgeControversy, as it later came to be known, has since been buried and forgotten. The textbooks don’t mention it, most professors haven’t heard about it and certainly don’t teach it, and the unexposed students remain blissfully ignorant of it.[4]"

"In every other science, this inability to measure the key category of the theory would be devastating (think of measuring Newton’s gravitation without mass or distance). But not in the science of economics.[10]"

Read 5 tweets

Regan Boychuk

@RKBtoo

Oct 22

@RachelNotley

This is an ominously disappointed signal from .@RachelNotley's .@abndpcaucus.

In a previous life, Hirsch was think-tanker attacking .@ParklandInst researchers & offering apologetics for deficit-creating royalty cuts...(CH 22/4/95:A5)

#ableg #abpoli #RedWater #Spyglass #Trident

https://twitter.com/RachelNotley/status/1583506465817759744

@atbfinancial

Despite admitting he doesn't understand bank-originated money/credit, Hirsch was at.@atbfinancial when they tanked #RedWater 7 days after Notley elected.

ATB then tanked #Spyglass in the middle of the NDP's royalty review.

ATB welcomed .@jkenney to office by tanking #Trident...

Those 3 co's represent a very sizeable proportion of the Orphan Well Association's current inventory.

That photo of Notley + Hirsch + Phillips signals something very disappointing about #abpoli's #ableg opposition & the complete lack of an alternative for AB #oilandgas policy.

Read 4 tweets

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