“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.
Oct 23, 2022 • 5 tweets • 2 min read
"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 a previous life, Hirsch was think-tanker attacking .@ParklandInst researchers & offering apologetics for deficit-creating royalty cuts...(CH 22/4/95:A5)
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.
