Saskatchewan has squandered its potash wealth: Cline
HTML-код
- Опубликовано: 30 июл 2024
- Eric Cline, author of 'Squandered : Canada's potash legacy', joins BNN Bloomberg to discuss how potash firms got rich in Saskatchewan.
Subscribe to BNN Bloomberg to watch more videos: / bnnbloomberg
Connect with BNN Bloomberg:
For the latest news visit: www.bnnbloomberg.ca
For a full video offering visit BNN Bloomberg: www.bnnbloomberg.ca/video
BNN Bloomberg on Facebook: / bnnbloomberg
BNN Bloomberg on Twitter: / bnnbloomberg
BNN Bloomberg on Instagram: / bnnbloomberg
BNN Bloomberg on LinkedIn: / bnn-bloomberg
--
BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.
Canada squandered its wealth
Has the resources, land, and surrounding sea to literally become a top 5 superpower but continues to shoot itself in the foot over and over again.
Your wrong. The only thing squandered was our youth when the NDP was in power 20 years ago!
You're* .. rednecks can't even spell but think they know everything
An NDP party member? Seriously?
Used to be a crown corporation 🤬
Yeah and they lost money every year when that was the case.
@@squirelly6175 prices were low. Now all the money goes to the wealthy, many could give a shit about sask let alone live there. Your corporate globalist garbage has cost Saskatchewan people their rightful cut of their birthright doofus
@@squirelly6175of course RUclips deleted my response 🤬
@@mendoza4789 what did you say?
Saskatchewan has the most uranium anywhere in the world… they are fine 😂
That’s the thing, having the resources is one part of the puzzle. Managing them wisely is another. Africa by all rights is abundant in resources but the wealth of all those mines is not benefitting the workers literally slaving away to procure them. Not in the slightest.
When NDP talk we ignore.
Stoopid is as stoopid does I guess huh ?
Sad thing is many are willing to hear another party out other than liberals or conservatives due to the current state of things but NDP just wants to continue to talk negative nonsense.
And that is why Saskatchewan is in such a sad state.
Hard for you to listen with your head in your ass
The problem with the BHP is there is only so much demand for potash. It used to be that pcs managed its production to keep the price up similar to opec. Once bhp enters the. Market it will be low cost producer and the price of potash will drop by two thirds as the russian companies will be in a price war with saskatchewan companies.
Oh my. NDP socialists strike again. I know NDP sask history. I lived it. Voters have spoken many times through the development of potash.. Leaving NDP to judge was a good rate of return, be an economic disaster.
As a crown corporation all that money would be ours. Potash corp used to be a crown corporation
@mendoza4789 not true. It would end up in the pockets of a abnormally large amount of top office positions appointed to friends of government officials and then the over paid big business union bosses, and then down to the workers, then little left for the public.
I remember balanced budgets and an economy that was poised to be the best in the country and then the ndp lost the election. Been getting worse every year since. But the roads are better.
@@doughooper9918 sasktel posted a big profit last year. According to these oligarchy apologists and nut hangers that should be impossible for a crown corporation wtf. Every crown corporation should go bust from corruption and incompetence. Bet none of these idiots have ever even landed in sask on their way from Vancouver to Toronto. No guys not everywhere is as corrupt as Vancouver 😂
@@RyanBanman not true first off.. but even if it was -- now the money goes to some billionaire psychopaths who have never even heard of Saskatchewan let alone been there ,and they hide the money in Panama. If some big labour people ever got some extra money I would be against that, but at least those people would be from sask and would not have contempt for people from sask
How come the share price of nutrien is so low?
People forget Saskatchewan was broke before they signed royalty deals and stopped trying to manage a mining company. Built up Regina and Saskatoon and start retaining youth instead of losing them. Now Regina is best bang for buck in Canada when it used to be a joke. Scott Moe and his predecessor have done an excellent job considering what they where given.
it all belongs to natives. sorry to burst ur bubble but no more stealing there bud
@@user-mu2xu7dy5f lol. That doesn't even make sense. What the heck does the Jansen mine off Humboldt have to do with the mine in Esterhazy and mosaic and potash royalties? over the past 15 years the Government of Saskatchewan's fiscal regime for potash has attracted $30 billion in committed capital investment in new mines and expansions. If that is not a success what was?
@@user-mu2xu7dy5fNever seen one native working a mine. They own nothing.
@@dootdoot1867 What wasn''t 'successful' is brad wall letting Cameco mining hide their profit through their head office overseas thereby shorting the province on hundreds of millions in tax dollars, all at time when the province was tanking, which is most of the time.
So, any gain from potash, lost to wall's criminal shenanigans.
The province has been mismanaged by cons for years now.
What good is a few potash dollars and jobs when the rest of the province is a waste of time.
saskatchewan is a s#&%-hole!
Well said!
Buying a 25 thousand dollar skidoo and trade it in every year or two loosing 8000$ and paying 8% interest rate on it. Lol
Don’t trash my decisions haha
Sounds like my neighbour across the street from me. He’s in deep so bad a piece of my polyurethane vapour barrier ain’t safe 😂😂😂
Some interesting stuff here with a great perspective point of view . I think many people are not in tune with all these political decisions. I am one of them. Just interested in the topic.
I would surely to goodness hope for the sake of them people in Saskatchewan that the potash shareholders are first democratic allies and friendly nations. I just hope that China is not considered any kind of share holder or investor. It would be a shame to find out profits were going to China. In the same similar situation where ipsco was involved with a Russian oligarchs financing and share holding.
I believe there are a couple potash mines , and let’s just hope no foreigners are taking away the income of potential provincial profits for the people who live in Saskatchewan.
It’s definitely time to investigate the whereabouts of the profits are going and hopefully no provincial government has sold out the province behind the people’s back.
As far as uranium, the same audit should be done, seeking the hidden wealth that is being lost from special deals that sold out the people for political gain . The oil industry is again the same. Where are profits going without the people receiving the answers.
Everything looks sold out behind the back of the people. Who owns these industries.
Great points!
After people spend decades working and investing to finally make a profit these NDP and anti liberal guys pop up, give me your money🤣. Oh and our poverty and incarceration rate has nothing to do with the tax rates of potash.
why is canadian citizens still so poor so so much resourses?
Canada has this problem nationwide. Rich, multinational, huge corporations are soaking up all of the wealth to their white-collar executives and investors, and get a free pass when it comes to taxes, fair business practices, and what they give back to their communities. Mining, development, construction, oil and gas, agrifood. More of that wealth belongs to the communities that built those industries. Fairly uncontroversial opinion if you ask me.
You don't understand Capitalism.
Cline was part of the destruction of Saskatchewan economy years ago. I voted for the NDP for decades but since the Conservatives took power, Sask has been a top provincial economic performer in the country often beating out Alberta! GO CONSERVATIVES!! Down with the woke NDP!
There is a provincial election in Saskatchewan, they need change!!
Do you honestly thinkthr socialist ndp would be better? They trash e ry province they manage
Nope.... lived in Sask all my life until 2005. The NDP killed the province.
Your premier is a drunk driving murderer
@@curtismah1261 Living in an NDP governed province will make you an alcoholic. There's a reason Russians drink!
Saskatchewan still has oil and gas to tap.
Oh yes more taxes is the answer. Purely a simplified view of a world economy
Same as Alberta which has squandered it's Oil resources..... one needn't look any further than the Alberta Heritage Trust Fund started by Peter Lougheed at the same time as Norway began StatOil upon a very similar model ?
Along came a buffoon named Ralph Klein..... and PRESTO !
45 years later Norway now has a $1.4 Trillion Sovereign Wealth Fund, Free HealthCare and secondary Education System/Pensions and on and on...
while Albert'a Heritage Fund has been stick at $18 Billion since Klein.... oh well... isn't Corporate welfare "Free Enterprise" wonderful huh ?
Selling to private interests sucks all the wealth out of the province vs provincializing it and harnessing the wealth into a trust / benefit that nourishes overtime. The choice is clear.. especially when private businesses pay no tax... LoL
Lol Norway’s oil is nationalized.
@@Tomyum19 Very similar Heavy Ol products... completely different Royalty system.
Google it for yourself.... Albertan's as owners of the resources, receive the lowest Royalties in the world by far for their Oil .
Why is that huh ?
The guys down at the petroleum club think so!
@@Tomyum19so what?
At least they have some control over their destiny.
What has Alberta got?
Sure ain’t west Texas intermediate.
Canada squandered it's wealth, yes, but I alsonrefuse to listen to anyone with ties to the NDP on any matters regarding economics, business, etc.
Having a member of the NDP as an industry expert discredits your network’s journalism reliability, particularly in financial matters.
There is a reason the NDP aren't running the province and Cline is one of them!!!
A well reasoned, balanced perspective
Only for people with low level thinking... aka NDP voters.
@@squirelly6175 putting aside ideological positions, what specifically was said about natural resource development that you object to?
@@leswhynin913I don't disagree with natural resource development. I object to higher taxation & royalties. The NDP always do this.... they pander to young people and people who have never operated a business for themselves.... somebody with ingenuity & ambition to start a business. The fact is if you increase taxation & royalties investment from outside capital will dry up. It's easy to come in after the investment is made and say "ok now we are going to increase your royalties".... Fact is if the NDP was in place to begin with nobody would have invested in the first place. But ideologues like the NDP blame all the inflation we are experiencing on "greedy capitalists" and young naive people believe this bs. People who can think for themselves know that all of the inflation is a result of the govt printing money. Couple of things for you to think about.... I've been invested in Nutrien for the last 3 years. If the company is swimming in cash like this politician makes it sound then why has the stock continued to go down asides from the dividend? Second point .... why were all of the Potash mines developed by companies based outside of Canada? If Canada is so dam smart why didn't we develop our own resources? ... the answer is taxation. Canadians are taxed so much that it makes more sense to do business in the US. Big operations like potash mines requires capital.... the individuals who have the capital are not coming to Canada when you have a woke govt that taxes people & companies to the nuts.
@@leswhynin913 anyways I replied but my comment was removed. Didn't say anything controversial. Typical RUclips.
1300$ in 2022 did not last long (War in Ukraine). Potash is trading at around 350$ now, I think.
Check the facts. Way to many news stories that are constantly fact picking for their narrative. It's getting irritating...
It was over $600 for 15 months.
You lost me at NDP
As if the NDP know anything about how any business works
Relax lil man it's not going anywhere.
Also oil and gas as well.
Hahaha! NDP minister! Get lost, now we know that he’s not an expert.