Last week Justin Trudeau announced $1.7 billion in support for orphan well management in Alberta.
The province has been waiting for nearly a month with bated breath, hoping for a support package for the struggling oil industry.
Unfortunately this support is too little, too late, and directed entirely in the wrong place.
It took Justin Trudeau over a month to figure out this support plan, because he needed to reconcile supporting hundreds of thousands of jobs with his hatred of Albertan industry.
It's hard not to be jealous of the government programs south of the border. Donald Trump has moved heaven and earth for the American oil industry, going so as far as buying barrels of oil, as a direct way to support the struggling industry.
Justin Trudeau is no stranger to that sort of industry aid; he never fails to prop up Bombardier whenever his favourite aerospace industry has a hiccup.
This aid package to Alberta is a mere fraction of the massive fortune Alberta has had stolen from it through equalization payments over the years. “Fraction” isn't even an exaggeration — it is literally less than 1 per cent. (That's not even including the tax revenue provided to the feds through industry operation.)
Alberta is a cow that has been milked dry for years, and as thanks we've been handed several blades of grass.
Robbie Picard of Oilsands Strong joins me to dive into the details.