I had the following comments in yesterday’s front-page story on Vale’s decision to postpone its proposed $3-billion potash mine at Kronau, Saskatchewan: Regina economist Erin Weir, who is widely expected to run for the leadership of the provincial NDP, said in a statement Friday that the Vale announcement “represents a
Continue readingTag: potash
The Progressive Economics Forum: 1% Potash Royalties: Typo or Foreshadowing?
Saskatchewan’s Ministry of Energy and Resources has released its 2011-12 Annual Report. The potash table (page 36) incredibly shows “Royalty/Tax” revenue of only $62.5 million in 2010-11 and $38.4 million in 2011-12. These figures amount to just 1.2% and 0.6% respectively of the value of potash sales. I have long
Continue readingThe Progressive Economics Forum: Agrium Halves Potash Royalties
Agrium reports that it paid half as much to the people of Saskatchewan in the second quarter as it had in the same quarter of last year. The company’s quarterly “potash profit and capital tax” payment dropped to $8 million from $15 million a year ago. Agrium’s only potash mine
Continue readingAccidental Deliberations: Wednesday Morning Links
Miscellaneous material for your mid-week reading. – Zach Carter shines a spotlight on the few types of interests who stand to gain from austerity: But the austerity game also has winners. Cutting or eliminating government programs that benefit the less advantaged has long been an ideological goal of conservatives. Doing
Continue readingThe Progressive Economics Forum: Mosaic Profit Argues for Higher Royalties
Today’s Mosaic quarterly report provides further evidence that the Government of Saskatchewan should improve its royalty and tax structure to collect a better return on the province’s non-renewable resources like potash. Quarterly Comparison Despite higher potash prices, Mosaic paid lower royalties and resource taxes to Saskatchewan last quarter than in
Continue readingThe Progressive Economics Forum: Debating Boyd on Resource Royalties
Saskatchewan’s Minister of Energy and Resources replied to my op-ed and letter on Dutch disease and resource royalties. On Friday, he was promoted to Minister of Everything. Columnist Murray Mandryk wrote, “Given the amount of power Bill Boyd now has in his super-economy portfolio, he may be one fluffy Persian
Continue readingThe Progressive Economics Forum: Canadian Mining and Manufacturing Stumble
Statistics Canada reported today that the economy shrank in February, driven by declines in resource extraction and manufacturing. Oil and gas extraction as well as hard-rock mining decreased due to temporary shutdowns. However, the most dramatic decline was in potash production, down 19% due to mine closures in Saskatchewan. The
Continue readingAccidental Deliberations: Saturday Morning Links
Miscellaneous material for your weekend reading. – Trish Hennessy points out that Rob Ford’s contemptuous attack on the idea of secure employment may offer an ideal contrast between the right-wing view of the economy and the stability citizens actually want for themselves: Remember when holding down a job for life
Continue readingThe Progressive Economics Forum: Wall of Silence on Canpotex
Saskatchewan’s newspapers reported today that BHP Billiton intends to sell the province’s potash outside of Canpotex, the marketing board that helps to maximize the price for which Saskatchewan potash is exported offshore. BHP executive Tim Cutt stated, “We will not market through Canpotex. We talked to the premier (Brad Wall)
Continue readingAccidental Deliberations: Thursday Evening Links
This and that for your evening reading. – pogge points out yet another Con slush fund, as public money earmarked for green infrastructure was instead diverted to oil, gas and forestry companies. – Meanwhile, the Cons’ attempt to paint a proliferation of oil pipelines as a matter of national unity
Continue readingAccidental Deliberations: On predictable problems
Yes, the news that the Muskowekwan First Nation may soon see its own potash development is a plus in many ways. But it’s worth pointing out how the story might have been important to the provincial election campaign which concluded earlier this month. After all, one of the Sask Party’s
Continue readingAccidental Deliberations: Tuesday Afternoon Links
This and that for your Tuesday reading.- Yes, there’s plenty of reason for outrage that the Cons are selling access to cabinet ministers through a high-priced club. But this isn’t the first time Con cabinet ministers have dedicated their profile to the…
Continue readingThe Progressive Economics Forum: The Politics of Potash
Advocates of low potash royalties are claiming that New Democrats fared poorly in Saskatchewan’s recent election because they proposed higher potash royalties. Of course, potash companies and their boosters would like the NDP to give up this cause. Doing so would be a political mistake for the party and a disservice to the people of Saskatchewan. Most […]
Continue readingAccidental Deliberations: Wednesday Morning Links
Miscellaneous material for your mid-week reading.- Nanos confirms that even as cities are starting to crack down on the Occupy movement, the general public is highly sympathetic to the message about reining in inequality and corporate control:The Nanos…
Continue readingAccidental Deliberations: Friday Morning Links
Assorted content to end your week.- If there’s any good news in the Cons’ constant attacks on labour, it’s the growing recognition that workers need to fight back with no less a concerted effort than they’re facing from a hostile government. And the po…
Continue readingThe Progressive Economics Forum: Unrest in Bill’s Republic of Doyle
PotashCorp CEO Bill Doyle waded into Saskatchewan’s election campaign on Friday with an op-ed in the province’s two largest newspapers. It was accompanied by a paid advertisement from PotashCorp in Saskatoon’s StarPhoenix. The company got some free advertising in Regina’s Leader-Post through Bruce Johnstone’s column, which repeated Doyle’s op-ed. The Saskatchewan Party is parroting the […]
Continue readingAccidental Deliberations: Tuesday Morning Links
This and that for your Tuesday reading – with an economic fairness theme.- John Burton highlights Saskatchewan’s ownership of its own potash resources – pointed out so frequently by Brad Wall in opposing BHP Billiton’s bid for PCS – as being exactly th…
Continue readingAccidental Deliberations: On renegotiations
One of the main arguments against a potash royalty review has been the claim that the 8 years since a 2003 overhaul – in which potash prices have tripled and profits soared – is too short a time frame to consider changes to the royalty system. So let’s…
Continue readingAccidental Deliberations: On complexities
Bruce Johnstone makes about the best case one possibly can for the Sask Party’s refusal to review potash royalties. But it necessarily misses a rather important point.After all, there’s absolutely no basis to consider the current royalty structure as a…
Continue readingAccidental Deliberations: Saturday Morning Links
Assorted content for your weekend reading.- Abacus’ Canadian polling on the Occupy protests suggests that there’s loads of public sympathy for the view that there’s a need for change in how wealth and power is distributed – with the main concern being …
Continue reading