Alberta should save energy royalties
Posted May 7, 2011 10:47 am.
This article is more than 5 years old.
The 12-member Premier’s Council for Economic Strategy has released a report calling for the Alberta government to stop using energy royalty revenues on day-to-day expenses and start saving and reinvesting the cash.
Chaired by former federal Tory cabinet minister David Emerson, the council recommends creating a fund to support the creation of technology companies, economic diversification and projects for the public like high-speed rail.
University of Calgary Economist, Dr. Frank Atkins tells the Calgary Herald the idea is quite obvious, adding: “We shouldn’t be using oil and gas revenues to pay for our day-to-day bills.”
But Atkins also doesn’t want the government trying to launch new business ventures, saying taxpayer money shouldn’t be competing with the private sector.
Premier Ed Stelmach says part of the plan would be creating an Alberta Institute for Advanced Technology, based on the model at M-I-T in the United States.
