Editor’s Notes

Canada has a choice: move now to secure oil benefits
or allow big oil to get it all and leave us looking like idiots

The $100-barrel of oil is not a spike. It represents a general rise in the price of oil. It’s causing a global shift in economic and political power. Canada has the world’s second or third largest reserve of oil, depending on who’s counting, and how. Ottawa must fulfill its mandate to govern on behalf of all Canadians by preventing Big Oil from treating our country like the global proverbial village idiot.

Public control of a natural resource is not a wild-eyed socialist fantasy. Saudi Arabia, a conservative theocracy, nationalized its oil industry. Circa 1920 a Conservative government established Ontario Hydro to rationalize the development and distribution of electric power. Alberta has sensibly moved to increase its cut of the take. Next door in Alaska, the state in September raised the annual oil dividend paid to every man, woman and child living there for a year to $1,654, an increase of $547 from last year.

The resource is finite. Let’s hope that when it’s gone, Canada won’t be standing there with a bemused slap-head grin watching money-bloated Big Oil waddle off to the bank. It’s time Ottawa took a long view of the situation and came to the obvious conclusion.

We offer an excellent up-dater on the subject by The Washington Post. Also reprinted is my thesis on True North No Gas Fridays. And then for fun we have an imagined conversation between Vladmir Putin and George W. Bush who are required to tell the truth.

Because of logistical problems True North will publish skeleton issues today and Wednesday. Followed by a muscle-and-bone edition on Friday.

Looking forward

Carl Dow
Editor and Publisher
True North Perspective