Gordon,

It was a great game despite the field conditions. I was at the 1977 Grey Cup when the Als (originals) used the staples to win that game. As a Montreal fan, that was a great game too < s >. 1979 wasn't as good.

But the real reason that I write is concerning your (Alberta's) concern on the economic impact of Kyoto on the petroleum industry there.

You've said that it will have huge impact on that industry.
It occurred to me that Alberta has essentially NO CONTROL of pricing anyway when it comes to oils and gas - the "world market" sets the price.
Now Alberta's biggest market is the U.S.A., then Canada, and there's now way that either can do without Alberta's product.

Alberta has always benefitted when the price went up and was always hurt when the price went down, and this will continue so with or without Kyoto.

Now if current plans to invade Iraq materialize, and if the developing arguments to do the same to Saudi Arabia ever take hold (and we can see that it surely will) then I would guess that the price of oil would go down.
BUT... with the U.S. doing this solely for the benefit of the oil business, you can be SURE that those business owners will not let that last for long. As with any other business, they will very soon go for higher prices.
This will be exactly as what happened when the big U.S. oil companies "consolidated". The theories of economies of scale were used to get approval for that action, but we soon learned that the real purpose was to close (now) redundant refining facilities and create shortages where once there was abundance. A fine way to drive up prices, all very legally.

So, while I don't understand the nitty-gritty of the alleged economic impact of Kyoto on Alberta (I hear lots of FUD but not much logic) I'll let it ride that there will be some. My "answer" to that is:
1) OK, costs to meet the limits may cost some profits, but that's one very positive way to marginally lower profitability. The whole world benefits.
2) It will only be very temporary, until the oil companies' 'phase 2' of the mid-east acquisitions are implemented. Then Alberta will be floating in much more money than they ever dreamed of!

How's that sound?


>Great Game! The Al's snuck by this time. ;-) Congratulations! Hope you guys had a great party.