O’Leary promises $1M if Notley steps down

[Gone_Fishin]

Kevin O’Leary promises $1M to Canadian oil if Notley steps down

“I mean no disrespect when I say this but here’s my offer: I’ll invest $1 million in Canadian energy companies if out of grace and for the absolute good of Canada, the premier of Alberta resigns,” O’Leary said.


“Please step down, please, do it for Canadians,” begged Kevin O'Leary to Rachel Notley, speaking on Newstalk 1010’s Live Drive radio program.
MARK DAVIS / GETTY IMAGES

“Please step down, please, do it for Canadians,” begged Kevin O'Leary to Rachel Notley, speaking on Newstalk 1010’s Live Drive radio program.

By: Robin Levinson King Staff Reporter, Published on Mon Jan 11 2016

Popular finance guru Kevin O’Leary says he’ll invest $1 million in Canadian oil industries — if NDP Premier Rachel Notley resigns.

The former Dragon’s Den host was speaking on Newstalk 1010’s Live Drive radio program about the downturn in the Canadian dollar and economy, largely caused by sinking oil prices.

“I mean no disrespect when I say this but here’s my offer: I’ll invest $1 million in Canadian energy companies if out of grace and for the absolute good of Canada the premier of Alberta resigns,” O’Leary said.

“I wouldn’t touch them now because she doesn’t know what she’s doing.”

“Please step down, please, do it for Canadians,” he begged.

O’Leary attributed layoffs and the plummeting dollar on the inexperience of Notley’s government and poor policy choices, specifically, hikes in corporate tax rate and uncertainty about royalties.

“The Alberta government is in free fall, there’s total chaos there,” he said.

“It’s like a horror movie, it’s an unbelievable series of events.”

The results of a review of Alberta’s oil royalty policies have been delayed a few more weeks, stirring up angst amongst energy industry insiders who fear a hike in fees while oil continues to deflate.

Notley’s government also introduced a 2 per cent corporate tax hike this summer.

The industry is also dealing with higher fees for larger carbon emitters and is awaiting the implementation of a broad-based $3-billion a year carbon tax.

Oil has plummeted to about $30 (U.S.) a barrel from a high of $100 for West Texas Intermediate in 2014. In the process it has sucked $6 billion out of the Alberta budget this year alone and contributed to job losses in the tens of thousands.

Outside of Alberta, the unemployment rate has remained relatively stable but the Canadian loonie has fallen to 70 cents on the U.S. dollar.

Although O’Leary’s promise of $1 million isn’t exactly chump change, it should be noted that in 2014, natural resource companies invested $126 billion, about half of the total non-residential capital investments in Canada, according to Natural Resources Canada.

With files from The Canadian Press

[Urbane]

I like Kevin O'Leary. He's quite the troll too! I listen to him quite often on BNN and appreciate his perspective.

[bob vernon]

If only Alberta had have re-elected Prentice and the Conservatives, or even the Wild Rosers. All would be well, and the world price of oil would still be over $100 a barrel. All Albertans would be rich. But somehow the leftist NDP caused the price to plummet. Darn socialists, they just wreck everything.

[Atomoa]

*removed*

[d0nb]

Be careful what you ask for Kevin. Look what happened when McGuinty stepped down in your province.

[d0nb]

http://www.cbc.ca/news/canada/calgary/alberta-government-drug-funding-1.3395871

Too bad but not surpising. No one expects government bureaucrats to be competent.

Edmonton Metronews' Ryan Tumilty gave a more balanced take on the story than the typically biased one from CBC.

http://www.metronews.ca/news/edmonton/2 ... nding.html

[Gilchy]

A whole million dollars!!! That'll save the Alberta economy!

[maryjane48]

I like Kevin O'Leary. He's quite the troll too! I listen to him quite often on BNN and appreciate his perspective.

figures you would listen to a canadian version of trump

[maryjane48]

If only Alberta had have re-elected Prentice and the Conservatives, or even the Wild Rosers. All would be well, and the world price of oil would still be over $100 a barrel. All Albertans would be rich. But somehow the leftist NDP caused the price to plummet. Darn socialists, they just wreck everything.

haha its called poetic justice . the ndp winning in the rightwing zeolots backyard . hopefully oil wont even be a industry in alberta anymore .

[Rwede]

Millions of people listen to O'Leary and respect his opinion, as they can't deny how his knowledge has made him so successful, even if they don't always like his brash approach.

Most certainly, O'Leary's comments help hammer nails into the NDP's coffin, both federally and provincially, across the country.

Notley should resign, as she is responsible for wiping all factions of her party off the map in Canada, besides the damage she is doing to Alberta's families.

[fluffy]

...hopefully oil wont even be a industry in alberta anymore .

That may come some day, but not today. Or tomorrow. Fossil fuels are so deeply embedded in our way of life and our economy that to think we could shut it off overnight is about as short-sighted as it gets.

Personally, I'm finding it hard to fault the Alberta NDP on any of their moves to date. Increased environmental stewardship in the oil industry isn't a bad thing in my mind, and they are currently being pretty careful not to place an unreasonable load on a faltering industry.

[Rwede]

Personally, I'm finding it hard to fault the Alberta NDP on any of their moves to date. Increased environmental stewardship in the oil industry isn't a bad thing in my mind, and they are currently being pretty careful not to place an unreasonable load on a faltering industry.

Is that because a 20% increase in income taxes isn't "unreasonable" on companies who are already struggling to keep people employed?

Ugh.

[maple leaf]

LOL!!! 1 million to the oil industry ,in perspective ,he is really saying I'll give you 10 bucks if you step down.Nothing but O Leary shooting his mouth off.Quite amusing .

[Rwede]

Ezra's take on it.

Watch the NDPers on here trip over their quivering lower lips.

[Atomoa]

The RCMP should look into this.

Kevin is effectively trying to bribe a public official. The Canadian oil industry would be suicidal to take his money and it wouldnt hurt to distance themselves from such a lewd comment.

"I'm going to BUY a government with my million dollars - to hell with democracy" <--- this is your hero.

What a *bleep*.