Thursday, October 7, 2010

NDP raises potash ownership

NDP raises potash ownership

Lingenfelter told reporters at the legislature he hears often from Saskatchewan residents that the BHP Billiton bid for PotashCorp presents a potential opportunity for the province to regain shares in the former Crown corporation.

While even a small ownership percentage would likely cost the province far too much in a direct purchase, the province could potentially alter its royalty regime to allow it to take a small ownership share in the company, he said.

He stressed he was not discussing nationalization of the company, although he did note the success of state-owned resource companies such as Norway's Statoil and Brazil's Petrobras.

I've got news for you Dwayne. Taking a percentage of the company without putting anything into it IS Nationalization, whether it's a 5% stake like Danny's done, or 100% stake like your party has done in the past. You are essentially stealing from the people who have bought shares in the company by making their shares worth less than they would be if you didn't take a stake in the company. Furthermore, I would think that you and your caucus had learned from past investments like Spudco and Millar Western Pulp Mill, not to mention successes like PCS (oops) and Cameco (SK Uranium) (both of which only had success AFTER privatization) that GOVERNMENT DOES NOT BELONG IN BUSINESS.


End of Story.

If you want to play businessman Dwayne, put your own money into starting one. Until then, keep your musings to yourself.

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