Alberta Liberal Leader David Khan issues the following release on the announcement today of a “letter of intent” for a proposed $2 billion bitumen upgrading facility.
Khan stated, “Alberta taxpayers should not have to pay to create jobs for themselves and boost our economy. Every single Albertan is now on the hook for $110 per person with the $440 million loan guarantee by the NDP Government for this project. Even worse, the project needs additional private sector financing which has still not been secured by the operating company. The company admits the project won’t be finally approved until the end of 2019 or early 2020 - if at all. The benefits of this project are entirely speculative today.”
Khan added, “If the NDP Government has an extra $440 million to spend, then Alberta Liberals have some suggestions. We would use it to pay down the massive provincial deficit, end overcrowded classrooms or invest in more mental health supports. That will help all Albertans today. We can’t afford to wait for a year or more for a project that may never get off the ground.
“Alberta Liberals believe Government should not be in the business of private business. The NDP should leave this project to the experts - the private sector.
“The company admits this project is at the exploratory stage until it raises more private sector money. Albertans will have to hold their breath until those dollars show up and are committed to the project. Albertans need jobs. Albertans don’t need another pie in the sky project.
“The NDP Government is gambling with taxpayers dollars to shamelessly promote its chances for re-election. Albertans will not allow their votes to be bought with their own money. The NDP Government should not be playing the part of an investor in a political theatre stage show.”