Oil boom will eventually benefit all: Williams

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Oil boom will eventually benefit all: Williams Thursday, May 08, 2008
CBC News -- A cascade of oil-based revenues will, sooner or later, fall in all corners of Newfoundland and Labrador, the premier promises. "You can't do it all at once," Danny Williams told CBC News. "The demands are enormous, but we're getting there." Last week, Williams's government unveiled a budget that not only projected a surplus of $544 million, but also predicted that the province will no longer need equalization payments at some point during 2009.
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JT Moderator	Message Posted: 5/8/2008 9:48:43 AM	Ignore JT Report Abuse
	Thursday, May 08, 2008 CBC News -- A cascade of oil-based revenues will, sooner or later, fall in all corners of Newfoundland and Labrador, the premier promises. "You can't do it all at once," Danny Williams told CBC News. "The demands are enormous, but we're getting there." Last week, Williams's government unveiled a budget that not only projected a surplus of $544 million, but also predicted that the province will no longer need equalization payments at some point during 2009. Visit CBC News for full article

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nojsts Champion Author St. Louis Posts:10,267 Points:2,080,630 Joined:May 2002	Message Posted: 5/9/2008 10:55:24 AM	Ignore nojsts Report Abuse
	The only winners are big oil and a few select others.
PNF Champion Author Florida Posts:4,184 Points:704,860 Joined:May 2004	Message Posted: 5/9/2008 10:41:55 AM	Ignore PNF Report Abuse
	Yes, everyone will make more money and the prices will be higher for things and then everyone will be right where they are now, with the same money in their pocket, if not less. Everything catches up.
Kolinaa Rookie Author Michigan Posts:86 Points:18,025 Joined:Apr 2008	Message Posted: 5/9/2008 10:12:55 AM	Ignore Kolinaa Report Abuse
	All??????
esquared All-Star Author Oklahoma City Posts:674 Points:485,250 Joined:Jan 2006	Message Posted: 5/9/2008 10:07:37 AM	Ignore esquared Report Abuse
	Hope they invest their "surplus" into roads & highways and other capital improvements accessible to drivers.
RC_RACER Veteran Author Tacoma Posts:301 Points:100,300 Joined:Jun 2004	Message Posted: 5/9/2008 10:05:39 AM	Ignore RC_RACER Report Abuse
	all? like never and always. Very dangerous words. but go ahead and throw it out there, I'm sure it looks good to somebody!
boniface4jesus Rookie Author Gary Posts:20 Points:6,375 Joined:Mar 2006	Message Posted: 5/9/2008 10:03:07 AM	Ignore boniface4jesus Report Abuse
	Sounteresting. Almost like the two provinces are not interested in spreading their oil wealth with the rest of at least Canada. I could be, and probably am wrong though.
mailman79 Sophomore Author Atlanta Posts:152 Points:221,865 Joined:Jan 2005	Message Posted: 5/9/2008 9:56:57 AM	Ignore mailman79 Report Abuse
	old news
Aserdaten Veteran Author Florida Posts:336 Points:518,185 Joined:Apr 2006	Message Posted: 5/9/2008 9:48:12 AM	Ignore Aserdaten Report Abuse
	Not quite sure of what this news story is saying, but perchance it is primarily pertinent to Newfoundland & Labrador province. Comment by "Dancin" from Toronto might shed some light on the subject.
nd73 Rookie Author Grand Rapids Posts:41 Points:140,820 Joined:May 2007	Message Posted: 5/9/2008 9:47:30 AM	Ignore nd73 Report Abuse
	Wealth for all the citizens of a political entity that has drilled for oil in their own territory. Do you think their standard of living has decreased because they drilled? Do you think the moose and caribou have become extinct because they drilled? Do you think they are dependent on their sworn enemies because they drilled? Take a lesson, America!! Drill in ANWR and off-shore, and wealth can be ours, too! Or at least reasonable gas prices.
courier400 Champion Author Kansas Posts:5,848 Points:1,404,400 Joined:Mar 2004	Message Posted: 5/9/2008 9:47:20 AM	Ignore courier400 Report Abuse
	line up, take a number.
woos777 All-Star Author Washington Posts:652 Points:480,255 Joined:Sep 2006	Message Posted: 5/9/2008 9:46:36 AM	Ignore woos777 Report Abuse
	Sur it will, won't it?
Chitowner Veteran Author Omaha Posts:320 Points:96,130 Joined:Jul 2007	Message Posted: 5/9/2008 9:44:33 AM	Ignore Chitowner Report Abuse
	yeah right
mikerock Veteran Author Scranton Posts:364 Points:62,810 Joined:Jun 2006	Message Posted: 5/9/2008 9:41:30 AM	Ignore mikerock Report Abuse
	ALL?????
Dancin All-Star Author Toronto Posts:736 Points:1,031,625 Joined:Mar 2004	Message Posted: 5/9/2008 9:35:06 AM	Ignore Dancin Report Abuse
	It will benefit those who have an investment. Apart from RRSP (401k) plans, there is little cash left over for investment in stocks. It's more likely used to get to and from work (which pays the bills, almost) and for food and for lighting/heating. After that, better find a second or third job.
ESHI Rookie Author Maine Posts:80 Points:498,625 Joined:Jan 2006	Message Posted: 5/9/2008 9:33:46 AM	Ignore ESHI Report Abuse
	You better redefine the word ALL.
Gerund1 Veteran Author Toronto Posts:397 Points:735,515 Joined:Apr 2003	Message Posted: 5/9/2008 9:33:04 AM	Ignore Gerund1 Report Abuse
	Share the wealth Premier Williams.
CyanSquirrel Veteran Author Virginia Posts:252 Points:45,880 Joined:Jun 2004	Message Posted: 5/9/2008 9:32:01 AM	Ignore CyanSquirrel Report Abuse
	Bah...gaining wealth by raping the earth (and other humans' pocketbooks =) is nothing to be salivating over.
LukeIN All-Star Author Indianapolis Posts:829 Points:151,735 Joined:Nov 2007	Message Posted: 5/9/2008 9:30:08 AM	Ignore LukeIN Report Abuse
	I think this is a positive move on the goverments part!
w4kh Champion Author Riverside Posts:3,100 Points:532,390 Joined:May 2004	Message Posted: 5/9/2008 9:28:37 AM	Ignore w4kh Report Abuse
	Canada seems to have government that works for the people... we are stuck with "W" and DickieBoy and their Big Business buddies who have done their best to weaken the dollar, kill incentives, keep the price of oil high, and screw the little guy...
Brockvillian Rookie Author Ontario Posts:20 Points:194,200 Joined:May 2007	Message Posted: 5/9/2008 9:25:00 AM	Ignore Brockvillian Report Abuse
	That good news for Newfoundland and Labrador they can really use it up there.
well2 Sophomore Author New Jersey Posts:163 Points:20,530 Joined:Mar 2007	Message Posted: 5/9/2008 9:23:30 AM	Ignore well2 Report Abuse
	Silver lining.....!!!!!
CruisinLinda Champion Author Tallahassee Posts:3,769 Points:776,425 Joined:Sep 2005	Message Posted: 5/9/2008 9:22:24 AM	Ignore CruisinLinda Report Abuse
	The difference is that the U.S. with oilmen Bush and Cheney in the White House give the oil industry tax breaks, while Canada collects severence tax and other taxes. Oh, yeah, and Canada isn't borrowing about $3 billion a week on unending occupations of two countries like our borrow-and-spend administration. [Edited by: CruisinLinda at 5/9/2008 10:24:39 AM EST]
justpat Rookie Author Virginia Beach Posts:6 Points:1,620 Joined:Apr 2006	Message Posted: 5/9/2008 9:20:38 AM	Ignore justpat Report Abuse
	How is it the oil companys are making all time money
McNasties Champion Author Milwaukee Posts:3,420 Points:669,375 Joined:May 2006	Message Posted: 5/9/2008 9:19:28 AM	Ignore McNasties Report Abuse
	Canada's economy is abooot to go into the toilet too.
Japsmith All-Star Author Tacoma Posts:697 Points:146,265 Joined:Sep 2007	Message Posted: 5/9/2008 9:17:57 AM	Ignore Japsmith Report Abuse
	It does not seem to help us in the here and now paying record prices on fuel.
s6sputnik Champion Author Austin Posts:1,253 Points:256,360 Joined:Jun 2007	Message Posted: 5/9/2008 9:14:40 AM	Ignore s6sputnik Report Abuse
	But the rest suffer?????Nice!
8ballnd Rookie Author North Dakota Posts:39 Points:5,100 Joined:Feb 2008	Message Posted: 5/9/2008 9:06:31 AM	Ignore 8ballnd Report Abuse
	Bush is close to going out of office so he is on top of the high price of oil. Hoping it goes up and up and laughing to the bank. Any body hear from vp cheney lately.
Chazzer Champion Author Nevada Posts:7,160 Points:1,549,010 Joined:May 2002	Message Posted: 5/9/2008 9:03:56 AM	Ignore Chazzer Report Abuse
	I wonder when?
stevewwvu Champion Author West Virginia Posts:1,181 Points:202,690 Joined:Mar 2007	Message Posted: 5/9/2008 9:03:35 AM	Ignore stevewwvu Report Abuse
	yeah they lie to make it seem good
tomok Champion Author Portland Posts:6,125 Points:528,135 Joined:Aug 2006	Message Posted: 5/9/2008 9:03:19 AM	Ignore tomok Report Abuse
	OK but be sure to save for a rainy day..........
rjoeh All-Star Author Michigan Posts:524 Points:889,310 Joined:Jun 2004	Message Posted: 5/9/2008 9:02:36 AM	Ignore rjoeh Report Abuse
	sounds like one governmental body is taking the current economic status to heart and doing something positive about it. Good for them
kanmandoo Veteran Author Detroit Posts:415 Points:730,120 Joined:Jun 2005	Message Posted: 5/9/2008 8:58:59 AM	Ignore kanmandoo Report Abuse
	All who own stock.
PurplePuppy Rookie Author Florida Posts:63 Points:26,900 Joined:Mar 2008	Message Posted: 5/9/2008 8:56:59 AM	Ignore PurplePuppy Report Abuse
	Pigs feed, HOGS GET SLAUGHTERED
tobasco Champion Author Los Angeles Posts:2,369 Points:691,145 Joined:Mar 2004	Message Posted: 5/9/2008 8:53:54 AM	Ignore tobasco Report Abuse
	Remember this story when the market crashes. Every boom has a bust. Five years ago, real estate was going to make everyone rich and the government was loving the taxes. Now, California is facing a $20 billion deficit because Sacramento cannot control spending.
gasie1 Champion Author Maine Posts:1,056 Points:762,735 Joined:Nov 2005	Message Posted: 5/9/2008 8:53:12 AM	Ignore gasie1 Report Abuse
	This item should be mandatory reading for all members of congress. They will learn how to govern.
CdnGlassLady Veteran Author Ontario Posts:260 Points:26,900 Joined:Apr 2008	Message Posted: 5/9/2008 8:52:23 AM	Ignore CdnGlassLady Report Abuse
	You mean the province that has always needed all of those special programs and tax incentives might not .............. wowsers .......... but will they start to share with the rest of Canada or will they be like Alberta waive the provincial tax, give a rebate to everyone living in that province then turn around and ask for federal tax dollars to assist with the mad cow disaster and fallout thereof
spunky4443 Sophomore Author Washington Posts:181 Points:265,940 Joined:May 2005	Message Posted: 5/9/2008 8:50:59 AM	Ignore spunky4443 Report Abuse
	Alaska has so much Oil, that they don't know what to do with it, our People in Power, is what's hurting us.
Mooseman1 Champion Author Manitoba Posts:1,037 Points:135,635 Joined:Jul 2007	Message Posted: 5/9/2008 8:50:08 AM	Ignore Mooseman1 Report Abuse
	Excellent for Newfoundland, from rags to riches in a very short period of time. It's time they finally got a bigger piece for the pie! How the tables have turned, maybe Ontario will need equalization payments instead of Newfoundland. Imagine that...
gasman50 All-Star Author Portland Posts:547 Points:640,580 Joined:Nov 2005	Message Posted: 5/9/2008 8:49:22 AM	Ignore gasman50 Report Abuse
	Time will tell
trzeciak Rookie Author Dayton Posts:77 Points:34,005 Joined:Aug 2002	Message Posted: 5/9/2008 8:45:57 AM	Ignore trzeciak Report Abuse
	Great.
BlueBike Champion Author San Jose Posts:1,807 Points:407,025 Joined:Feb 2007	Message Posted: 5/9/2008 8:45:51 AM	Ignore BlueBike Report Abuse
	We all knew that oil was not forever and very little has been done.
doulosx Veteran Author Columbus Posts:465 Points:343,725 Joined:Sep 2005	Message Posted: 5/9/2008 8:45:32 AM	Ignore doulosx Report Abuse
	At least someone is allowed to drill. The idiots in our congress who don't have to pay for gas (or car payments for their luxury cars; we pick up the tab) keep refusing to allow our oil companies to drill for our own oil. All you liberals who keep putting these idiots in office have no right to complain about the price of gasoline.
frede2 Champion Author Texas Posts:2,755 Points:640,885 Joined:May 2005	Message Posted: 5/9/2008 8:45:01 AM	Ignore frede2 Report Abuse
	Apparently we were all worrying for nothing. I feel so much better now.
RochBear All-Star Author Minnesota Posts:849 Points:343,060 Joined:May 2006	Message Posted: 5/9/2008 8:40:24 AM	Ignore RochBear Report Abuse
	And what happens when the oil wells run dry? They have spent every penny they took in. What happens then? You can't live of the Gov't coffers, without bankrupting it.
scrounger Champion Author Vancouver Posts:5,375 Points:1,505,835 Joined:Mar 2003	Message Posted: 5/9/2008 8:37:49 AM	Ignore scrounger Report Abuse
	bout time they stopped sucking off the rest of the country
brogan56 Champion Author Colorado Springs Posts:8,571 Points:1,376,745 Joined:Mar 2004	Message Posted: 5/9/2008 8:37:39 AM	Ignore brogan56 Report Abuse
	The only boom here is when the economy falls down and goes boom.
Howmuchtofillit All-Star Author Trenton Posts:525 Points:108,605 Joined:Sep 2005	Message Posted: 5/9/2008 8:37:24 AM	Ignore Howmuchtofillit Report Abuse
	Yea, I can't wait. I will be out of work because I cannot afford to drive to my job and I will be hungry because food prices will triple and I will be living on the street because I will lose my house due to the increase of every tax. State, township, and fed.
amearly Champion Author Michigan Posts:3,040 Points:673,615 Joined:Jan 2006	Message Posted: 5/9/2008 8:36:45 AM	Ignore amearly Report Abuse
	This is only for those who has money to invest.
Magnum0829 All-Star Author Jackson Posts:575 Points:286,315 Joined:Oct 2005	Message Posted: 5/9/2008 8:31:28 AM	Ignore Magnum0829 Report Abuse
	We're saved!
BoerneWatch Champion Author San Antonio Posts:5,062 Points:639,260 Joined:Oct 2005	Message Posted: 5/9/2008 8:29:01 AM	Ignore BoerneWatch Report Abuse
	That is great news for them. But did anyone read this paragraph: "n recent days, news reports have detailed how various people — seniors needing home care, others requiring medical services, such as portable oxygen tanks — have been turned down for public aid, and found no help in the blockbuster budget." I thought socialized medicine was "better" than our system of healthcare. Are they rationing healthcare? Why call it "public aid" when it is an entitlement?