Now that we have had time for things to sink in what is your reaction to the election of an NDP majority? Is it the shock of the initial results or are you hopeful that some good may come in the next four years?
A wave of shock and disappointment ensued over the Alberta oil community when this largely producing province learned that there was a new government with a majority of the New Democratic Party (NDP) whose ideological intentions seem to set aside any investment in development And maintenance of energy sources.
Another factor that militates against creating a climate of trust over this new political majority represented by the NDP is that there are no connections or public relations formed between this political faction and the business faction that represents oil exploration and production.
In that sense, the financial sector began to make its plays and decided to withdraw its oil actions that are affected in Alberta; it is expected to follow this behavior while Rachel Notley notifies its plans about the administration of royalties, taxes, and investment in this sector.
Jeremy McCrea, director of institutional research at AltaCorp, said: “Notley needs to appreciate the investor community, needs some clarity, and for longer, there is no clarity, it will be worse.”