Statoil Company In Canada Essay

1048 words - 4 pages

Canada has lowered its overall taxes since the 1990’s from thirty six percent to thirty one percent placing them in the lower one-third section of the Organization for Economic Co-ooperative and Development convention. This means Canada has the means to become a very strong, independent and stabilized country but we do not intend to do so.
The thing that is scary is that not even the government tries to take in money to benefit themselves and not our nation. The government of Canada could easily make companies pay them plenty of money but chooses not to, which puzzles most people. The profits that the government makes off of oil are so miniscule. The Alberta Heritage Trust Fund was created with three objectives in mind, “To save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans.”
(http://www.finance.alberta.ca/business/ahstf/history.html)
This trust fund is a great idea since it had a large steady income coming in from non-renewable resources. It helped not only Albertans but the nation as well by being able to lend other provinces money and providing health care services, parks, libraries and other public needed services. “In 1987, the transfer of natural resource royalty revenues to the Fund were stopped.” This meant that the fund no longer received income from oil revenue. The government was no longer able to use this fund for economic development or social investment. It focused on using the money for long-term investments but since the 1990’s no one has seen the advantages of these “investments” and only a stingy sixteen billion dollars has been pulled in which is insignificant compared to profits raked in by the big oil companies. Since Alberta no longer touches the trust fund it averages losing eleven million dollars a day making them very much in debt. So in a nutshell the oil industry used to widely benefit us as nation but now it does not help us out like it used to.
The issues with oil nowadays are it does not help us grow and develop as a nation, but rather break and disintegrate us. Canada’s natural resources benefit foreigners and not us as a nation, the fumes produced get released and it changes the environment around us. Foreign workers for foreign companies are actually taking the jobs that are so called being “produced for Canadians”. These issues are what make citizens question what the government is doing with their jobs, the nations resources and our lives.
Norway’s economy on the other hand is not as gloomy as Canada’s. The Norwegian economy is a developed mixed society with state-ownership in strategic areas of the economy.
“Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. Shipping has long been a support of Norway's export sector, but much of Norway's economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric...

Find Another Essay On Statoil Company in Canada

Decreasing Racism in Canada Essay

1265 words - 5 pages Do you think Canada is still racist country? In my opinion, I definitely support the fact that Canada is not a racist country anymore. It has changed significantly since its birth; it was once a child, however, it has now grown up and is a role model for other countries. Rewinding back to the early and mid 1900, Canada was known as a racist country; however after WWII, it started to reduce the racism, sexism, and hatred against non-white Races

Hydrogen Fuel Cell Essay

4711 words - 19 pages the carbon dioxide produced by the reformation. By capturing the CO2 produced by the reformer and pumping it back into the ground, the CO2 could be kept from entering the atmosphere and contributing to the greenhouse effect.31 While pumping CO2 into the ground may sound fanciful, it is currently being done in at least one location. Since 1996, the Norwegian state-owned oil and gas company, Statoil has been disposing up to a million metric tons of

The Bank of Canada

1619 words - 6 pages The Bank of Canada is Canada’s central bank, whose current Governor is Mike Carney. It was founded in 1934 by the Bank of Canada Act of the same year. The country’s banking system was quite stable even before the Bank of Canada was established, mainly thanks to its branch banking structure, and showed little interest in central banking in the early 1900s. In addition, the banking system was somewhat being regulated by the Canadians Bankers

Target Canada: The Effect of Organizational Change

2335 words - 9 pages Target, a high-end discount department store, hoped to continue expanding and adding to the company’s 1,752 stores, by purchasing 200 Zellers stores, located in Canada. One of Target’s, longtime goals was to expand into Canada , and after a decade, the company took a jump across the border (Shaw, 2011). Because many thousand Canadians hold a Red Card, Target’s reward card, Target assumed this would be a successful expansion, increasing the

Founding Father of Canada: Sir John A. Macdonald

2232 words - 9 pages citizens are assimilated into the mainstream American culture. As can be seen, Sir John A. Macdonald contributed to Canadian history in a significant way as his action of buying the Hudson’s Bay Company has had a positive impact on Canada; it has helped promote immigration, which has helped to define the cultures and traditions of Canada. Moreover, this has helped gain international respect for Canada. Legacy "It is regrettable that in Canada

The Oil Reserves of Royal Dutch Shell: How Royal Dutch Shell has accounted for their oil reserves as a practise of looking for grey areas in Financial Accounting.

2098 words - 8 pages capped by limited supply versus potential market demand - investors have to take into account how long resources to generate future earnings will last in calculating their expected return. Thus, the stock price of an energy company is intimately tied to the amount of oil or gas reserves it claims. Shell's stock prize fell about 12%. Almost all of 2004 went by before the stock recovered, the trust for Shell being of course low.Main factors that drives

How Canada’s Three Major Exports Have Contributed to Canada’s Economy

1730 words - 7 pages major way that Canada’s three main exports have supplied Canadian jobs are companies like Suncor. Suncor is a Canadian company that deals with mining and selling oil sands and other minerals. It has over 13 000 Canadian employees, making it one of the largest employers in Canada (Suncor). Many of the products mined by Suncor are sent to other countries via exporting as Canada is over-supplied with many of these products. Now picture how this

Financing the War in Afghanistan

2475 words - 10 pages expenditures in supporting Canadian troops stationed in Afghanistan and their support towards the Afghan National Military, it is anticipated how these military contributions help relieve both the Canadian and Afghan economy. Furthermore, by observing the funds conveyed by the Canadian government towards infrastructural projects, it will render how Canada financing these projects makes a better out of both Canada and Afghan economies. But, there are some

The kashagan oil field

3944 words - 16 pages barrels of crude. "Today I can tell you that this is the largest recently discovered field in the world," Nazarbayev says. 7. December 2000: OKIOC members argue over which company will become operator of Kashagan. 8. February 2001: Partners finally agree to give Eni operatorship of Kashagan, agreeing to begin commercial output by the end of 2005. 9. June 2001: BP and Statoil announce they want to leave the project, and Total agrees to buy BP's 9.5

Team paper on Kudlers assignment

1197 words - 5 pages . Movement into the market will take place as soon as they get the appropriate documents signed and in place.Market growthKudler Fine Foods has a few ideas to grow their company over the next five years. For one, they would like to start a catering service. They would like to open a few stores over the next five years in Carlsbad, CA, San Francisco, and Canada. They are also looking to expand their current selection like offering coffee and tea

Did Canada play a signifcant role in World War 2

1003 words - 4 pages Name: Ahmed Mehboob Teacher: Mr. MelvilleWorld War II began on September 1st, 1939 as German troops, under the command of Adolf Hitler, poured into Poland without a declaration of war. On September 10th, 1939, Canada declared war on Germany, shortly after Britain, France, Australia and New Zealand declared war. Over the course of World War II Canada played a very significant role, for instance, Canada supported the war time efforts in Europe

Similar Essays

Statoil Company In Norway Essay

1333 words - 5 pages test lab for technology development.” (http://www.statoil.com/en/About/History/Pages/default3.aspx) Statoil has fifty-six field operations in the North Sea and fields in thirty-three other countries including Canada, the United States of America, Venezuela, Saudi Arabia and Iran, which are some of the largest oil reserves in the world. The Norwegian State (Ministry of Petroleum and Energy) owns sixty-seven percent of the company making them the

Norway Oil Success Essay

2291 words - 10 pages Norwegian government. Oil has contributed to the country’s enormous GDP, sitting at just under $500-billion US, in 2012 (Trading Economics, 2013). This attracts countries like Tanzania and Canada, among many others, who are attempting to adopt similar policies to emulate the same success (Hsieh, 2012; “Tanzania; Emulate Norway”, 2012). This comes as no surprise. Information from Statoil (2014), one of the largest oil extracting companies in Norway

Burying The Problem: Is Carbon Capture And Storage A Silver Bullet?

3150 words - 13 pages infrastructure.There are several problems with post-combustion CO2 capture though. It uses a lot of energy, meaning plants would need to up to 50% bigger in order to have the same output (McKinsey & Company, 2008). The first CO2 capture plant with amine absorption is expected to be in operation around 2015, at which time it is estimate that ten percent of the energy will be consumed in the CCS process (Bellona Foundation, n.d.).This energy loss means

A Critical Appraisal Of The Determinants Of Global Integration

1674 words - 7 pages filling station owned by an American multinational company. The diesel could have been made from Oil pumped out of a well off the coast of Iran by an Italian oil company that transported it to Ireland in a ship owned by a Spanish shipping line and so forth. This scenario depicts the present integrated world of today in the developed nations.ObjectiveThis paper will ultimately seek to identify and find fault with the various determinants of global