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Canadian Imperial Venture V.CQV.H


Primary Symbol: CIMVF

Canadian Imperial Venture Corp is engaged in the business of identification and evaluation of assets in Canada.


GREY:CIMVF - Post by User

Bullboard Posts
Comment by wajacon Feb 28, 2002 11:12am
407 Views
Post# 4825193

RE: Lets make it clear

RE: Lets make it clearWhat's this nonsense about debt owed to other provinces!!!! I always thought that Canada was a confederation where the economically strong helped the economically weak and that those economically weak today would perhaps be the economically strong tomorrow and would therefore in turn do their share to help the economically weak of their day. Is that what you meant Barrhead? If not I take issue with you because Federal policies have blatantly used our vast resources for the benefit of others. Do you doubt this statement? Then consider the following. 1.The federal government almost single handedly destroyed the Newfoundland & Labrador fishery by allowing foreigners and large fish companies to scrape every last fish from the ocean bottom to satisfy their needs. This was done through various bilateral agreements and the inability or refusal of the Federal Government to take action on overfishing. For example they gave the Japanese 65,000 tons of codfish over and above their already too high quotas to get a Honda plant in Cambridge and a Toyota plant in Alliston, Ontario. The money given to our fisherpersons during the Moratorium is equivalent to crumbs compared to the benefits others have received from our fishery. If the Federal Government had managed the fishery for the benefit of Newfoundlanders and Labradorians there would be no shortage of cod and no need to close fish plants. 2. 88% of all the iron ore produced in Canada comes from Labrador and fuels thousands of jobs in Hamilton, Ontario.Again others receive the major benefit from our resource. This is one reason why a majority of Newfoundlanders & Labradorians insist that the major benefit from the development of Voisey's Bay must accrue to the people of this province or there will be no development. 3.The Feds will not require Quebec to allow a right of way to get power from Churchill Falls to market in the USA. Because of this other sources of hydroelectric power remain undeveloped. But when Alberta wanted to get its gas to market in Ontario and the USA, Saskatchewan and Manitoba had to allow a right of way. If that right were granted to this province it would mean an extra 600,000,000 in revenue a year! That's not pocket change for a province with a small population. 4.This province gets less than 1% of the price of a barrel of oil in royalties from Hibernia.That's about 30 cents per barrel and what it does get must be paid back to the Federal Government to cover transfer payments. Apparently the Terra Nova oil development will not be much better. So who's getting rich here?? 5.The CBC oil refinery, for 14 years, was not allowed to sell its oil in the rest of Canada because this would have a negative impact on refineries elsewhere in Eastern Canada. This was a condition that Petro Canada[our oil company!!]imposed. The Canadian Competition Bureau recently examined this situation and determined that a lessening of competition had occurred and ordered that the situation be addressed. This Province has ample resources, creative, hard working and intelligent people. So what's the problem? Why aren't we rolling in riches over here? The problem is that there is not a level playing field and the centralist policies of the Federal Government which are designed to cater to the needs of central Canada where the majority of voters live. Many of these points have been made by others on this board but I thought it was important to state them again. As Newfoundlanders and Labradorians I believe it is our duty to dispel the ignorance that exists about us. Barrhead, you seem like a decent type. Perhaps the points I have mentioned will help you attain a greater understanding of Newfoundland and Labrador. Best wishes!
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