Fair Return on our Resources
Last year, PotashCorp made $1.8 billion from our potash resource. In return, they paid just $76.5 million in royalties. The Sask Party has said they
are satisfied with this royalty structure.
The CEO of PotashCorp acknowledges that there is now a “new norm” in
terms of global demand for potash. Because of this “new norm”, there is a
growing call from various parts of the political spectrum for a review
of our potash royalty structure.
A columnist in the Leader-Post wrote: “The right royalty structure is
complicated. But the fact that PotashCorp earned $1.8 billion last year
and only paid back $76.5 million in royalties to Saskatchewan people
suggest we might not have it quite right yet” (Leader-Post, Feb 12/11).
According to Dr. Jack Mintz from the School of Public Policy at the
University of Calgary, Saskatchewan’s current system is “just wrong.”
Dr. Colin Boyd, a professor at the Edwards School of Business at the
University of Saskatchewan has questioned whether our current royalty
structure is ensuring that we are “fairly sharing” in the profits which
potash companies are making here.
Dr. Sylvain Charlebois, associate dean in the School of Management
and Economics at the University of Guelph and a former professor at the
University of Regina, says a review of our province’s royalty structure
is “dearly needed” (The StarPhoenix, Feb 17/11).
But the Sask Party government has said they will not review the royalty structure.
Questions for Candidates Running in the Provincial Election
Printable PDF of Questions for candidates
Legislative/Labour:
Essential Service legislation (Bill 5) and changes to The Trade Union Act (Bill 6) have created unfairness for all public sector workers. It took away the right to strike, and made it impossible to achieve a fair collective agreement. It took away the right to organize, and it invited employers like SAHO (Saskatchewan Association of Health Organizations) to waste thousands of tax payer dollars on media campaigns against health care workers. What are you planning to do about Bill 5 & Bill 6? (more…)
U.S. court throws out potash price-fixing lawsuit
jonathan stempel AND reuters
Globe and Mail Update
Published Friday, Sep. 23, 2011 12:32PM EDT
A U.S. federal appeals court threw out an antitrust class-action lawsuit accusing seven companies of engaging in a global conspiracy to raise the price of potash, a mineral used mainly in fertilizer. (more…)
Sask. First Nations issue call for Day of Action
By Tim Switzer, Leader-PostSeptember 21, 2011
Wanting more action out of provincial governments, First Nations in Saskatchewan are planning their own Day of Action.
“I feel like this government is treating us like we don’t belong to Saskatchewan,” Chief Glen Pratt of the George Gordon First Nation said at a news conference Tuesday.
“The cost of not working with us for a solution is going to be enormous for Saskatchewan people,” he added. “So we have an opportunity to create a respectful relationship and come together to work on issues together to deal with social issues and create a better future for all Saskatchewan people.” (more…)
A fair return for potash the most important pledge (LP)
Murray Mandryk, The Leader-Post
Published: Saturday, February 12, 2011
PotashCorp’s “pledge-to-Saskatchewan” announcement on Monday should produce a corporate commitment befitting one of the province’s largest corporations, whose providence is tied to what’s arguably our most unique resource. (more…)
Internationally Renowned Economist Challenges Regina Leader-Post Business Columnist Over Potash Numbers
Saskatchewan’s Right wing Premier, Brad Wall, has a lot of apologists for the dismal return that the province is realizing from its vast Potash reserves. For those who are new to the topic, potash is used in the creation of a highly valued agricultural fertilizer and Saskatchewan has over half the worlds supply. (more…)
Brad Wall Says ‘NO’ To Potash Royalty Review … And The Ripoff Is Worse Than You Know
In 2009, (the so-called bad year for potash) PotashCorp made a profit of $988 Million (third highest in their history) and ultimately paid NO ROYALTIES! (Note: the $29 Million initially paid to the province was later calculated as an overpayment).
-In 2010, (a good year for potash) PotashCorp made a profit of $1.8 BILLION and paid $76.8 Million in royalties to the province. (more…)
Record PotashCorp Earnings Bolster Case for Independent Royalty Review
NDP Leader Dwain Lingenfelter said record Second Quarter earnings from PotashCorp, combined with the company’s positive outyear projections, strengthens the case for an independent review of the province’s potash royalty structure. Lingenfelter said with all signs pointing to increased demand in worldwide markets and higher prices, Saskatchewan people deserve to know if they are receiving the maximum benefit from the potash resource they own. (more…)
