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Friday, August 27, 2010 

All Of A Sudden Right Wing Premier Brad Wall Begins To See The Flaw In The Ideology Of 'Unfettered Free Markets'!

When a younger Brad Wall worked as a ministerial assistant during the corrupt Grand Devine Conservative administration, he bought into all of the right wing ideology concerning 'privatization' of Crown Corporations. He therefore got in line and cheered Devine's sale of the Potash Corporation of Saskatchewan (PCS) into private hands.

But what is this? ... Now that a major international mining company is looking at buying PCS, Wall is starting to see the wisdom in some local control. In fact, rumours are afloat that Premier Wall is considering Legislation to 'fetter' the so-called 'free market' options of BHP, the multi-national that is interested in purchasing PCS!

Will Right Wingers EVER learn??

"“Government potash tax revenues typically rise more from price, rather than volume increases,” BMO Nesbitt Burns fertilizer analyst Joel Jackson said.

For the province, the concern is that if BHP overproduces, “that could have a detrimental effect on price,” Saskatchewan Energy Minister Bill Boyd said in an interview this week.

BHP says its acquisition of Potash would bring economic benefits and has promised to comply with a Saskatchewan law requiring the company’s head office to remain in the province. Canada’s federal government said it is reviewing the takeover to assess its benefits for the country.

Mr. Boyd said BHP officials told his government this week that the company hasn’t yet made an official decision on whether to pull out of Canpotex. BHP said in regulatory filings on Friday that it plans to work toward an agreement with Canpotex members that “ultimately permits BHP Billiton to market its potash independently.”

Globe & Mail

Progressive Bloggers

-Saskatchewan people must be heard before any approval of PotashCorp takeover ...

-Accidental Deliberations has more ...

I think little Brad has little choice here. He has to ensure that control of one of our key resources remains in the hands of the people of Saskatchewan. If he doesn't he will be recorded in history as the premier who let it happen. That wouldn't play very well even in his rural strongholds.

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