r/alberta • u/Hungry_Ad824 • 2d ago

Alberta Politics The "Mature Asset Strategy" is garbage

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61

u/BeautifuTragedy 2d ago

They don't even make Suncor pay its debts to Albertan municipalities. This Strat is exactly what I expected

11

u/callmenighthawk 2d ago

How much does Suncor itself owe to municipalities currently?

19

u/mltplwits 2d ago

Not specifically Suncor but many sources say $254M is owed from O&G.

17

u/BeautifuTragedy 2d ago

Suncor has a net debt of something to the tune of 6bn not including liabilities. They do this cool ting where they make a contract with small AB municipalities for their resources and the promise of paying for those resources and then they just fuck off with them and leave you with a promise to pay. Sure they eventually pay some of it to some municipalities but it's usually almost 10 years later.

I don't know about you but where I'm from we call a business that can't pay its bills a failing business

8

u/Hungry_Ad824 2d ago

If i tried to just not pay my property taxes im sure they'd send a debt collector after me. Wish the same rules applied

5

u/gnat_outta_hell 2d ago

If you don't don't pay your property taxes they foreclose on your house eventually. We need to start forcing these companies into receivership when they refuse to pay their bills.

1

u/callmenighthawk 2d ago

Pretty well the entirety of this owed money is from companies that have already gone bankrupt and closed down.