The wheels have been set in motion to build western Canada’s first nuclear power plant. Bruce Power Alberta bought the assets of Energy Alberta Corporation and filed an application with the federal government to build a nuclear power plant earlier this year. On the same day, Bruce Power Alberta also filed an application with the Canadian Nuclear Safety Commission to prepare a site for the construction of this nuclear power plant. The proposed plant would be built on private land next to Lac Cardinal Lake, about 30 kilometres west of Peace River and about 480 kilometres northwest of Edmonton
Bruce Power Alberta is planning to build up to four reactors that could produce 4,000 megawatts of electricity. Proponents say this could generate enough “carbon-free” electricity to supply up to two million homes with power.
Opponents point to a severe risk of radioactive contamination of the Grimshaw Aquifer, the Peace River water system, and rich agricultural land of the region. Residents have serious concerns about human and animal health, and foresee problems with long term storage of nuclear waste.
Speaker: Adele Boucher Rymhs
Adele Boucher Rymhs is a former teacher and businesswoman, and was a partner in farming and bison ranching for many years. She served on the Executive of the Peace River Board of Trade, was President of Peace Country Bison Association, and on the local Museum Board.
Boucher Rymhs ran for election as the NDP candidate in Peace River in the recent federal election. Her platform strongly supported concerns for the environment and sustainable alternatives to nuclear power. Adele was also a candidate in the March 2008 provincial election, carrying the Nuclear Free banner.
Adele Boucher Rymhs serves as Secretary of “Citizens Against Nuclear Development” (CAND), a group of over 250 residents near the proposed nuclear site at Grimshaw, AB. She is also V.P. of “Nuclear Free Alberta” and a member of the Peace River Environmental Society.
Today the University of Lethbridge officially announces the recipient of the AHFMR Polaris Research Prize. A $10 million dollar government grant with $10 million of matching funding is an award unlike any other research based award in North America. The prestige of our school attaining this grant along with amazing scientist who has received it is outstanding. Dr. McNaughton has already begin work at the Canadian Center for Behavioral Neuroscience and his past work speaks for itself and the work he will be doing at our institution.
The Globe and Mail has a great article on Dr. Bruce McNaughton, his achievements and what he will be doing here at the UofL,check it out HERE.
ULSU Referendum Question:
Effective September 2009, do you, authorize the University of Lethbridge Students’ Union to implement an increase in the annual fees it collects for Operations, to result in the following change:
Full Time Students
From: $42.54/year ($21.27/semester)
To: $47.44/year ($23.72/semester)
Part Time Students-
From: $20.86/year ($10.43/semester)
To: $23.08/year ($11.54/semester)
AND;
Do you further authorize the University of Lethbridge Students’ Union to subsequently tie the annual student fees it collects on the basis of the Consumer Price Index for the Province of Alberta, as determined by Statistics Canada, using 2008 as the base year for calculation, in order to account for annual inflation?
This question is one that you will be asked on October 20-22, 2008. It is one that significantly affects the future of your Students’ Union.
Authors Note: This is a one time fee increase of $2.45 for full time students NOT $47.44 for full time students.
Yesterday, the Canadian election saw the lowest voter turnout in Canada’s history.
59% of Canadians went to the polls yesterday to cast their ballot for who they believed was best fit to lead our country.
Newfoundland/Labrador, NWT, Nunavut and Alberta led the country with the four lowest turnouts from all provinces, according to the CBC as of 11:44 this morning.
As I moan and sit here incredibly disappointed, I ponder on the factors that come into play here.
Yesterday while running after students and confronting them on their apathy towards our democratic system, the most common answer I heard was that they felt no one represented them and that it didn’t matter which party got elected. It wasn’t because of inconvenience or because they just didn’t care, it was the lack of engagement towards all Canadians. In fact, many students I spoke to said they were simply going to spoil their ballot.
I personally cannot be content with the status quo of this country, and I feel that this voter turn out is a call to all politicians in all parties and to Elections Canada to make politics relevant. Parties, get it together. All of you are disappointing Canadians and the silence in our democratic process is deafening.
As you have probably heard, Elections Canada has changed their mind about having the on-campus polling station open to all students. Now, if you are like one of the many people of the Facebook group that is absolutely disgusted by this move, I hear you loud and clear. For an organization that says they WANT to get students out voting, Elections Canada just took two massive steps backwards.
So what am I going to do about it? Just what Mr. Mercer said, vote out of spite.
I’m well aware the system doesn’t give a crap about me as a student voter. I’m aware that the PSE portion of most platforms is lip service. I’m aware that Elections Canada caters to other voter groups, such as mobile polling stations for the elderly. I’m aware the technology is available to allow people to vote at any station within their riding. I remember when I was told by a member of Elections Canada that it is “too much paperwork and time” to get polling stations on campus.
But I’m going to vote anyways.
I’m going to show that I don’t care if you make it more difficult for me to vote. I’m going to show that, at least for my part, that the youth of today is not a bunch of apathetic whiners that couldn’t care less about the democratic process. I’m going to show that I care about this great country of ours, and the sacrifices people have made for me to have this right.
In spite of their groundbreaking announcement of an on-campus polling station open to all students on Tuesday, October 7, Elections Canada has rescinded their previous pledge to ensure student accessibility to the democratic process.
Elections Canada will have a polling station on campus October 14 for residence students only.
“Despite multiple confirmations of the recent announcement, Elections Canada has gone back on their assurances that all students will be able to vote on campus,” says Adam Vossepoel, ULSU president.“We feel incredibly let down by our electoral system and their commitment to democracy.”
“We are disappointed, but the ULSU has full intentions to work with Elections Canada in the future to take the next step to increase accessibility for student voters,” says Vossepoel.
Thank you Elections Canada for destroying my faith in the electoral system.
Tuition in Alberta continues to rise
Average Alberta university student to pay $239 more
Edmonton, AB – Statistics Canada reported today that university tuition continues to rise in Canada, with Alberta coming in near the top of the pack. Nationally tuition rose 3.6% this year to $4,724 but Alberta experienced a 4.7% increase to $5,361.
“It is disappointing to see tuition go up in Alberta while other provinces are working on freezing or even lowering tuition,” said Beverly Eastham, University of Alberta Students’ Union VP External and chair of the Council of Alberta University Students (CAUS).
Average undergraduate tuition fees for full-time students 2007/08 2008/09 change
Nova Scotia $6,110 $5,932 -2.9
Ontario $5,388 $5,643 4.7%
New Brunswick $5,590 $5,590 0.0%
Alberta $5,122 $5,361 4.7%
British Columbia $4,922 $5,040 2.4%
Saskatchewan $5,015 $5,015 0.0%
Canada avg. $4,558 $4,724 3.6%
Prince Edward Island $4,440 $4,530 2.0%
Manitoba $3,271 $3,276 0.2%
Newfoundland $2,632 $2,632 0.0%
Quebec $2,056 $2,167 5.4%
Students recently proposed that in the next provincial budget the Government of Alberta fully fund a rollback on tuition for 2009/10. “Tuition is too high in Alberta, and now is the time to take action and lower it,” said Eastham.
The Council of Alberta University Students (CAUS) represents the interests of students at the University of Alberta, the University of Calgary and the University of Lethbridge.
For more information contact:
Beverly Eastham CAUS Chair
tel: 780-492-4236
cell: 780-237-1707
Duncan Wojtaszek CAUS Executive Director
tel: 780-437-4531
cell: 780-297-4531
While debate over the Paulson bailout package dominated the headlines, the US Congress quietly passed a landmark $615 billion defense spending bill. One of the few people to comment on the measure was Chalmers Johnson, in his article “We have the money.” Chalmers explains to Real News Network’s Senior Editor Paul Jay how the military-industrial complex is a driving force behind the current financial crisis and a determinant of much of what happens in Washington. He also criticizes the omission of the military-industrial complex from the political discourse determined by the two major parties and the media.
Now, maybe I see things different because I’m a finance major, but here’s how I look at it:
Canada’s entire GDP in 2006: $1.178 trillion
Wall Street Bailout + This US Military spending package: $1.312 trillion
I don’t know what the last few years military spending has been for the US, but I’ve seen reports ranging from the low 400’s to high 500’s. Nevertheless, the broadcast labels it as unprecedented, so to me that means it’s a pretty significant increase.
To quote a friend of mine, Jonah Levine, “Welcome to the end of the American empire folks!”
After a 263-171 vote by the House of Representatives on Friday, President Bush signed legislation aimed at rescuing the freezing credit markets in an effort to shore up the failing economy. That means that American taxpayers are now the proud owners of a $700 billion bailout! Yes, that’s not a typo, it is in BILLIONS of dollars.
I didnt know that kind of money even existed now!
The sad part is, it’s a bit (read: a lot) bigger than $700 billion. The version of the bill that passed Friday contains some expensive add-ons. It also raises the US debt ceiling to over $11 trillion.
There are some pretty dubious additions as well. Protecting production of wooden arrows? Really?
How does it work?
The bailout plan gives the US Treasury extremely broad authority to buy up to $700 billion in troubled assets (such as those mortgage-backed securities, you know, the ones that really have a chance at turning around) from companies that are having difficulty selling them. Uncle Sam can also insure these assets instead of buying them, you know, for fun.
The main idea is to get these securities off companies’ books, or at least give them a government guarantee, so that these businesses can more easily lend and borrow again. This makes it easier for involved businesses to help pay their $100 million executive settlements. We all know they really deserve it.
Only assets that were originated on or before March 14, 2008, are eligible. The Treasury has through 2009 to use the funds.
Once the bill becomes law, the Treasury will hire a team of consultants and managers to help the government figure out what to buy, hence the high “administrative” costs discussed later. This group will also assist the Treasury in determining how to price the assets, which are now tough to value (~$0). The most likely scenario is an auction. The Treasury could sell the securities for a profit (haha) at a later date.
If there is a net loss, in 2013, the president will have to come up with a report to recoup the shortfall–however, only an act of Congress can put that plan in place.
Accountability?
The Treasury secretary would periodically submit to Congress a detailed report of the bailout’s progress, including all financial transactions and the “types of parties involved.” In addition, every quarter, a special inspector general would provide Congress with a report including all purchases made and income received from the bailout.
Figure 1: Special Inspector
How much will it cost?
The initial addition to the federal debt would be $700 billion, although the Congressional Budget Office believes the net budget loss will be “substantially smaller” because the government can recoup some of its losses and perhaps sell the securities for a profit later (yes, this still includes those really awesome same mortgage-backed securities).
Oh, and there are also administrative costs (of course), which the CBO currently estimates at perhaps “a few billion dollars per year.” Peanuts, really….
Adding to this, the newly added tax provisions of the bill alone will cost the government an additional $110.4 billion by 2018, according to a just-released study by Congress’ Joint Committee on Taxation. The funny thing? Only $3.4 billion of that is related to the “bailout” portion of the bill.
What happens to the companies that participate?
They will have to give the government the ability to acquire shares and executives at the companies will be subject to more restrictive compensation rules. There is the possible stigma of participating, since it may make them appear to be weak. But if everybody does it.
What’s the best-case scenario?
That credit markets start functioning properly again, and the government can turn a profit on the sale of the assets it buys.
Figure 2: Where the best case scenario will take place
That doesn’t mean the U.S. economy will become healthy again overnight, however. Stephen Auth, chief investment officer for Federated Investors, says to expect more bad economic news for at least the next couple of quarters, including unemployment levels at 7% or higher. “This is going to throw up a breakwater and keep it from swamping the whole system,” he says of the bailout.
What’s the worst case?
It simply doesn’t work. Credit markets remain gummed up, borrowing and lending for consumers and businesses of all sizes come to a halt and banks continue to fail. That could lead to a prolonged recession.
There’s also the possibility that the expansion of insurance caps on bank deposits won’t do much to help small businesses, which typically need to insure more than $250,000.
In addition, if the government can’t make any money from the purchase of these assets, it saddles Americans with more debt and higher interest rates, perhaps for years to come.
Is there a Plan B?
No. I mean, if they are spending $700 billion +, it should be almost guaranteed to be successful, right?
/end sarcasm
But realistically, now that Congress has passed a bailout package, it will almost certainly not give the administration any more money to rescue the economy.
I hope this cheery guide helps you understand the clusterfcuk that is going on down there, since it DOES have a pretty significant impact on us as Canadians.
As always, feel free to e-mail me su.academic@uleth.ca or phone me at 403 329 2770 if there are any questions about my report or if you are interested in getting involved with the ULSU!
