Smith reveals she wants to buy back some coal leases held by Australian speculators

Premier lifts lid on attempts to settle with Australian coal speculators -- but not Grassy Mountain and three other "advanced" projects

During her media scrum in advance of a town hall meeting in Fort Macleod June 11, the premier revealed that her government is negotiating the return of coal leases held by some Australian speculators now suing over the government’s flip-flops on mining policy.

This would explain why the cases have slipped their original court dates.

The premier’s admission that the government was wrong to issue the coal licences underscores the chaos of UCP policy making — and the price Albertans will pay for government stupidity.

Growing public opposition to allowing the four so-called “advanced projects” to proceed may presage more government reversals and big payouts to Northback Resources and the other Australian coal speculators who took advantage of Alberta’s naïve leadership.

This is going to cost the Alberta taxpayer a bundle, particularly as Smith changes policy on the fly, including her repeated assertions that mountain-top removal and open-pit mining will not be allowed.

The continuing chaos is surely welcomed by lawyers representing the Australian plaintiffs who now stand to mine the Alberta law courts for billions of dollars in taxpayer money.

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