Albert Premier Ed Steimach, Photograph by: Mikael Kjellstrom, Calgary Herald

Alberta royalty review

Edmonton Alberta, Sunday, September 23, 2007, by : William Dascavich

After riding the gravy train in Alberta for decades, the international petroleum industry could hardly be expected to jump up and down with joy at the prospect of having to pay higher royalty rates. The reaction of the industry has been typical. Their claim that higher royalties would adversely affect the investment climate in Alberta and result in dire economic consequences is a ploy to influence the provincial government’s reaction to the report of the royalty review panel. Oil royalties in Alberta have been below global standards for far too long. The recommendations of the royalty review panel will not recoup past losses, but would simply bring Alberta royalties in line with global standards. Premier Ed Stelmach would be well advised not to allow himself be intimidated, and to take the advice of the panel seriously. In doing so he would be placing the well being of ordinary Albertans ahead of excess profits for the international oil corporations.

William Dascavich

References:

Associated Press, Canadian panel calls for major hike in alberta's oil sands royalties (pdf) September 18, 2007 , International Herald Tribune

McKinnon, Ian, Alberta Panel recommends higher oil, gas royalties (update 3) (pdf) September 19, 2007, Bloomberg

Seskus, Tony and Schmidt, Lisa, Tories to hear review gripes (pdf) September 21, 2007, Calgary Herald

Canadian Press, Oilpatch plans offensive against Alta royalty review report (pdf) September 23, 2007, Canadian Press

Francis, Diane, Royalty review just good business (pdf) September 22, 2007, Financial Post

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