Alberta increases 20% royalty rates charged to energy companies

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Energy companies will be charged 20 per cent more for the right to develop Alberta's oil and gas resources, Premier Ed Stelmach revealed in a long-awaited announcement Thursday.

2 {2 P, {  P* ~( J# jIntroducing what he called "a framework for a new century," Stelmach said oil and gas companies will be paying $1.4 billion more a year in royalties starting in 2009.
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1 ]; ?* u5 {; ~& _That figure is 25 per cent less than the $2 billion recommended by a government-appointed panel that reviewed the royalty formula, which had not changed since 1992.
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6 N' L) c: P# i. d& u2 I0 AStelmach rejected about half of the panel's recommendations, including a new tax on oilsands production.

However, royalties will increase for conventional oil, natural gas and oilsands projects, with Stelmach promising a simpler framework that reflects fluctuations in market prices.

"We recognize energy is a volatile industry. There is risk and there is reward. So when oil prices go up, the royalty goes up," Stelmach said in a news conference in Calgary.
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[ 本帖最后由 对酒当歌 于 2007-10-25 16:31 编辑 ]

鱼儿

Will the oil price go up after the royalty rates have been increased?