Friday, October 01, 2010

Province to forgo $3 billion in royalties: report

There is a huge test going on at Syncrude's Mildred Lake, the largest of the settling ponds. One big puddle out of 100,000 or more puddles to be worked before the century is out.

This clean up test is made up of the largest centrifuges in Alberta. They are hooked to giant conveyor belts which collect and drop the residue into separate bins to be annualized.

This is an exercise to gauge the technology with a view to putting it into a larger scale operation. If a good cleanup is devised it will take 50 years or more for it to be competed, if it ever is.

This is totally paid for by the Alberta Government, the taxpayer. Multi millions of dollars (billions) of which Syncrude pays zilch.  Now consider the billions in new roads to new production sites and new power lines to new production sites paid for by the taxpayer, you will have no doubt that we are being hooped by this Government.

When you couple things like this with the Governments new 5% Canadian dollar royalty rate on Conventional oil it will be apparent we are paying the resource companies to take it from the province!

By comparison, Saskatchewan and BC both collect 30% US dollars in royalty.
At the time of this edit, Alberta royalty on provincial resources is now zero!  Billions given up every year because of party politic.

If you want to change any of this you will have to vote something other than conservative and WRP!
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