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There is a steady run of print ink all having to do with the dwindling resources and the hardship of the oil companies. There is even a story about how good we are for allowing Encana to export our high paying jobs to Texas. In fact this devastation is spun off as being an American demand for product. All this, in advance of the Government saying they will not increase the royalties taken by Alberta.
This Government is in the business of guaranteeing profits for the energy sector. This energy sector is still turning out record breaking profits while Alberta’s cut on the royalties becomes less and less; in a constant state of reduction.
At any price, our royalties remain the lowest in the world at 20 and 25%. If we took what we are entitled to, 40% we would still the be lowest in the world and the oil stocks would still perform better than any other stock in the market.
Don’t allow these guys to BS you into thinking the Energy Companies are doing you a favor.
John Clark
cyberclark@shaw.ca
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The auditor general bounced the Conservatives on royalties saying they had not reached their stated targets of 19% royalty.
My figures were high this article was written.
We in Alberta are to the point now we are paying the resource companies for taking the product out of the ground and exporting it.
We are far below a break even scenario.
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