Wednesday, March 05, 2008

Alberta Royalty Benchmark

Put the crooks to the test:
The last royalty agreement made public was 25% on mature projects; 1% only during construction.

Stelmach in secret reduced the royalty to 19%. The lowest in the world by far! The 1% remains the same.

Then, he promised a 20% increase in royalty allowing oil companies to pay “part in kind” with crude. The latter to be given to the phantom up-graders.

If he is good to his word and I’m sure you will find he is not he will announce the royalty has been increased from 25% to 45%. The 45% is still at the bottom of the world in price.

If he comes out with a straight statement as in "we are going to increase" with no start or end numbers you know full well he is lying through his teeth!
Keep in mind insiders have told me it is their intention to further reduce the 19%

John Clark
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