Thursday, June 19, 2008

Alberta oil ripoff further demonstrated.

Petro-Canada signs still another deal with Libia.
The agreement with Libyan National Oil Corp. contemplates total spending of $7-billion (U.S.), with 50 per cent of all development costs to be paid by Petro-Canada, which will receive an initial 12 per cent share of production.

In Alberta Petro Canada would pay 0% for the development and receive 81% of the revenue!
Something to remember when you hear the squeals about the new, non existent royalty framework.
John Clark.
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