Friday, November 21, 2008

Alberta Royalty - A brief comparison.

Excerpt from a CBC discussion.
The royalty agreements have been changed as is the Governments right to change them. In every case they have been changed to the advantage of the oil companies.

This "new deal" is no different. The new regime takes the royalty from the discounted 19% back up to 25% which was the original agreement. In the interim the oil companies have pocketed an additional 10 billions of dollars! Alberta, ready to curtail programs, is short that same amount.

The biggest give away, the change in currency from US to Canadian is massive amounting millions per day going into oil coffers that should ritely be in Alberta pockets.

BC's royalty rate is 34% so it is safe to assume that these oil companies are not running for lower royalty.

It is to be noted people on both sides of the royalty issue are saying that the Alberta Conservatives are basically inept and should be replaced.
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