Thursday, December 04, 2008

Alberta looses 6 billion of royalty by mismanagement

I don't think it is a coincidence that Alberta is going to be short 6 billion dollars in oil royalty.
When these turkeys reduced the oil royalty taken by changing the funds from US dollars to Canadian dollars we lost 16% right off the top.

With today's low prices, Oil is 46.79 US per barrel Exchange is at 80 cents.
The oil companies get paid in US dollars. Alberta converts that figure to Canadian dollars to calculate the royalty, currently at 19%

Considering only the cut we took in exchange at these figures Albertans will loose
$6,489,773,000 this year. The same number Iris Evans tells us we are going to be short.

They gave it to the oil companies what in hell do they expect? We will be told projects are cut, funding is cut and layoff is they key word for control.

This is nothing short of gross mismanagement by this Government!
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