Alberta's Royalty Rise May Chill Oil Boom |
Wall Street Journal - Oct 26, 2007 |
Alberta will increase its royalties from energy companies in the western Canadian province's oil sands, a move that the industry warns could slow development of an increasingly important source of crude.
Alberta Premier Ed Stelmach said he decided to raise the total government take -- including all federal and provincial taxes and royalties -- from 47% of revenue to between 56% and 66%, depending on the price of oil. He said he wanted to be "reasonable, not greedy" while making sure that energy investment continues but that residents are fairly reimbursed for the public resources.
Read Full Article from Wall Street Journal
- Posted: 2007-10-26 10:54:10
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