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Alberta to announce oil royalty changes

CBC News -- The Alberta government was poised to announce changes to its controversial oil and gas royalty rules Thursday in what was widely expected to be a major backtracking from its decision to boost its take from the industry in October 2007.

Premier Ed Stelmach and Energy Minister Ron Liepert have scheduled a news conference in Calgary at 3 p.m. local time.

Stelmach won re-election in 2008 with the largest majority in the province's history while promising the royalty increases. His stand was popular with some voters who felt the industry should do more to share the costs of coping with soaring growth, inflation, and labour shortages brought on by rising prices for oil and gas.

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Submitted Mar 11, 2010 By: sphere68

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cpl11787 All-Star Author Minnesota Posts:630 Points:123,275 Joined:Jan 2010	Message Posted: Mar 12, 2010 3:41:28 PM Ignore cpl11787 Report Abuse good story.
Bruno44 Champion Author Texas Posts:4,851 Points:1,323,975 Joined:Sep 2007	Message Posted: Mar 11, 2010 11:45:00 AM Ignore Bruno44 Report Abuse Politicals should be forced to study economics 101, or Economics for idiots. They never realize that more taxes on businesses are passed on to the consumer. The consumers are the ones that are getting reamed by governments.
arvo87 Champion Author New Mexico Posts:2,940 Points:681,465 Joined:Jul 2008	Message Posted: Mar 11, 2010 11:44:21 AM Ignore arvo87 Report Abuse anything you levy on the oil company will be passed directly to the consumer, so its not like they are taking money out of the oil company's pocket
call911ok All-Star Author Vancouver Posts:544 Points:76,340 Joined:Mar 2009	Message Posted: Mar 11, 2010 11:42:54 AM Ignore call911ok Report Abuse Well, the province of Alberta doesn't pay any sales tax, different than any other provinces in Canada. So, tax increase to oil company doesn't mean they'll be inflicted by higher cost by oil company in return.
Mr.Dirt Champion Author Albany Posts:6,762 Points:2,165,435 Joined:Mar 2004	Message Posted: Mar 11, 2010 11:40:25 AM Ignore Mr.Dirt Report Abuse tax bid g oil we will pay for it
silvolvo Veteran Author Twin Cities Posts:258 Points:876,900 Joined:Apr 2008	Message Posted: Mar 11, 2010 11:36:55 AM Ignore silvolvo Report Abuse does he reslly think that increasing the taxes on the oil companies will not be passed right through to the consumers? wow.
hwmillerster Champion Author Missouri Posts:4,434 Points:1,005,420 Joined:Oct 2008	Message Posted: Mar 11, 2010 11:36:48 AM Ignore hwmillerster Report Abuse Canada is doing nothing more than what Sarah Palan as well as her predecessors did with Alaska crude. Only in the lower forty-eight do companies actually own the oil fields. Up north, they are leases and the government retains ownership and can make changes to the terms and conditions of the leases.
bbthegun Champion Author San Diego Posts:4,539 Points:1,263,515 Joined:Sep 2006	Message Posted: Mar 11, 2010 11:34:08 AM Ignore bbthegun Report Abuse Government meddling at its finest...
Sportdeck Champion Author Atlanta Posts:10,802 Points:2,061,365 Joined:Sep 2003	Message Posted: Mar 11, 2010 11:32:24 AM Ignore Sportdeck Report Abuse Sounds like the govt is just as greedy as corp execs.
Masercal Champion Author Michigan Posts:3,610 Points:780,740 Joined:Oct 2007	Message Posted: Mar 11, 2010 11:27:26 AM Ignore Masercal Report Abuse Tinkering with oil royalties....imagine that! Continue to conserve and make the move to renewable and alternative energy today.
04tang Champion Author Ohio Posts:2,244 Points:494,325 Joined:Jul 2006	Message Posted: Mar 11, 2010 11:25:15 AM Ignore 04tang Report Abuse OK Now what.
esquared Champion Author Oklahoma City Posts:6,082 Points:1,573,875 Joined:Jan 2006	Message Posted: Mar 11, 2010 11:22:36 AM Ignore esquared Report Abuse Hmmmm.... Wonder where the Wildrose Alliance gets its funding? Wouldn't happen to be Big Oil, now, would it?
PaylessKY Champion Author Kentucky Posts:6,105 Points:1,123,475 Joined:Oct 2008	Message Posted: Mar 11, 2010 11:19:32 AM Ignore PaylessKY Report Abuse Higher profit brought on by higher demand, brought on by lower output.
AuburnTim Champion Author Indiana Posts:5,704 Points:1,285,990 Joined:May 2005	Message Posted: Mar 11, 2010 11:15:57 AM Ignore AuburnTim Report Abuse As with most governments across the world its help the minority (rich) first then maybe the majority. That needs to change worldwide especially here in the US where the majority of us have been ignored for far to long now.
aldog365 Champion Author Nashville Posts:3,150 Points:1,559,710 Joined:Aug 2005	Message Posted: Mar 11, 2010 11:14:35 AM Ignore aldog365 Report Abuse Someone is gonna get the shaft.
BWD Champion Author Charleston Posts:3,116 Points:1,760,940 Joined:May 2004	Message Posted: Mar 11, 2010 11:14:01 AM Ignore BWD Report Abuse It's about time to help the property owners.
DrivingFool2 Champion Author Appleton Posts:6,177 Points:1,144,440 Joined:Apr 2005	Message Posted: Mar 11, 2010 11:13:12 AM Ignore DrivingFool2 Report Abuse Help the people
pecos Champion Author Columbus Posts:5,948 Points:1,698,290 Joined:Jul 2005	Message Posted: Mar 11, 2010 11:08:41 AM Ignore pecos Report Abuse Okay.
fedex09 All-Star Author Missouri Posts:626 Points:686,380 Joined:Jan 2006	Message Posted: Mar 11, 2010 11:07:15 AM Ignore fedex09 Report Abuse OK?
oldiesman Champion Author New York Posts:4,216 Points:1,763,875 Joined:May 2006	Message Posted: Mar 11, 2010 11:01:28 AM Ignore oldiesman Report Abuse Sounds interesting.
jimgraham Champion Author Akron Posts:7,960 Points:1,513,070 Joined:Oct 2007	Message Posted: Mar 11, 2010 11:00:55 AM Ignore jimgraham Report Abuse Lying Poll-aticians that say anything to the stupid public just to get elected, no matter who will be hurt by their "plans". They must have realized they were killing the goose.
cuspid All-Star Author Michigan Posts:570 Points:396,205 Joined:Jun 2008	Message Posted: Mar 11, 2010 10:55:44 AM Ignore cuspid Report Abuse I like it
CISA Champion Author Orange County Posts:4,450 Points:1,102,475 Joined:Dec 2006	Message Posted: Mar 11, 2010 10:54:11 AM Ignore CISA Report Abuse so he may have decided not to steal more from companies; I like it!
in4ster Rookie Author Tallahassee Posts:55 Points:277,450 Joined:May 2006	Message Posted: Mar 11, 2010 10:52:04 AM Ignore in4ster Report Abuse Just another politician breaking his campaign promises!
afghaned Champion Author Hamilton Posts:8,502 Points:821,700 Joined:May 2004	Message Posted: Mar 11, 2010 10:51:08 AM Ignore afghaned Report Abuse Another politician changes his mind. That never happens!!! :-O
Zinnoil Champion Author Florida Posts:18,901 Points:2,139,725 Joined:May 2004	Message Posted: Mar 11, 2010 10:50:11 AM Ignore Zinnoil Report Abuse Could be a BIG deal for investors.