Skip to comments.Alberta’s Oil Companies Warn Government On Taxes
Posted on 09/07/2015 8:35:49 AM PDT by bananaman22
Big oil is taking no chances with the outcome of Albertas royalty review currently underway. In 2007, the industry was surprised when royalties were jacked up despite dozens of corporate presentations to the royalty review panel warning of the fragility of investment economics and the damage increased royalties would cause. Therefore producers and others with significant vested interest have already started the lobbying process.
Such is the case with Canadian Natural Resources Limited (CNRL) which made a slide presentation to the new NDP Alberta government on August 20. The industry has obviously learned never to assume politicians actually understand what makes the economy and oil industry work.
The presentations key messages were: CNRL is a responsible operator in every way; jobs are created by investment, supported by a positive return on capital; Alberta needs a supportive environment which creates jobs; Alberta is a high cost place to do business, and historically, returns on investment have been poor. Thats when prices were high. It is worse now.
(Excerpt) Read more at oilprice.com ...
People in this country obviously need to be reminded that socialism does not work and that government only rewards failure.
the whole idea of a NDP majority in Alberta still boggles my mind.
That being said, I suspect the NDP government will raise the royalties again because
- oil is big biz can afford it and
- oil is bad for you, comrade.
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