Sounds like he's not honouring the agreements in place with Suncor and Syncrude, they will need to adhere to the new royalty regime as well.
Increase from 1% to 9% on pre-payouts and up to 40% on post-payout depending on price.
He emphasized that there would be "stability" for investors because as commodity prices increase, the royalties would increase, but the same would happen if prices decreased; royalties would decrease.
I think this may scare investors somewhat, as many of them invest in Alberta based on increasing commodities. If the upside is limited, then the investing community won't be as keen to invest.
It does sound like most of the money is coming from Oil Sands though.
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