Quote:
Originally Posted by Ronald Pagan
Well I'm pretty sure that since the new royalty structure was implemented oil sands production has never been higher so I don't know what your point is.
Besides that, the laughable 'debate' about the new royalty scheme shows just how pervasive oil company interests are with Alberta citizens. If you believe that the people of Alberta own the oil and gas underneath the ground than the royalty structure in 2007 was a terrible deal for Albertans. Cuts to corporate income taxes in the early 2000s gave oil companies a combined share of 14 percentage points of rents that they would have not received if the 1997 royalty structure was still in use in 2007.
That means billions of dollars were being transferred away from the people and toward private (multinational) firms. 14 percentage points! Yeah, right, that new royalty structure sure has screwed you, teh regular joe-average Albertan...
Seriously, wake up and smell the coffee
http://www.statcan.ca/english/confer...plourde-en.ppt
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got it, I just learned two things.
1) you have very little idea of how the oil gas industry works (well I actually learned that a few posts ago, but its confirmed here)
2) you have no desire to learn anything. you are here to teach Alberta how the world works even if most of what you say has no basis in reality. No need to be encumbered with facts.
Oil sands producion hasn't declined but the cost to develop other, largely gas fields has change from economic to prohibative. And although nat gas and liquids doesn't get the same pub in papers where you are from it is more important to the ab economy. Further Oilsands development is a franction of overall oil production, there are about 30 grades of oil in AB and oilsands grades make up about 10 of them. On average they are bigger streams but again it is the smaller fields that employ a greater proportion of the people. IIRC oilsands projects in particular have special breaks in this royalty regime so by showing us development in Ft Mac to proove the new royalty structure works just exposes how much you don't know.
And btw the value shown to albertians is only there if business is allowed to function, and run their businesses.