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Originally Posted by Azure
Oil is back up to $60/bbl.
Good news.....if it keeps going up, maybe the deficit won't be so bad after all.
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Quote:
Although historically oil and gas royalties were about equal, the province now
receives more royalty revenue from natural gas than oil. In 2005/06 natural gas will
account for about 75 per cent of royalty revenues for Albertans. As a result, changes
in gas prices have a more dramatic effect on government revenue than changes in
oil prices.
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http://www.capp.ca/getdoc.aspx?DocId=100066&DT=NTV
Most of the royalties come from gas, which is still in the crapper.