Suncor Sues Alberta Over Royalty Scheme

1% ROYALTY!!

What kind of highway robbery is this????

And I'll bet you the province gives them the water for free too.

This is maddening. Let's get out of NAFTA, nationalize our energy supplies, and run them in the public interest, please.

Ill be watching this as well.

I believe the government misrepresented its intent some thirty years ago when I started buying alcoholic beverages. My choices at that time were based on the tax structure of the day, which I had no reason to believe would change. Had I know the government's true intent, I never would have made the significant investment in liver damage that I have through the years.

Don't even get me started on smoking...

The Alberta government should probably hike the royalty structure. If oil companies don't like it, they can always buzz off and start drilling on asteroids.

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"When we are in the middle of the paradigm, it is hard to imagine any other paradigm" (Adam Smith).

<blockquote>In late July, Suncor reported second quarter earnings of $203-million, up 75 per cent over last year amid soaring oil prices and higher production.</blockquote><p> <blockquote>In April, George told analysts that his company might have to "re-assess the choices" in its ongoing growth strategy due to Alberta's higher royalty demands.</blockquote><p> Greedy bastards. I'd like to 're-evaluate' how much tax they should be charged for taking my (and your) oil out of the ground and selling it back to me. The difference in this decision mean 5% royalties, rather than 1% royalties. Like building a completely new plant with completely new extraction technology, then using the old refinery doesn't mean it's a new project.<p> <p>---<br>"If you must kill a man, it costs you nothing to be polite about it." Winston Churchill <br />

Yeah.

If, for example, most of us had to make a decision knowing we'd only get 950Mil profit rather than 990Mil, we'd probably really rethink our position (as if).

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"When we are in the middle of the paradigm, it is hard to imagine any other paradigm" (Adam Smith).

Good point. I say we drop the royalties altogether. After all, the lower the taxes, the more foreign investment (foreign ownership) and the higher our GDP. Well aint that just hunky dory.

I must admit, my heart goes out to Suncor. If I had to endure the hardship of a 5% royalty fee, I'd definitely think about packing up.

Most people don't sell that much, so a royalty fee is irrelevant. But since I pay 7% federally and 7.5% provincially on everything I buy, I have a hard time sympathizing here. Lets charge 20% royalties and fund post-secondary education, healthcare, shelters for the homeless, etc etc. This systematic robbery has got to stop.

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Kory Yamashita

"What lies behind us and what lies ahead of us are tiny matters compared to what lies within us." - Oliver Wendell Holmes

It is really amazing the threats these guys come up with, so let us take them up on their threat, good bye, sure someone will be happy to take their place. According to the Parklands Institute research oil companies are paying considerably higher royalties to Alaska, Norway etc and for some reason it doesn't stop them from drilling. Why are we selling our resources so cheap and as fast as they can take them? Seems like we are trying to get to the bottom to get the prize or something, somebody should tell them it's not a box of cracker jacks!

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If I stand for my country today...will my country be here to stand for me tomorrow?

In Alaska as well, they actually get royalty cheques from the government for revenues from that tax.<p><p>---<br>"If you must kill a man, it costs you nothing to be polite about it." Winston Churchill <br />