Alberta Oil Workers Rally Against Royalty Hikes & Parkland Inst Royalty Repo

Posted on Wednesday, October 17 at 15:25 by N Say
On Wednesday, the Parkland Institute released its own report saying royalties should be boosted by 90 per cent, rather than the "timid" 20 per cent recommended by the panel. The group also called for government ownership of energy companies.

"This is clearly a rally that's been organized by employers, not rank-and-file oilfield workers," said Gil McGowan, president of the Alberta Federation of Labour.

He believes some smaller companies and their employees are being swayed by "big oil scare tactics."

"In places like Suncor and Petro-Can and Husky, those members are telling us very clearly that they support the recommendations being put forward and in fact many of them are saying that they should go further."

...

http://www.cbc.ca/canada/edmonton/story/2007/10/17/oil-rally.html

New Study Shows Royalty Panel’s Recommendations Would Continue the Giveaway of Alberta’s Resource Wealth

The Parkland Institute report concludes by making a number of recommendations of its own which would ensure that Albertans receive maximum benefit from their own resources. Some of the key ones include:
- that the 1% royalty holiday be eliminated;
- that the base royalty rate should be increased to the point where Alberta is capturing at least 90% of available economic rent;
- that a windfall profits tax be implemented with the goal of capturing close to 100% of any significant increase in energy prices;
- that instead of the proposed royalty credit for companies that upgrade in Alberta, which would cost Albertans $3.2 billion, the government ensure value-added processing through strong regulations; and
- that, in recognition of the fact that 80% of global oil is controlled by National Oil Companies, Alberta seriously study public ownership as a way of maximizing revenues and playing a leadership role in the energy industry.

...

http://www.ualberta.ca/PARKLAND/mediareleases/PROct17_2007Royalties.htm

Here's the Parkland Institute's (excellent!) report mentioned in the article (but I bet nobody will actually read it):
http://www.ualberta.ca/PARKLAND/research/studies/OilRoyaltyReport(web).pdf

"Publicly-owned oil companies from countries such as Norway, China, Korea, Japan and Abu Dhabi have made purchases in the tar sands. It is ironic that the citizens of Norway, China, Korea, Japan and Abu Dhabi are profiting from Alberta's oil and gas while Albertans do not publicly own any of the companies involved.... With over 80% of the world's oil locked up by national oil companies, the rest of the world has realized that this resource is too valuable and strategic to be handed over to foreign multinationals."

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