alberta royalty review

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The Alberta premier chimed in on B.C.'s opposition to the Kinder Morgan pipeline expansion.

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Last week, Canada’s premiers concluded their most recent meetings with the release of Canada’s Energy Strategy, a document that “charts a path for shaping the sustainable development of Canada’s energy future.”

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The Alberta government this week announced that it is postponing royalty rate hikes on some types of new oil and gas wells in hope of attracting new drilling projects. The change is an acknowledgement that the higher royalties scheduled to take effect in 2009 are putting the province at a competitive disadvantage. Unfortunately, the change falls far short of the reforms necessary to encourage petroleum industry investment, production, and employment in the present economic environment.