Here it is. Premier Stelmach and the PC Caucus's response to the Royalty Review Panel. And what a response it was.
Half bowing to industry pressures, and half appeasing Albertans who wanted Royalty rates to increase, for the sake of "our fair share".
Here's the deal:
Tar Sands:
Five percent of gross revenue will be taken by the province while companies recoup their capital costs.
Thirty-three percent of net revenue will be tossed to the public purse after companies have had their "holiday" period.
Syncrude and Suncor energy - who control forty-nine percent of raw, unprocessed bitumen, are creating enormous environmental devastation, and record revenue's of $677 million in the third quarter of 2007 - will have three months of meetings with PC insiders to figure out what is "fair" for them.
Goody.
Again, an issue that is social and environmental is broken down to economics, and nothing else.
Half bowing to industry pressures, and half appeasing Albertans who wanted Royalty rates to increase, for the sake of "our fair share".
Here's the deal:
Tar Sands:
Five percent of gross revenue will be taken by the province while companies recoup their capital costs.
Thirty-three percent of net revenue will be tossed to the public purse after companies have had their "holiday" period.
Syncrude and Suncor energy - who control forty-nine percent of raw, unprocessed bitumen, are creating enormous environmental devastation, and record revenue's of $677 million in the third quarter of 2007 - will have three months of meetings with PC insiders to figure out what is "fair" for them.
Goody.
Again, an issue that is social and environmental is broken down to economics, and nothing else.
Posts
1 comments:
I don't like the new background... booo!
Post a Comment