Energy companies will be charged 20 per cent more for the right to develop Alberta's oil and gas resources, Premier Ed Stelmach revealed in a long-awaited announcement Thursday.
Introducing what he called "a framework for a new century," Stelmach said oil and gas companies will be paying $1.4 billion more in royalties starting in 2009.
That figure is 25 per cent less than the $2 billion recommended by a government-appointed panel that reviewed the royalty formula, which had not changed since 1992.
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Introducing what he called "a framework for a new century," Stelmach said oil and gas companies will be paying $1.4 billion more in royalties starting in 2009.
That figure is 25 per cent less than the $2 billion recommended by a government-appointed panel that reviewed the royalty formula, which had not changed since 1992.
Full story
What do you think about the Alberta government's decision?
More...