Mel Knight reduced the oil royalty to 19% from from 25% at the same time changing the trade amount from US dollars to Canadian Dollars.
The tar sands production is running at 1.6 million barrels a day. That extrapolates to 4.6 billion dollars a year lost to Alberta Taxpayers!
Economies to scale shows us the probability that Albertans own more than a small fraction of the oil stocks is small. Most by default are foreign owned.
Alberta is not loosing anything in this Green Shift! We only get 19% and that is not touched. Had the Alberta Conservatives not reduced the royalty to below rock bottom there would be no room for anyone to plunk a tax on the stuff.
The NEP came into effect at a time when the royalty was much much higher and the production was 1/1000th what it is now. The production was taxed.
The NEP did bite into Alberta's revenue. The Green Shift doesn't.
The tar sands production is running at 1.6 million barrels a day. That extrapolates to 4.6 billion dollars a year lost to Alberta Taxpayers!
Economies to scale shows us the probability that Albertans own more than a small fraction of the oil stocks is small. Most by default are foreign owned.
Alberta is not loosing anything in this Green Shift! We only get 19% and that is not touched. Had the Alberta Conservatives not reduced the royalty to below rock bottom there would be no room for anyone to plunk a tax on the stuff.
The NEP came into effect at a time when the royalty was much much higher and the production was 1/1000th what it is now. The production was taxed.
The NEP did bite into Alberta's revenue. The Green Shift doesn't.