I see where Bar Sinister asked about the 1% startup and never got a decent answer.
The tar sands have a base rate on finished crude; that which they sell of close to 16% Canadian dollars.
They run up bills (not audited) when they build the plants. At some point they start to produce crude. Alberta takes only 1% of the total price as a royalty and keeps it at 1% until 100% of the project is paid for. Then they go up to whatever current rate is popular.
I don't argue this as being a decent arrangement.. What I do argue falls from Mr. Dunns audit. He pointed out the companies were not getting audited about what they should pay. They did not get audited for improper charges placed on the build.
Mr. Dunn (AG) pointed out there were not enough people in the department to even begin an audit and this short staffing was deliberate.
What does this mean? Well, it means this Government is not doing its job of looking after the Taxpayer coin. It also points out like little else they are totally on side with the developers allowing them to charge what ever in hell they want to the taxpayers.
In case any one missed it: This formula means that the Alberta Taxpayer pays 100%; probably 120% of the costs of those plants.
We are not getting a return on our investment!
The tar sands have a base rate on finished crude; that which they sell of close to 16% Canadian dollars.
They run up bills (not audited) when they build the plants. At some point they start to produce crude. Alberta takes only 1% of the total price as a royalty and keeps it at 1% until 100% of the project is paid for. Then they go up to whatever current rate is popular.
I don't argue this as being a decent arrangement.. What I do argue falls from Mr. Dunns audit. He pointed out the companies were not getting audited about what they should pay. They did not get audited for improper charges placed on the build.
Mr. Dunn (AG) pointed out there were not enough people in the department to even begin an audit and this short staffing was deliberate.
What does this mean? Well, it means this Government is not doing its job of looking after the Taxpayer coin. It also points out like little else they are totally on side with the developers allowing them to charge what ever in hell they want to the taxpayers.
In case any one missed it: This formula means that the Alberta Taxpayer pays 100%; probably 120% of the costs of those plants.
We are not getting a return on our investment!