http://ralphsworld.blogspot.com
is where I have put in much effort having to do with breaking up the Alberta "grey suits" old boy's club. And, doing well according to the response. Much information from inside Government where people are as upset with policies as I am.
I had been asked to clarify some of the numbers posted in my archives from last election.
Following requests to clear the numbers:
Oil is dealt in markets and finance in US dollars and converted to Canadian for institutional use.
The document I refer to is one supplied by Murray Smith’s department and gives projected targets of revenue on prices extending into the future. As well it gives the profits of the highest money makers for the year 2003 but, not the total production.
It is my firm belief daily production figures should be posted on the net the same way electrical supply figures are posted.
Price of oil today is 67.57 per barrel one barrel being measured in US gallons.
Alberta gets a royalty of only 25% of the net profit after production fees or in the case of start up companies, 1 percent of the gross production until the company recovers all start up investment and yes, they do have a tax deduction item which allows them to write off unforseen losses in the future for which they do not have to face back audit and payment.
The arithmetic in U S Dollars follows:
Oil price 67.57 per barrel.
Oil production 2,000,000 (Two million) barrels per day reported on TV. No other source figures available.
2 million barrels times 67.57 is the gross sale 135,140,000,000 dollars US per day
20.00 per barrel is the cost of production 40,000,000 dollars (Can)
The residual or profit after production is 135,100,000,000 dollars US
Of this Alberta gets 25% royalties 3,375,000,000 dollars US
Oil companies get 75% 101,325,000,000 dollars US
Many are Canadian arms of US companies.
Extend this at current prices which will likely be low, over 365 days.
Yearly paid into production costs 14,000,000 dollars Canadian
Yearly 25% Alberta Royalty 14,600,000,000 dollars US
Yearly taken by oil companies tax free 36,983,625,000,000 dollars US
Ask your MLA why we cannot fund health care properly without privatization.
Ask your MLA why any of us are paying health care premiums.
Ask your MLA why low income people are fed through food banks sent up next to Ralph’s barbeque and fun show.
Ask your MLA just where the money is going.
Ask your MLA why seniors cannot properly be looked after.
Ask your MLA why daily production and revenue postings are not made
On oil the same as they are on electrical power.
Yes I do think it is Ottawa’s duty to tax away a large part of these windfall profits so Alberta can see at least something back. It is Ralph and his crew that are the rip off artists.
John Clark
is where I have put in much effort having to do with breaking up the Alberta "grey suits" old boy's club. And, doing well according to the response. Much information from inside Government where people are as upset with policies as I am.
I had been asked to clarify some of the numbers posted in my archives from last election.
Following requests to clear the numbers:
Oil is dealt in markets and finance in US dollars and converted to Canadian for institutional use.
The document I refer to is one supplied by Murray Smith’s department and gives projected targets of revenue on prices extending into the future. As well it gives the profits of the highest money makers for the year 2003 but, not the total production.
It is my firm belief daily production figures should be posted on the net the same way electrical supply figures are posted.
Price of oil today is 67.57 per barrel one barrel being measured in US gallons.
Alberta gets a royalty of only 25% of the net profit after production fees or in the case of start up companies, 1 percent of the gross production until the company recovers all start up investment and yes, they do have a tax deduction item which allows them to write off unforseen losses in the future for which they do not have to face back audit and payment.
The arithmetic in U S Dollars follows:
Oil price 67.57 per barrel.
Oil production 2,000,000 (Two million) barrels per day reported on TV. No other source figures available.
2 million barrels times 67.57 is the gross sale 135,140,000,000 dollars US per day
20.00 per barrel is the cost of production 40,000,000 dollars (Can)
The residual or profit after production is 135,100,000,000 dollars US
Of this Alberta gets 25% royalties 3,375,000,000 dollars US
Oil companies get 75% 101,325,000,000 dollars US
Many are Canadian arms of US companies.
Extend this at current prices which will likely be low, over 365 days.
Yearly paid into production costs 14,000,000 dollars Canadian
Yearly 25% Alberta Royalty 14,600,000,000 dollars US
Yearly taken by oil companies tax free 36,983,625,000,000 dollars US
Ask your MLA why we cannot fund health care properly without privatization.
Ask your MLA why any of us are paying health care premiums.
Ask your MLA why low income people are fed through food banks sent up next to Ralph’s barbeque and fun show.
Ask your MLA just where the money is going.
Ask your MLA why seniors cannot properly be looked after.
Ask your MLA why daily production and revenue postings are not made
On oil the same as they are on electrical power.
Yes I do think it is Ottawa’s duty to tax away a large part of these windfall profits so Alberta can see at least something back. It is Ralph and his crew that are the rip off artists.
John Clark
