Oil Sands Watch | Pembina Institute

 

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The federal government is out of step with leading thinkers on issues related to sustainability, energy and climate change, according to the results of a groundbreaking survey of more than 5,000 experts and government officials.

Alberta Premier Ed Stelmach's decision on royalties will cost Albertans billions of dollars for every oil sands project, according to new modelling undertaken by the Pembina Institute.

The latest report of Alberta's Auditor General adds to mounting evidence that royalty rates can be increased substantially while sustaining a competitive investment climate.

Any additional input from the energy industry on the Alberta Royalty Review Panel must be done in an open and transparent manner, the Pembina Institute urged today.

The Pembina Institute calls on Premier Stelmach's government to accept and implement the full package of reforms proposed by the Royalty Review Panel in its final report, released yesterday.

Effective reform of the oil sands royalty regime could result in substantially higher resource revenue for Albertans and continued profit for investors, according to a report released today by the Pembina Institute.

A recent poll reveals that more than 90 percent of Albertans want oil sands companies to be held responsible for their share of industrial pollution by applying the "polluter pays" principle.

Today, the Pembina Institute released its blueprint for an effective oil sands, oil and gas royalty reform process to ensure that Albertans fully benefit as owners of these resources.

The royalty return to Albertans for each barrel of oil sands oil declined by 32% between 1996 and 2005. Further, the federal government has lost as much as $1.65 billion due to tax breaks to the oil sands industry.

Amy Taylor, Pembina's economist will make the case for reforming the oil sands royalty regime at the 5th of 7 public input sessions being held in Calgary today.

Minister Melchin's announcement to end the Alberta Royalty Tax Credit is positive but does nothing to change the outdated royalty regime for the oil sands industry which is expected to make up 75% of oil production in the province by 2011...

A large majority of Albertans believe there should be a public review of oil sands royalty rates to ensure Alberta is getting the maximum benefit from this non-renewable resource...