Wednesday, March 07, 2007

Oilsands Rip Off

Here is a damning confession from Alberta's CEO, Ed Stelmach. Our provincial royalty rate is so low that the Feds make more money off the Tarsands then the people of Alberta!

Alberta Premier Ed Stelmach has urged caution on a Commons committee report that suggests more federal involvement in the oil sands and a reduction in tax benefits for producers.

"Everyone forgets that over the next 20-year period, about $51-billion, 41 per cent of the income, flows to the federal government," he said yesterday.

"They actually make more on the oil sands than we do.

And if that isn't bad enough the panel appointed to look at Alberta's royalty scheme is made up of the same Calgary Petroleum Club boys that got us in this mess in the first place.Critics skeptical of board chosen to review Alberta's petroleum royalties

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1 comment:

Feynman and Coulter's Love Child said...

You're absolutely right that this is an oilsands rip off.

We're being ripped off by Ottawa. The goddamned nuclear weapons targets who make up the population of Ontario shouldn't see so much as a thin dime from Alberta's oil.