More debt. Fewer jobs. Less tax revenue.
In 2017, the NDP’s Modernized Royalty Framework came into effect, freezing royalty rates for 10 years. The UCP thought that should be law.
Earlier this month, Alberta’s energy minister appointed two lawyers to the utilities commission. Both lawyers worked as counsel for energy companies.
Income tax revenues are $4.2B lower than planned this year. Oil & gas revenue is $3.4B lower. Federal transfer payments are $2.2B higher.
Earlier this week, the Alberta government released a vision and strategy for the natural gas sector. Canada is the 4th highest producer of natural gas in the world, and about two thirds of that is produced within Alberta. The newly released vision and strategy is intended to include more than natural gas production and distribution. […]
Through royalty adjustments, the provincial government reduces royalty rates for fossil fuel companies, which they hope will encourage new oil and natural gas reserves and improve the longevity of already existing reserves.
Last week, Alberta’s energy minister, sent out a tweet in which she claimed that the oil and gas sector is the largest industry in Alberta. But what does that mean?
Personal income tax and transfer payments from Ottawa will be the largest sources of income for the UCP government this year. If it wasn’t for them, the provincial debt would be much higher.
Last week, the Government of Alberta announced that they’ll be entering a memorandum with 3 other provinces to explore nuclear energy. Those provinces—New Brunswick, Ontario, and Saskatchewan—entered an MOU this past December to explore nuclear energy. This update will functionally bring Alberta into the mix. In November 2018, the Trudeau government outlined recommendations for collaboration […]
Did you know that Keystone XL isn’t the only oil and gas project that the UCP government plans to spend over $1 billion on?