SEARCH NEWS
ENERGY: Minister Mel Knight meet US investors over new royalty rates
        (AlbertaIndex, October 31, Wednesday) --- Energy Minister Mel Knight is meeting US investors in Washington, New York, Boston and Chicago from October 28 to November 4 to address their concerns over Alberta’s new royalty system due to begin in 2009.
        In his meeting with US government officials, investment firms and industry representatives, he will also highlight investment opportunities and continued security of supply for American consumers under the new royalty regime.

The framework offers a stable and predictable plan to increase royalty revenue for the province, while providing industry with time to adjust to the changes.

“This approach offers good value for Albertans and stability for industry and investors,” said Knight. “It is responsive to fluctuations in oil and natural gas prices, offering industry lower rates when prices are low and higher returns for Albertans when prices are high.”

He will speak to the Canadian Association of New York and the New England-Canada Business Council in Boston. He will also tour various energy-related sites, including refining facilities in the Chicago area.

Last week, Premier Premier Ed Stelmach announced a new royalty system from January 2009 that will raise an extra $1.4-billion a year. Alberta now collects about $10 billion in revenue from oil and gas companies.

Did you enjoy this article? Please share it!
Reddit!Del.icio.us!Google!Netscape!StumbleUpon!Newsvine!Furl!Yahoo!