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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (92546)	10/25/2007 7:44:06 PM
From: LoneClone	Respond to of 206150

Alberta protects golden goose; raises royalties by $1.4B starting in 2009 Thu Oct 25, 5:46 PM The Canadian Press ca.news.finance.yahoo.com CALGARY - Alberta Premier Ed Stelmach has decided to at least partially protect the goose that lays the golden egg and increase energy royalties by about 25 per cent less than a review panel recommended. The oil-fuelled province will bump up its take from the industry by about $1.4 billion starting in 2009 - less than the $2 billion the government-appointed panel had suggested. The province has rejected about half the panel's 26 recommendations - most notably the idea of a new tax on oilsands production. Royalties will go up for conventional oil, natural gas and oilsands projects, and will be more sensitive to fluctuations in price. The province has also delayed the increase, which will take effect in about 14 months, rather than starting next summer as the panel recommended. The province will also allow companies to pay royalties in bitumen that the government would then sell to Alberta upgraders and refiners to stem the flow of the raw product to the United States for refining.