Energy industry on 'pins and needles' ahead of Alberta royalty review

CALGARY - Alberta's oil and gas industry is on tenterhooks as it awaits the findings of the province's royalty review.

See Full Article

A four-member panel has spent the past five months examining how the province charges energy firms to extract resources.

Premier Rachel Notley will announce a new royalty framework in Calgary on Friday based on the panel's recommendations.

Energy Minister Marg McCuaig-Boyd has said if there are any changes to the royalty system, they wouldn't take effect until the beginning of next year so that companies have time to adjust.

The review also took into account Alberta's new climate change policy and the effect of new carbon charges on industry players.

Mark Scholz, head of the Canadian Association of Oilwell Drilling Contractors, says royalty rates should be reduced to offset the higher carbon costs.


Latest Economic News

  • Ont. electricity system operator reports $80M loss after accounting change

    Economic CTV News
    TORONTO -- Ontario's efforts to ease the upward pressure on electricity rates has been dealt a setback by a change in accounting practices. In the government's public accounts for 2015-16, the Independent Electricity System Operator reported a "previously unrecognized actuarial loss and past service costs" of just over $80 million. Source
  • Asian stocks mixed after manufacturing reports offset by weak South Korea data

    Economic CTV News
    SEOUL, South Korea -- Asian stocks were mixed on Tuesday as upbeat reports on manufacturing in the U.S. and Europe were followed by weak growth data from South Korea, Asia's fourth-largest economy. KEEPING SCORE: Japan's Nikkei 225 rose 0.7 per cent to 17,354.68 while South Korea's Kospi fell 0.5 per cent to 2,036.86. Source
  • Galaxy Note recall, Hyundai strike hurting South Korea's economy

    Economic CTV News
    SEOUL, South Korea -- South Korea's third-quarter economic growth has slipped to its lowest level in more than a year, with Samsung's Galaxy Note 7 recall having an impact. The country's central bank said Tuesday that Asia's fourth-largest economy expanded 2.7 percent during the July-September quarter over a year earlier, the slowest pace since the second quarter of 2015. Source
  • Toronto lawyer Galati files constitutional challenge against EU trade deal

    Economic CTV News
    OTTAWA -- The Toronto lawyer who successfully challenged the previous Conservative government over one of its Supreme Court judge nominees is setting his sights on a new target: Canada's free trade deal with the European Union. Source
  • Federal deficit likely to come in smaller than predicted in budget: PBO

    Economic CBC News
    The federal government is on track to post smaller deficits in the coming years than the Liberals are currently forecasting, Canada's non-partisan parliamentary budget watchdog said on Monday. The Parliamentary Budget Officer said in a report Monday it expects Ottawa to post a deficit of just over $22 billion this year. Source
  • Quebec carbon market not changing behaviours so far, but experts are hopeful

    Economic CTV News
    OTTAWA -- As politicians across the country worry about the consequences of a national carbon tax on family incomes, many experts say the much-touted carbon market in Quebec has so far had little effect on changing citizens' habits. Source
  • Jared Fogle's ex-wife sues Subway

    Economic CTV News
    NOBLESVILLE, Ind. -- The ex-wife of former Subway pitchman Jared Fogle is suing the restaurant chain for damages, saying the company received three reports indicating his sexual interest in children but failed to take proper action and continued promoting him as their spokesman. Source
  • Lexus, Toyota, Buick top Consumer Reports' reliability list

    Economic CBC News
    Lexus, Toyota and Buick are the most reliable brands in Consumer Reports' latest survey, a reward for their conservative approach to new technology. It's the fourth straight year that Lexus came in first and Toyota came in second. Source
  • Capital Power pushes back Genesee 4 and 5 power plant

    Economic CTV News
    CALGARY - Capital Power has once again delayed a final go-ahead on its new natural gas-fired power plant because of continued uncertainty about Alberta's coal phase-out and power market. The proposed $1.4-billion Genesee 4 and 5 power plant, half-owned by utility Enmax Corp. Source
  • Trump Hotels ditches Trump name for new brand

    Economic CBC News
    The Trump name is likely to be everywhere for the next 14 days, with one notable exception: it won't be associated with any new hotels owned by the Republican presidential candidate's eponymous company. Trump Hotels will use the brand name Scion for new projects targeted at young, urban travellers, the hotel chain said in a press release. Source