The Pembina Institute has a Royalty Reform Tracker on their website. It tracks how much royalties Albertans would have earned if the Alberta Government had accepted the Review Panel Recommendations when presented.
That is unrealistic because the need time to review the review and be sure they understand all the implications of the recommendations...including the political ramifications after all.
Check out what not accepting the Review Panel recommendations is costing you in continuing forgone royalty payments. ths link is Albertans' Fair Share Minimizing Environmental Impacts of Oil Sands Development in Canada The Pembina Institute
The fact the Royalty Review Report was made public at the same time the government received it is a step towards more open democracy for sure. Usually these report go on the shelf or into the back rooms for "discussion."
So far this has been a pretty open process. We shall see how the Minister of Justice and Attorney General handles his "industry liaison role" in the "further consultation" they are engaged in. I know and trust Ron Stevens to be totally open, transparent and accountable in all his discussion with industry pending a government decision on recommendations.
Albertans will be wondering and watching.
The Pembina Institute are either morons (possibly), or simply incapable of understanding the time it would take to review AND implement the report (quite likely). But then, just being a so-called "think tank", they have never had experience actually implementing reports, only writing them.
ReplyDeleteSo having a "royalty revenue foregone" calculator is intellectually dishonest, and is just propaganda.
It is the government that is answerable to the people, and it is entirely their perogative to carefully review this report, and examine all of the implications.
I don't know if the "Calculator is intellectually dishonest and just propaganda."
ReplyDeleteIt is dramatic and effective as to what the RRR recommendations could mean for future generations of Albertans that is for sure.
I intend to visit it often.
It is all about opportunity costs and of course the GOA needs to consider carefully and really understand and be able to communicate its decisions on the RRR to stakeholders but more importantly for a political party -to do this for the benefit of citizens - the voters!
Time is money for the oil industry and for Albertans too. This royalty review fair share issue needs focused, informed and prompt attention from our government. I believe that is what is happening.
The response to the RRR is not being rushed through and I have every confidence it will be done right...as well as rapidly!
The only reservation I have about the post-report "consultation" process is that the industry lobby might be done old style. That means behind closed doors with politicians without the accountability or transparency necessary for such a critical public policy issue.
If that happens, it is unacceptable - especially in light of the pending Lobbyists Act. Nothing on this issue needs to be confidential -nor should it be. Albertans are entitled to have all the information and positions of all the various interests so they can better understand and judge the wisdom and will of the ultimate political decision that must be made.
Actually, the Pembina Institute has an agenda and it is to shut down oil sands projects in this province. They advocated going to a 55% post payout in their submission, based on inaccurate cost data. It would have sunk every new project in this province.
ReplyDeleteThe Anons are absolutely correct. The Pembina institute are incredibly disengenuous because their real agenda is to shut down the oil and gas industry. Their proposals to the RR panel were incredibly stupid but apparently they were the only ones Hunter listened to.
ReplyDeleteUnless the timeline is extended, the report is being rushed through. The numbers are very complicated and everybody is trying very hard to make sure they're correct. There are also discussions which have to take place. Unless we have to come a world where we are going to screw a business without telling them face-to-face and talking about it.
The Pembina ticker and the loony left (including libs) are making a huge assumption with their gas numbers. They are calculating the 'lost' revenue based on eliminating special programs such as deep gas. Missing in that scenario is that there wouldn't be any drilling for deep gas without the programs. Like the oil sands, it is truly a 'everybody shares' kind of program.
Randy
Hi Randy
ReplyDeleteGlad to hear everyone is trying to be sure the numbers are correct. The data is what the industry has submitted and was used by the Panel. So beware if you think it is "garbge out" in the RRR. The cause may be the "garbage in" and industry is where all the data came from that the Panel used.
Lets deal with the issues on their merits and not with name calling. It diminishes respect for your points.
Perhaps you need to go to the Panels website and read some of the submissions...to see who was listened to. Besides - as you say this is complicated and it is not only about business, as important as that is.
It is about a fair share for all Albertans now and in future generations - not just the few priveledged today.
It should also be about responsible stewardship, sustainable growth and an industry and government being properly accountable to the owners of the resource.
If you want to consider something that is complicated - THAT Randy is complicated.
I followed it all the way through. The panel did not listen to anything we said and now they want to claim it was our numbers?? Gotta call bullshit there.
ReplyDeleteThey contracted van Meurs to do the research and he pulled stuff out that is completely opposite to reality. Costs are wrong, wrong wrong. You cannot blame this on industry. And let's face it, ten minutes in front of a panel is not consultation. You want real talks, we have to go behind doors and get the real numbers. Like it or not, that is the marketplace.
And this debate is not about stewardship. at all. Take that one to Environment or SRD, this is about economic rent. Nobody out there is saying that Gov't can't do anything but they, and their shareholders (lots of Albertans BTW), are saying if you impose these ridiculous recommendations, they will move capital out.
Margins are pretty slim in this province, there is a limit on what you can take out. Believe it or not, we are not far away from that point.