It is Election Day today in the North West Territories. That is one of the most exciting places in Canada and is home to some of the most interesting characters you will ever meet too.
I often describe the NWT as another Alberta in the making but North of 60. They can avoid and even learn from the mistakes we are making down here – if they are careful.
Thanks to retiring NWT Premier Joe Handley – a great guy who did a great job for the NWT. He also made the south aware of the northern people and its potential. In the process he taught us to appreciate Canada in a different - and better way.
Ken:
ReplyDeleteI suggest you take the time to review Tristone Capital's analysis of the Royalty Review Panel report. I think it is very objective and uses solid and up tp daate data, something the Panel chose not to do. I anticipate you will have a blog posting on the Tristone report.
Anon@ 9:43 - I read Tristone' earlier response to the "Our Fair Share" Royalty Review and it noted that it claimed high cost low margin projects would be at risk.
ReplyDeleteI agree and since Albertans are only paid reoyalties on NET PROFITS why would we want such marginal projects to proceed?
I have the Tristone site open and will read and post on it. I see they are having a news conference in Calgary this morning to comment on their anaylsis of the Our Fair Share.
I will post on Tristone's comments but after the Auditor General's Report being released in 5 minutes.
Just to be clear:
ReplyDeleteFor the oilsands, Alberta collects royalties on net profits (actually pre-tax free cash flow).
For conventional oil & gas, royalties are collected on the top-line (revenue and production), not net profits.
For my part, Tristone did a much better job than the "Canada-stan" crap that came out of the investment banks in the first few days following the panel's report. I think that industry is (slowly) realizing that they cannot simply argue the status quo. If they object to the Panel's recommendations, they must suggest alternatives. The release of the Tristone report is a positive development, in my opinion.
I agree, Ken. Joe Handley was a great Premier for the NWT and will be missed.
ReplyDeleteI had the chance to meet him at the Arctic Winter Games in Fort McMurray in 2004 and was very impressed by his outgoing nature and solid understanding of issues in his territory and the jurisdictions surrounding it.
Here's hoping that whoever takes the reins brings the same ability to get the job done as Premier Handley had.