Edmonton Journal April 15, 2012 T
he Alberta public used to recover 40 per cent of all resource revenue when Peter Lougheed was in power.
Why do we give our resource revenue away now?
Once the oil and gas companies have recovered their costs and made their standard profit, the rest of the revenue - the "economic rent" as Norway calls it - is up for grabs in Alberta. Why do we collect anything less than 100 per cent of that revenue? If we give it to the oil and gas sector, it is a subsidy. Why do we need or want to subsidize the richest corporations in Alberta?
Some Albertans claim that the oil and gas companies will leave Alberta if we charge higher royalty rates.
What nonsense. Alberta is a safe, pleasant place to live and work and has resources readily available.
The U.S. will need our resources for many years to come.
Our oil and gas will not go bad if we leave them in the ground for a few more years or extract them more slowly. Let's stop subsidizing the oil and gas companies and start collecting fair royalties for all Albertans.
Elizabeth Reid, Edmonton
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