- C Roy
- October 17, 2012 - 11:18
The royalty rates quoted are rather misleading (in terms of Alberta oil sands anyway). A rate closer to 1% is paid on oil sands until capital costs are recuperated, this puts the effective rate of most oil sands operations far below that of Newfoundland for many years of operations.
- Who saw to it that Newfoundland and Labrador would have the lowest royalty rates by far in Canada? Something is WRONG.
- October 12, 2012 - 17:38
This article states "But the listing of royalty rates is virtually unchanged: in Newfoundland, 13 per cent; B.C., 30 per cent; Saskatchewan, 37 per cent; Alberta, 40 per cent for conventional oil and 28 per cent for oil sands oil; Texas, 32 per cent; Norway, 28 per cent". Guys and Gals can you see that there is something the matter with those stastics as it pertains to the percentage of Newfoundland and Labrador Royalty figures. My thoughts for years now, since I realized that the province of Newfoundland and Labrador was not able to create a meaningful economy, given its great location combined with one of the greatest endowment of natural resources anywhere in this World, was that those overseeing the development of our natural resources must have been syphoning off the cream for themselves. What else could it have been? Something is not above board with those statistics and I think an Inquiry needs to be struck that goes back 63 years.
- Cold Future
- October 12, 2012 - 09:26
Half an hour later and just a bit slower. Some day the sun will shine and have not will be no more.
- Wayne R Bennett
- October 12, 2012 - 08:37
Fact check: In Norway, it is 28 per cent. It is my understanding that Norway's oil comes from the offshore. They must have the same environmental conditions that is faced off our coast.
- October 12, 2012 - 07:51
I'd be curious if the report include other benefits besides the royalty rate? You would think that such a comparatively low royalty rate would have oil companies tripping over each other to explore for oil but that isn't happening.