CALGARY - Alberta's current oil and gas royalty system, which has been in place since 2011, is complex. There are different formulas for oilsands, natural gas and conventional oil that take into account production rates and commodity prices.Here is a breakdown of how the province's royalty regime works today:Oilsands:— In a project's early stages, the rate is between one and nine per cent of gross revenue, depending on oil prices. Once a project reaches "payout" — covered upfront costs and [Read more]
Pipeline review changes no quick environmental fix: experts
EDMONTON - If the Trudeau Liberals are hoping that changes to pipeline reviews will get them off the hook from making tough decisions, they're out of luck.Experts say politicians will still have to balance emissions from regional industries under national targets to meet Canada's climate commitments."Measure, assess, etcetera — I think (it) makes perfect sense," said Andrew Leach, an energy economist at the University of Alberta."But then there's the more important question, which is how you [Read more]
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.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 [Read more]
Small and medium businesses plan to cut back 27% in Alberta this year: survey
CALGARY - A new survey shows small and medium-sized businesses in Alberta will slash spending more than expected this year as the oil downturn hits every level of the province's economy. The government-owned Business Development Bank of Canada says smaller businesses in the province plan to invest about $11 billion this year, 27 per cent less than last year.That compares with a 14 per cent increase in planned spending in British Columbia, and either flat or modest growth in spending across the [Read more]
Alberta supports new federal pipeline review rules to help get pipelines built
EDMONTON - Alberta Environment Minister Shannon Phillips says that she stands behind any federal government plan that will bolster the chances of getting pipelines built.Phillips was responding to new initiatives announced by Ottawa surrounding resource projects, including two pipelines to get Alberta crude to ports so it can be sold overseas.Federal reviews of those projects must now take into account upstream greenhouse gas emissions.Ottawa also extended the review periods for the Trans [Read more]
Five Things to know about Ottawa’s new review process for resource projects
OTTAWA - Five things to know about pipeline approvals in Canada:— National Energy Board hearings on Kinder Morgan twinning its Trans Mountain pipeline are almost over; the government is extending the deadline for a decision by four months, pushing it to next December, to allow for an examination of the greenhouse gas emissions created during the extraction and processing of oil destined for the new line. In the case of TransCanada's controversial Energy East project, for which hearings have not [Read more]
Crude oil prices to surpass US$100 by 2040, National Energy Board says
TORONTO - Energy consumption and greenhouse gas emissions in Canada will continue to grow over the next 24 years regardless of whether oil prices rise or pipeline projects are built, a report from the National Energy Board says."Scenarios like high or low oil and natural gas prices, or whether or not we build pipelines or we build LNG terminals ... are not sufficient to put Canada on a path to declining greenhouse gas emissions," said board chairman and CEO Peter Watson, who presented the [Read more]
Federal government to announce new transition rules for assessing pipelines
OTTAWA - The Liberal government is poised to announce new rules today for assessing major resource projects such as oil pipelines.A technical briefing is being scheduled for news media before Natural Resources Minister Jim Carr announces the new process this afternoon.Liberals say the new rules will cover a transition period that will include existing pipeline applications already in the works.Those includes Kinder Morgan's proposed twinning of the TransMountain pipeline in British Columbia and [Read more]
B.C. LNG minister says ‘we’re not afraid’ of federal environmental tests
VICTORIA - British Columbia's minister in charge of liquefied natural gas is heading to Ottawa for talks on how the federal government's promised changes to environmental reviews will impact the province's plans for a multibillion dollar LNG industry."We're not afraid, frankly," Natural Gas Development Minister Rich Coleman said Tuesday. "We're the guys who put in the carbon tax. We've been ahead of this curve. We've put in rules to make our LNG the cleanest in the world." Federal Natural [Read more]
‘I’m done’ — Laid off oil and gas workers seek employment outside industry
CALGARY - For 36 years, Sue Jones rode out the ups and downs of Alberta's oilpatch. But after she was laid off last March, she knew her days in the oil and gas industry were over."I'm done," said Jones, 56, who worked in data management and document control before she was let go."I'm older. I've been laid off so many times in oil and gas."Great pay and plenty of jobs attracted thousands to the province, but as the decline in crude prices stretches on, some industry veterans are deciding they can [Read more]
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