Despite political instability, Angolans get more for their oil than Albertans
CALGARY – Albertans are getting less for our heavy crude oil than other nations with comparable resources, according to Alberta’s Department of Energy.
In a report obtained by the Alberta Federation of Labour, government analysts compared royalty and tax rates for heavy crude oil and found that Alberta charges significantly less for their resource than other nations with comparable heavy crude such as Norway, Russia and Angola.
“Alberta’s royalties are out of line with the stability, the infrastructure and educated workforce that oil companies can expect in the province,” AFL president Gil McGowan said. “Unlike Angola, oil companies operating here don’t have to deal with 20 million landmines. That has to be considered a competitive advantage.”
“The negative implications of our irresponsibly low royalties are clear: we have paltry savings in the Heritage Fund and we’re slashing the public services that Albertans need and value,” McGowan said. “If we didn’t give away our resources, we would be doing much, much better.”
Media Availability
Who: Alberta Federation of Labour President Gil McGowan
Where: Niagara Room, Ramada Hotel Downtown Calgary, 708 – 8th Avenue SW, Calgary, AB
When: Thursday, Mar. 28 at 10 a.m.
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CONTACT: Olav Rokne, AFL Communications Director at 780-289-6528 (cell) or via email orokne@afl.org.