http://www.realestatewebmasters.com/blogs/calgary-realtor/2949/show/
Excerpt:
With all due respect to the board, this report is fundamentally flawed. The entire report and proposals don't take into account the significant rise in E&P costs (material and service costs are dramatically higher than what the report is based on). There wasn't one member of the board that had any first-hand experience in oil exploration & development. Hunter's background is in forestry.
Mr. Stelmach seems to have painted himself into a corner. He's allowed this flawed document to be published, without review of the basic facts, and most of the public believe the numbers as published. Hunter claims the data he used was provided by industry members. I find that difficult to believe. While there is certainly room for increases to energy royalties, should Stelmach decide to adopt the recommended changes, he'll cut the legs out from under the Alberta energy industry. Most people don't recall what happened to Alberta as the result of the Liberal's energy policy in 1980. The changes Stelmach is considering, if implemented as proposed, will be the most devastating hit to Alberta, and all Albertan's, since the NEP.
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