Change in Tone

When the "New Royalty Framework" was announced, it sounded pretty clear to me that Suncor and Syncrude would be forced into the new regime despite having seperate, signed contracts. This statement by Mel Knight during his road show to Washington:

About 49 per cent of Alberta's oil sands production is covered by separate agreements that won't be covered by the new regime.

"We are in very constructive discussions with the people that have the Crown agreements currently," he said. "What we are looking forward to is to bilaterally open the agreements. We are not looking at voiding any agreements the government of Alberta made with any producers."

Without providing specifics, there may be advantages for both the province and the producers to reopen the contracts as they near maturity, he said.

I hope small indication is on the mark for what the government is now thinking. The intention of breaking signed contracts was one of the most egregious features of the "New Royalty Framework".