Proposed royalty hike nothing new -Alberta auditor

Interesting timing, eh? Ahhh the game of politics:

http://www.reuters.com/article/companyNewsAndPR/idUSN0131082520071001

Proposed royalty hike nothing new -Alberta auditor

CALGARY, Alberta, Oct 1 (Reuters) - Alberta's government spending watchdog said on Monday that reports prepared for the province's energy department, dating back to at least 2004, have recommended raising oil and natural gas royalties.

In his annual report, Auditor General Fred Dunn said a 2005 study concluded that royalties could be increased by C$1 billion to C$2 billion a year.

The report comes on the heels of a panel recommendation last month that the province, which produces most of Canada's oil and natural gas, should boost its take from the industry by C$2 billion annually, about a 20 percent increase.

The panel recommendations have been attacked by oil and gas producers who say the higher payout would make much of their operations in the province unprofitable.

Last week, Canada's biggest explorer, EnCana Corp (ECA.TO: Quote, Profile, Research), said it would slash 2008 spending in the province if the recommended rates were adopted.

The previous reports prepared for the energy department were not made public.