CHESTERMERE, AB (May 28, 2015): The NDP should either abandon its royalty review or set hard timelines to prevent capital investment from leaving Alberta, Wildrose Energy Shadow Minister Leela Aheer said today.
With Alberta facing challenging economic times and major energy companies cancelling or postponing capital investment, NDP Energy Minister Marg McCuaig-Boyd recently said a royalty review might start within the next six months and might be completed in a year, but provided no details.
“Alberta needs a business-friendly climate to help our economy bounce back, not uncertainty that will keep investment out of the province. Our energy partners need concrete timelines and parameters about this impending royalty review,” Aheer said. “We don’t think the NDP government should be doing this, but if they decide to go ahead with the review, it needs to be done quickly and transparently.”
Aheer said a recent report from the Conference Board of Canada citing low oil prices as cause for an impending recession only increases the need for clear information from McCuaig-Boyd on the royalty review.
“The tough times we entered when oil prices dipped last year are going to get worse before they get better, but drastic shifts toward ideological NDP policies will only act as a catalyst for recession and further hurt our energy industry,” Aheer said. “We need leadership that invites business to invest, creates jobs and leads to long-term prosperity. Wildrose has always presented a clear, positive vision for Alberta’s energy sector, the engine of Canada’s economy. It’s time for the NDP to do the same.”