June 26, 2015
No timelines, no terms of references, no certainty from today's royalty announcement
EDMONTON, AB (June 26, 2015): Today’s royalty review announcement offered no clarity for Alberta’s energy industry, and added another layer of uncertainty to Alberta’s economy, the Wildrose Official Opposition said today.
“Ongoing delays in providing any framework or timelines for a royalty review will hurt confidence and investment in Alberta’s economy which is already rattled by tax increases and other policy changes,” Wildrose Leader Brian Jean said. “We don’t support this review, especially given the low price environment, but we were at least hoping today’s announcement would provide clarity for our energy and job creation partners.”
With the advisory panel unable to complete its work until the end of the year, it will lead to ongoing uncertainty for industry already facing challenging circumstances. These delays will not help energy companies that need to plan next year’s projects.
During today’s announcement, Energy Minister Marg McCuaig-Boyd claimed the energy industry is “excited” for the review, in response to a question about other provinces courting energy business away from Alberta.
“The minister’s troubling response today indicates a worrisome lack of seriousness on the energy and economic files,” Wildrose Shadow Finance Minister Derek Fildebrandt said. “The government is clearly putting ideology ahead of clear communication and proper consultation, and it needs to do a better job of being transparent if it insists on pressing ahead with this ill-advised review.”