Alberta’s royalty review is now underway
The royalty review advisory panel will begin its work connecting with Albertans as it reviews the province’s non-renewable resource royalty framework.
Energy economist Peter Tertzakian, former Alberta deputy minister of finance Annette Trimbee, and Mayor of Beaverlodge Leona Hanson will work alongside panel chair Dave Mowat. The group will engage with Albertans, energy-related industries and key stakeholders through a combination of meetings, public sessions and interactive, web-based discussions throughout the fall.
“Albertans deserve a royalty system they can trust. We have to get this review right, and doing it right means having an open, frank discussion about how our royalty system can better serve Albertans, industry and the good jobs industry creates for generations to come.”
The work of the panel will be guided by a mandate to identify ways to optimize:
- returns to Albertans as owners of the resource,
- industry investment,
- diversification opportunities, such as value-added processing, and other innovation, and
- responsible development of Alberta’s resources.
The government also committed that the current royalty framework will remain in place until the end of December 2016. If and when changes are made, any incremental revenue will go to the Alberta Heritage Fund.
“I’m excited about the panel we’ve brought together to do this work. We are all capable and collaborative people and we intend to tackle this process with the best interests of Alberta and Albertans always top of mind. We’re eager to ask some important questions and hear what people have to say.”
Albertans are encouraged to visit letstalkroyalties.ca where they can submit comments and engage with the panel. Albertans are being asked to consider the following two initial questions:
- What do you think – or want to understand – about the Alberta royalty framework today?
- What would you like this review to accomplish?
This feedback will help guide the process and identify issues for the panel to include in its findings. The royalty review advisory panel will conclude its work by the end of this year and its advice will be considered by government prior to any decisions on changes to the current royalty structure.