Commodities
Alberta Overhauls Oil Royalty Regime to Spur Growth
The province of Alberta plans to change its oil royalty regime in an effort to encourage investment and growth in the industry. According to Premier Danielle Smith, the revised regime will be designed to incentivize Canada's oil sands companies to invest in new production.
The current royalty rates are set to change by November, with the goal of filling a proposed one-million-barrel-a-day pipeline. The province is looking to increase production to meet demand and stimulate economic growth.