Listen Live
HomeNewsRoyalty Review Panel balancing conflicting objectives

Royalty Review Panel balancing conflicting objectives

- Advertisement -

The first of four community engagement sessions on Alberta’s royalty review was held in Grande Prairie Tuesday. Chamber members learned more about the process during a luncheon, which was followed by a stop at Grande Prairie Regional College, and an open house that packed Centre 2000. Panel Chair Dave Mowat says their focus right now is getting the information out there and hearing back from the public.

“The really important piece is to get people to join in the conversation, because we’ll ultimately give them a lot of information and it will be you and your friends and everyone else that really shapes the principles by which we’ll develop our resources in the future.”

When looking at the province’s oil and gas royalty system, the panel has set out objectives that need to be balanced. Its four goals are to optimize the return for Albertans as well as investors, while keeping diversification and responsible development in mind. Panel member and Beaverlodge mayor Leona Hanson says they’re taking a holistic approach to the review and public input will play a big part.

“We own the resource; it’s Albertans’ asset and so to hear their voice and to find out what they care about, what those principles are for them, is a critical piece.”

- Advertisement -

Mowat adds that while royalties brought in $9 billion last year, it’s also important to look at the $60 billion plus that was invested in the province. The panel next heads to Fort McMurray.

- Advertisement -
- Advertisment -
- Advertisment -
- Advertisment -

Continue Reading