Energy firms hate uncertainty
Posted May 30, 2015 9:32 am.
Last Updated May 30, 2015 4:04 pm.
This article is more than 5 years old.
Many oil and gas companies are putting off future investment decisions in Alberta until they know what the new NDP government plans to do with corporate taxes, royalty rates and the possible introduction of a carbon tax.
The Manager of Business Development with Rapid Response Project, which sponsors the oil and gas report on 660News, says it’s hard to budget when you don’t know the cost of doing business.
“Premier Rachel Notley has some tough decisions to make,” said Ramsey Haymour. “Most firms are taking a wait and see approach to future development plans in the province.”
Haymour said at the moment “it’s tough times right now.”
The new Alberta government is expected to table it’s first budget in the fall.
During the May election campaign, the New Democrats talked about boosting corporate taxes and the new Energy Minister says a review of royalty rate high on the priority list, with plans to strike a committee to review it within six months.
