Alberta at a crossroads : Alberta's Royalty Review 2015

And we want to begin by thanking all of the people who, as owners of this resource, took time to get engaged in the process, to offer their views and their expertise, and to help shape the direction and substance of our Panel’s report and recommendations. [...] Our challenge was to prepare a report that reflects the views and expectations of Albertans and, at the same time, addresses the technical challenges of a very complex royalty framework that may have been effective in the past but needs to be modernized in order to meet the challenges we see today. [...] Both the owners of the resource (Albertans) and the energy companies share in the value of developing our resources. [...] We found several ways in which the framework is not keeping pace with the changing nature of the energy business and failing to optimize the value of our resources. [...] The framework supports the attraction of investment in the development of Alberta’s energy resources, encourages the creation of jobs in the province, and supports a predictable business climate in Alberta.