CALGARY – The CEO of Cenovus Energy says it would be a bad idea to review Alberta’s royalty structure at a time when crude prices are down by half.
Brian Ferguson says if Alberta is not fiscally competitive, then jobs and investment will go elsewhere.
Royalties have become a hot topic ahead of Tuesday’s election, with NDP Leader Rachel Notley saying it makes sense to examine whether Albertans are getting their fair share of the province’s resource riches.
READ MORE: NDP’s Notley brushes off Prentice ‘fear-mongering’ over energy
Notley has also said she would take a more hands-off approach to promoting the Keystone XL and Northern Gateway pipeline projects.
Ferguson says he’d like to see the next premier be “actively engaged” in seeking out new markets for Alberta crude.
The governing Progressive Conservatives have been pressing the New Democrats on their energy approach as polls show the Tories in a tight race a week away from the election.
READ MORE: Prentice says voters deserve clarity from the NDP on pipelines
“I think it’s not appropriate for me to comment on a specific outcome of the election next week, but I would say that in this kind of a business environment that having fiscal stability in the province is critically important,” said Ferguson.
“Alberta must be competitive. If Alberta is not competitive fiscally, then capital will flow to other jurisdictions and investment and jobs will flow to other jurisdictions.”
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