EDMONTON – Alberta Premier Rachel Notley says the energy industry can rest assured that her government’s royalty review will not result in increased costs to anyone in the near future.
Notley says she doesn’t want to discuss details before the review is finished, but adds she can definitely say costs won’t go up while the industry is experiencing an “unprecedented” drop in oil prices.
Alberta’s four-person royalty review panel, headed by ATB Financial president Dave Mowat, has been taking submissions and listening to opinions since September.
READ MORE: Alberta royalty review still weeks away
The panel’s report was to come out by the end of 2015, but Notley says it won’t be ready until the end of January.
She has faced criticism over the uncertainty the review has created for the industry.
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Oil prices dipped bellow US$30 a barrel Tuesday from a high of more than US$100 a barrel for West Texas Intermediate in 2014.
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