NDP’s Notley promises royalty changes to boost oil refining in province
EDMONTON – NDP Leader Rachel Notley says her party would encourage more oil refining in the province if it wins power in the Alberta election.
Notley says the NDP would establish a commission to recommend a royalty structure to reward companies that add value to the oil rather than shipping it out raw to be refined somewhere else. The commission would report within six months.
Notley says government studies have shown upgrading oil in Alberta could create 16,000 direct and spin-off jobs and generate $400 million in corporate income taxes.
She also says she would review the overall royalty structure to ensure that Albertans are getting a fair return for their non-renewable resources.
Premier Jim Prentice has said he won’t hike royalties, especially given the downturn in the economy due to low oil prices.