Dave Mowat, President and CEO of ATB Financial, will chair the province’s royalty review advisory panel.
The panel will be responsible for listening to Albertans and stakeholders on what type of royalty structure the province should have. It will work under the principle that the owners of our oil and gas resources, the people of Alberta, deserve a royalty system that contributes to a strong, healthy economy where prosperity is shared.
“Albertans have asked our government to have a look at our royalty system to ensure we are striking the right balance. This is an important issue for Alberta families and it’s critical we get it right. That’s why we’re looking at all factors affecting our energy industries. A careful review of conditions and royalty rates will ensure stability and protect good jobs here at home.”
~ Margaret McCuaig-Boyd, Minister of Energy
“I was born in Alberta and have lived all across Canada, so I know just how important this work is for Alberta and the whole country. I will offer Albertans the facts and an honest discussion of the issues so that everyone has the opportunity to understand and trust the outcome.”
~ Dave Mowat, President and CEO, ATB Financial
Today’s news follows the announcement of an advisory panel to inform the government’s climate change strategy, chaired by Dr. Andrew Leach. That panel will begin consulting Albertans in July on ways to reduce greenhouse gas emissions, improve energy efficiency and promote innovation. The advice of both panels will be considered by government prior to any decisions on royalty structure.
The royalty review advisory panel will conclude its work by the end of this year. Mowat’s immediate work will be to recruit additional panel members.
Further steps in the royalty review will be announced later this summer, which will include how Albertans can participate.