Sentences with phrase «federal oil royalties»
Defending Shell in a $ 40 million lawsuit concerning the alleged underpayment of federal oil royalties
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The price dive could put pressure on the federal government to the tune of $ 2.5 billion annually for the next four years, according to a fall economic update from Ottawa, and oil - producing provinces such as Alberta, Saskatchewan and Newfoundland are staring down revenue and royalty losses worth billions.
The federal government wants to distribute more of the oil royalties evenly across all the states in Brazil, instead of the lion's share going to states on the coast where the drilling occurs.
Evan Solomon: The government of Alberta, they point to these statistics: the oil sands creates $ 307 billion in tax revenue, $ 187 billion for the federal government, 23 % of employment is from oil sands, 7 % of employment in Canada from the oil sands and in Ontario alone, 7 %, they say, of employment comes from the oil sands and they say royalties of $ 1.9 billion fund programs across the country.
Either increased shipping capacity out of the Midwest or alternative markets for Canadian production would increase oil production profits for producers and the royalty and tax inflow for federal and provincial governments.
Of this $ 8.3 billion $ 1.3 billion are offshore oil and natural resource royalties which are transferred to the Newfoundland Offshore Petroleum Resources Revenues Fund and the Nova Scotia Offshore Revenues Account under federal agreement.
Indeed, at 24 per cent in 2012, it is considerably lower even than the ETR observed for the fifth North Sea hydrocarbons producer, the German Federal Land of Schleswig - Holstein, whose government has been increasing the statutory royalty rate in line with rising oil prices in recent years — from 12.5 per cent in 2003 to 21 per cent as of the time of writing — with the result that the ETR in the German sector of the North Sea in 2012 came to 33 per cent.
He sponsored legislation to ensure that states and tribes have a say in changes to federal coal, oil and gas royalties or leasing policy.
Instead of requiring perpetual subsidies, á la the «renewable» technologies that President Obama intends to redouble if he is reelected, the oil sands generate vast sums in royalties and taxes: an anticipated $ 690 billion into federal and provincial coffers all across Canada over the life of the project.
Interestingly, beyond this, despite considerable rhetoric about moving beyond debates about carbon - pricing, the report recommends that in order to avoid adding to the Federal debt, it would be necessary to impose new taxes, including increased royalties for oil and gas extraction, a tax on imported oil, a tax on electricity sales, and a «very small carbon price» (presumably from a modest carbon tax or unambitious cap - and - trade system).
The federal Petroleum Resource Rent Tax (PRRT) has replaced state royalties for new offshore oil and gas, so Victoria would not receive any royalty income from the new Dory gas project.
The Bureau of Land Management (BLM) announced in April that it is considering raising the royalty rate for oil and natural gas drilled on Federal lands — currently at 12.5 percent of drilling operations» production value.
The oil and natural gas industry contributes about $ 70 million a day, on average, to the federal government in revenue from taxes, rents and royalties.
Steve has published works dealing with mineral and royalty interests, environmental and reclamation regulation of mining, federal oil and gas leasing and mining in wilderness areas.