Sentences with phrase «on oil royalties»

Not exact matches

Avoiding a pileup will depend on how she handles three things: oil and gas royalties, pipeline development and climate change action.

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 Panel excluded any discussion of the environmental impacts of oil sands development, although they did allow the consideration of increased oil prices generated by the pipeline on the taxes and royalties associated with forecast future oil sands production.

* Depending on the other project parameters and oil prices (I've used the U.S. Energy Information Administration 2013 reference case as well as a $ 15.00 differential between WTI and diluted bitumen), the foregone royalties and taxes can even be slightly larger than the foregone profits to the operator.

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.

Cuts to the highest per - capita spending in Canada will doubtless be part of the budget Premier Alison Redford unveils on March 7, but a shortfall on the revenue side, namely oil and gas royalties, has prominent Albertans calling for a more stable source of funding: a provincial sales tax.

In a characteristic jab at his less energetic Asian neighbors, he explains: «We haven't got oil and minerals on which other people have to pay royalties.

The carbon footprint of a given barrel of oil over any other was not really on the political map when Chrétien was changing the tax code to finance a mine and Klein was rewriting the royalty regime to make it easier to expand the industry.

Since then, Alberta has only become even more dependent on resource royalties, as production from the oil sands continued to march higher.

There are also additional hidden expenditures already on the table such as royalty relief programs for Enhanced Oil Recovery (EOR) which effectively use oil in the ground to pay for CCS over and above the $ 2 billion CCS fuOil Recovery (EOR) which effectively use oil in the ground to pay for CCS over and above the $ 2 billion CCS fuoil in the ground to pay for CCS over and above the $ 2 billion CCS fund.

Second, the value of bitumen relative to the value of heavy oil was lower than expected, leading to a lower than expected royalty base on which the province was collecting royalties at lower than expected rates due to low WTI prices.

In the case of an oil spill cleanup, the costs are likely to be directly incurred by an insurance company, but the premiums paid for that insurance come at the expense of the value of the oil transportation service — the higher the expected clean - up costs from oil spills, the higher insurance premiums will be, and this will mean higher pipeline tolls, which in turn implies lower profits, taxes, and royalties on the products shipped.

My friends in the industry say this is a ludicrous oversimplification for a number of reasons including (1) Kenney's valuation is based on what he called the «current global market value» ($ 60 / barrel) which doesn't apply to bitumen, (2) he hasn't included the cost of extraction or the fact producers would never dump that much oil onto the market at once and (3) Albertans only get royalties, not the entire amount.

Alberta has a revenue problem and if we should have learned anything since the international price of oil collapsed in 2014, it is that we should not depend on royalty revenues from oil and gas to fund the day to day operations of our public services.

The savvy Canadian is the co-founder and chairman of Toronto based Franco - Nevada (FNV 94.06 1.61 %) and pioneered the royalty business model in the gold mining sector based on the model used in the oil - and - gas industry.

However, Ghana is a member of the Extractive Industries Transparency Initiative (EITI), which requires countries with a heavy dependence on oil, gas, and mining industries to accurately report taxes, royalties, and fees paid by extractive companies.

Overriding royalty interest: In an oil and gas program, a compensation arrangement giving the general partner a percentage of the gross income, on top of the other royalties.

So, as time goes on we're probably going to feel it even more, directly in terms of the royalty revenues from oil from our provincial government.

Currently companies pay 12.5 - 18.8 % to the feds for on and offshore oil development, while the lowest Interior Department proposal fixes the royalty rate for oil shale at 5 %.

For example, an «energy security fee» of $ 3.50 per barrel of imported oil would raise approximately $ 15 billion annually; reduced fossil fuel subsidies as proposed by the administration could generate upwards of $ 35 billion over ten years; a utilities electricity fee could raise at least $ 2 billion annually, as included in the Kerry - Lieberman American Power Act; and royalties on new offshore continental shelf drilling could raise more than $ 100 billion over twenty years.

If he can't find new lands or waters to open to oil and gas production, the only other other alternative is to propose an increase in royalties and fees on existing oil and gas producing lands.

Raising $ 2 billion over ten years — or a modest $ 200 million annually — would thus require increasing royalties by just 15.8 cents per barrel of oil and 2.7 cents per million British thermal units (MMBtus) of natural gas (assuming the necessary revenues were spread across oil and gas on an equal energy - content basis).

So both the CBO budget procedures and the GOP's position on using royalties for an energy R&D trust fund means that if President Obama wants to secure truly bipartisan support for this new Energy Security Trust proposal and ensure it doesn't increase the deficit, he's ultimately going to have to offer a real trade: new oil and gas production areas for new revenues dedicated to clean energy R&D.

Likewise, dedicating a small fee on oil and gas production (or consumption) or a portion of increased royalties from energy production on public lands would ensure that as we enjoy relatively cheap and abundant energy supplies today, we are also setting aside the funds needed to make steady investments in the advanced energy technologies needed to secure cheap and abundant energy in the future.

To illustrate, Alberta collected just $ 827 million in royalties on oil sands company sales of $ 120 billion in 2016 (note that this figure also includes downstream revenues).

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).

(Sec. 383) Allows a lessee to withhold from payment any royalty due and owing to the United States under any leases under the Outer Continental Shelf Lands Act for offshore oil or gas production from a covered lease tract if, on or before the date that the payment is due and payable to the United States, the lessee makes a payment to the state of 44 cents for every $ 1 of royalty withheld.

The province will exercise its existing right to receive «royalty - in - kind» on oil sands projects (i.e. raw bitumen delivered to the Crown - operated Alberta Petroleum Marketing Commission in lieu of cash royalties).

The government will increase its royalty share from oil sands development by introducing price - sensitive formulas both pre - and post-payout, rather than implementing an industry - wide tax on oil sands production.

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 Center for American Progress (CAP) recommended that BLM increase the royalty rate for oil and gas drilled on public lands by at -LSB-...]

Another progressive approach is to rebate the carbon tax revenues equally to all U.S. residents — a national version of the Alaska Permanent Fund, which for decades has annually sent identical checks to all state residents from earnings on investments made with the state's North Slope oil royalties.

When the U.S. Council on Foreign Relations, a non-partisan group, explains that low taxes and low royalties have driven rapid oil sands development, Canadian taxpayers should pay full attention.

But companies do not pay a royalty on the global price of oil but on bitumen, a viscous crude, based on a valuation system developed by the Canadian Association of Petroleum Producers.

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.

The primary point of contention stems from Clement's abrupt, involuntary reassignment to an office that collects oil company royalty checks from his post as top policy advisor, where he focused primarily on the deleterious effects of climate change on Alaskan communities.

Alaska, which pays dividends to its citizens from royalties imposed on oil companies, could provide inspiration (just as Romneycare in Massachusetts pointed the way to Obamacare).

Normally the royalty rate paid by oil and natural gas companies for producing on public lands is 18.8 %.

It's not about the environment and all about the royalties: Money Received From Leases Far Lower Than Conventional Oil Salazar called the leases «flawed» because the 5 % royalty rate paid for oil shale production on those lands «sells the taxpayers short&raquOil Salazar called the leases «flawed» because the 5 % royalty rate paid for oil shale production on those lands «sells the taxpayers short&raquoil shale production on those lands «sells the taxpayers short».

Sure, he's taken executive action that attempts to address climate change, but if he and Democrats were as radical as some people think they are, we'd be seeing either an end to all drilling and mining on public lands or a nationalization of the process, with royalties coming back to the taxpayer instead of filling the pockets of Big Oil.

Mark focuses not only on personal injury, commercial, and insurance cases, but also complex oil and gas litigation representing royalty owners, operators, and lessors.

Over the course of his career, Darin has worked on lease priority disputes, surface use agreements, farmout agreements, joint operating agreements, unit operations, royalty disputes, drilling contracts, joint interest accounting, NEPA compliance, and various other aspects of oil and gas operations in the Rockies, in addition to general commercial litigation.

Michael's practice involves all aspects of corporate / commercial litigation and arbitration, with a focus on oil and gas law, contract disputes, royalty disputes, fraud claims and insurance matters.

On November 3, 2017, the Newfoundland and Labrador Government published new Offshore Oil Royalty Regulations replacing the Royalty Regulations, 2003...

Louisiana is losing out on mineral royalties owed by bankrupt oil and gas companies due to the unique way the state classifies royalties as «rent,» and a legal advisory committee is working on a fix.

However, it has also drastically reduced the revenues of oil exporting countries, whose governments rely heavily on oil and gas royalties to finance budgets and loan repayments.

In 1998, Eugene and Marjorie Cooper («Owners») entered into an oil, gas, and mineral lease with Bayou Black Royalty Company for a fifty acre tract of land on which their home was located.

Texas has a high sales tax of 6.25 percent, taxes on motor vehicles sales and fuel, and taxes and royalties on oil and natural gas production.