Have the Alberta NDP considered losses of revenue from petroleum and natural gas leases going back to the Crown?
I highly doubt it.
48% of Crown land is owned provincially, which means that our government makes significant revenue from the sale of these leases to oil and gas companies.
Over the past four years, oil and gas companies have spent over $5B dollars on land leases.
Once a lease is granted to the highest bidder and depending on the region of purchase, a company has two, four or five years to drill a well, produce, or prove potential production.
Recent drilling rig counts, which are a good gauge of land use, are at 25% utilization this week. This number is also down 25% from last year.
Think of the losses in revenue to the government when land leases aren’t being drilled.
What else has the NDP forgotten in their budget?
The NDP budget is a disaster. Over 50,000 are out of work. Investment is fleeing the province.
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