Oilsands companies say they pay enough

Oilsands companies say they pay enough
Last Updated: Friday, July 21, 2006 | 11:46 AM MT
CBC News

Energy companies don't like the Alberta environment minister's call for help in paying for municipal infrastructure in the Fort McMurray region.

Industry already contributes to the community through salaries, taxes and royalties, said Bob Shepherd, speaking on behalf of the Athabasca Regional Issues Working Group.

The province should use that money to ease growing pains in the Fort McMurray region, said Shepherd.

"We invest, we take risks, we pay royalties, we pay taxes, we pay salaries," he said. "All of these flow back to the government in various forms and they use those monies to fund the things people need."

http://www.cbc.ca/canada/edmonton/story/2006/07/21/hearing-folo.html

What came across in the audio portion is not so obvious in the written account. It was that the funds collected from personal taxes are being treated as taxes that the companies are paying. So it all is created by the companies.

A cartel priced commodity that has been in use for over a hundred years that is projected to increase steadily in value over the next fifty years or more?

Risk? Where's the risk part?

Nationalize the fuckers, so they can go out with their capital investment and DO what capitalists say they DO; build a better mouse trap. Innovate. Compete. Develop. Market Capture.

The type of thing that requires real RISK and not the speculative RISK of picking the wrong stock at the wrong time, so you don't make AS MUCH money.

They hooked into a sweet deal with the Alberta government a few years back where they don't have to pay full royalties (any really, when you consider what a joke 1% is) until the capital costs of a new plant are paid down. They are making money hand over fist with oil at $70 per barrel and royalties of 70 cents per barrel. 70 cents.