Energy industry on 'pins and needles' ahead of Alberta royalty review
A dump truck works near the Syncrude oil sands extraction facility near the town of Fort McMurray, Alberta on Sunday June 1, 2014. (Jason Franson/THE CANADIAN PRESS)
Lauren Krugel, The Canadian Press
Published Thursday, January 28, 2016 11:34AM EST
CALGARY - Alberta's oil and gas industry is on tenterhooks as it awaits the findings of the province's royalty review.
A four-member panel has spent the past five months examining how the province charges energy firms to extract resources.
Premier Rachel Notley will announce a new royalty framework in Calgary on Friday based on the panel's recommendations.
Energy Minister Marg McCuaig-Boyd has said if there are any changes to the royalty system, they wouldn't take effect until the beginning of next year so that companies have time to adjust.
The review also took into account Alberta's new climate change policy and the effect of new carbon charges on industry players.
Mark Scholz, head of the Canadian Association of Oilwell Drilling Contractors, says royalty rates should be reduced to offset the higher carbon costs.