There is NOTHING in #abpoli more MISunderstood than the #PittanceRoyalties #ableg collects for the Crown's trillions worth of #bitmen
A thread...
The obvious reality of #ableg's #PittanceRoyalties is revealed by the root by .@OilGasCanada's own statstics and the root of #abpoli's giveaway #bitumen royalties.
All this has been peer-reviewed at post-secondary level thru UofA's @ParklandInst in 2010
parklandinstitute.ca/misplaced_gene…
The ridiculous royalty regime Alberta adopted same time as the #KyotoPotocol in 1997 was written by 6 #bitumen execs and adopted "in the main" by #RalphKlein
The trick is that all those 'costs' you hear about #abpoli's 'expensive' #bitumen? Those costs are paid by citizens, giving free oil for all capital costs, operating costs, transportation costs, as well as the cost of money.
Hard to believe, but unfortunately true.
Today's crowing about how much royalties #bitmen is paying need to be put into yhe context of the value of production from Fort McMurray. We only ever got a tiny share...
And today is no different. The surpluses the UCP insurgents have been spreading around still pale in comparison to the vast sums pocketed by a handful of license holders mostly owned by foreign shareholders.
$152B last year, almost entirely from #abpoli #bitumen
Even this figure from Parkland's 2010 report exaggerates the costs actually paid, but it still paints a stark picture explaining just how little we get for the trillions in carbon we're flooding the atmosphere with...
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