Providing Certainty: The Royalty Guarantee Act
From the platform: Royalty Guarantee Recent Alberta governments shook investor confidence with royalty reviews. A United Conservative government will guarantee in law that the royalty regime in place when a well is permitted will remain in place for that project in perpetuity.
Constant royalty reviews under previous governments sent shockwaves to investors and did damage to our energy sector.
That’s why we made the Royalty Guarantee promise before the last election.
And we kept our promise.
Our world class energy producers need certainty that a future government won’t change the rules or the costs for their investments.
Thank you to our @UCPCaucus for working around the clock again last night to keep our commitments to Albertans.— Jason Kenney (@jkenney) July 4, 2019
In the wee hours of the morning, despite NDP delays, they passed final reading of Royalty Guarantee Act & made progress on the Senate Election & Open for Business Act.
The Royalty Guarantee Act guarantees that no major changes will be made to the current oil and gas royalty structure for a period of at least ten years.
Promise made. Promise kept.