Hi Bbqdays,

I think you are right, that the new royalties have less effect when the bitumen prices are low.

However, when they kick in, I believe that the new royalties make Albert's oil and gas less attractive than Saskatchewan's for example. So companies have moved a considerable amount of their planned expenditures for 2009 outside of Alberta.

In the words of some CEOs, "Alberta is now not the most attractive business climate for the oil and gas industry". My opinion is that the new royalties are causing Alberta to lose billions of dollars in oil and gas investment .

I hope that you are having a great weekend.

Best Wishes,

Lynn