Bitumen to us, profits to companies

Dear editor,

“When you see our operating costs in the low $30 a barrel range,…” SUNCOR President Rick George was quoted in the Edmonton Journal on page A2, Sept. 24.

Since capital costs are paid for by Albertans though oil royalty holidays, and the oil companies collect a decent percentage on those costs, $40 per barrel of oil is too much profit and not enough royalties.

The BRIK (Bitumen Royalty In Kind) has been a catastrophe for revenues.

Instead of being paid in refined oil or cash, Albertans collect their royalty in raw bitumen, for which we must then find a buyer, or a refiner, who always happens to be a big oil company.

Is any Albertan surprised at the low valuation of bitumen by these conglomerates?

The Stelmach Stumblers have fallen down on the job again.

Don McGregor

Edmonton

Just Posted

WATCH: Canada Winter Games are finally here

Final leg of torch relay kicked off at Fort Normandeau

Furever Ours dance coming to Botha

Tickets still left for “Furever Ours” dine and dance

Stettler Lightning prepare to battle Wranglers in playoffs this week

Stettler Lightning finish their regular season with a 14W-14L-7OTL

Almost 10,000 arrows shot at 3rd annual Wm E Hay Nockbuster winter shoot

Both junior and senior high Stettler Nockbuster teams placed first

Fashion Fridays: Up your beauty game

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Red Deer RCMP arrest man after vehicle theft from dealership

Police were able to disable the SUV with assistance from the built-in vehicle assistance system

Red Deer College transforms into Athletes’ Village

Red Deer College’s campus will be home for the athletes during the 2019 Canada Winter Games

Alberta minor hockey team, slammed for Indigenous dance video, forfeits season

Parents say season was too dangerous to finish because the team has been threatened

Trump officially declares national emergency to build border wall

President plans to siphon billions from federal military construction and counterdrug efforts

Alix resident captures beams of light near Lacombe

Lacombe, Blackfalds, Red Deer photos have since gone viral around the world

Father to be charged with first-degree murder in Amber Alert case

11-year-old Riya Rajkumar was found dead in her father’s home in Brampton, Ontario

Red Deer man loses car after being caught twice driving with suspended licence

The Ponoka Integrated Traffic Unit ticketed the man in December and on Valentine’s Day

January home sales were weakest since 2015, average national price falls: CREA

CREA says the national average price for all types of residential properties sold in January was $455,000

Most Read