More Taxpayer subsidies to the Oil patch!

[cropgrower]

whining about oil while the billions get transferred and canada destroyed , shows how clueless you are cc , and that report was from dec 22 , will be far far worse now

[blackpowder]

I assume those plays are small firm, small investor developments.

[chuckChuck]

So freehold roylaties pay around 15% for the mineral holder.

But Scotty Moe and the Sask Party see fit to subsidize the already very lucrative oil patch with a 12.5% reduction in royalties down to a very low 2.5% on the first 100,000 barrels for crown owned minerals? Huh?

Is that the best deal you can negotiate? Apparently not if you are the Sask Party that gets a lot of out of province donations from the oil industry!

They reward their corporate friends and supporters with super low cut rate royalties on a resource that belongs to all citizens. A handout to an industry that has made record profits on the backs of already stressed consumers.

Drilling Incentives


Newly drilled oil wells in Saskatchewan qualify for "volume based" drilling incentives ranging from 0 to 16,000 cubic metres. Qualifying incentive volumes are subject to a maximum royalty rate of 2.5% for Crown production and a maximum production tax rate of 0% for freehold production. Refer to Information Circulars PR-IC03 ([url]https://publications.saskatchewan.ca/api/v1/products/75624/formats/84563/download[/url]) (vertical wells) and PR-IC05 ([url]https://publications.saskatchewan.ca/api/v1/products/75626/formats/84565/download[/url]) (horizontal wells) for further information.
Newly drilled exploratory gas wells in Saskatchewan qualify for a 25,000,000 cubic metre "volume based" drilling incentive. The qualifying incentive volume is subject to a maximum royalty rate of 2.5% for Crown production and a maximum production tax rate of 0% for freehold production. Refer to Information Circular PR-IC04 ([url]https://publications.saskatchewan.ca/api/v1/products/75625/formats/84564/download[/url]) for further information.


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