Notice of motion: Municipal share of Provincial oil sands royalties
First brought to Council: September 12, 2011
Outcome: Referred to Intergovernmental Affairs Committee as amended
It is no secret that oil sands production is a major economic driver in Alberta. Oil sands operations bring trillions of dollars into the province and billions to the provincial government through royalties. A June 2011 independent study by the Canadian Energy Research Institute showed the Government of Alberta may see oil sands royalties increase five-fold in the next six years.
The Alberta oil sands also put tremendous growing pressures on municipalities in Alberta. Anyone who has lived in Calgary for 10 years or more can attest to the rapid growth in population and industry they have witnessed in that time. The tax-bases that municipalities have at their disposal are reactive to this growth, often causing higher than normal property tax increases and an extra burden on individual taxpayers.
Allocating even a small portion of royalties from Alberta's oil sands to Calgary and other Alberta municipalities would significantly ease the tax burden felt by their taxpaying citizens. Alderman Peter Demong brought a motion to Council proposing that Mayor and Council work toward procuring at least 10% of oil sands royalties for Alberta's municipalities.
Categories: Motions and Initiatives