How much money does alberta make from oil

Oil sands are a naturally occurring mixture of bitumen oil that is too heavy or thick to flow or be pumped without being diluted or heatedsand, clay or other minerals and water. Oil sands operators pay royalties on crude bitumen after the sand and other impurities have been removed. Diluent is added to allow bitumen to flow through pipelines to market. Upgraders process bitumen from the oil sands into synthetic crude oil, making it possible to transport and sell. Refineries refine the bitumen or synthetic crude into higher-value petroleum products that are sold to end-users. This includes muchh such as gasoline, diesel, aviation fuel and asphalt. Today, there are several refineries in Canada and the United States that accept Alberta’s bitumen. Most oil sands developments in Alberta are «Royalty Projects. It allows the operator of albeta oil sands project to pay royalties under the oil sands royalty regime. Any oil sands development without Royalty Project status will pay royalties according to the royalty rates for conventional aoberta.

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An analysis by The Narwhal of new data released by the province raises questions about whether Albertans are collecting a fair share of the wealth created by oilsands development. Royalties are the price charged by a resource owner — in this case Albertans — for a producer to extract and sell a non-renewable resource. Alberta has long been criticized for having royalty rates among the lowest in the world and failing to save for future generations. Since , oilsands production has soared from nearly , barrels a day to more than 2. According to recent projections by the National Energy Board, oilsands production will hit 4. That means the biggest oilsands companies paid a total royalty rate of The billion-dollar question is: how does this compare with what oil companies pay in other places around the world? To get a clear picture of that, you also have to consider corporate income tax rates. Documents filed by Kinder Morgan Canada to the U. Canada captures roughly 32 per cent of oil industry profits, far lower than some other major oil-producing nations. Different jurisdictions collect revenue on non-renewable public resources in different ways. Norway, for instance, charges a standard corporate tax rate of 23 per cent and a special petroleum tax rate of 55 per cent, bringing the total to 78 per cent. Boychuk estimates 10 per cent is a reasonable expectation for annual profits.

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That would leave 90 per cent on the table for resource owners and governments. The royalty regime was first recommended by the industry-stacked National Task Force on Oil Sands Strategies in the mids, and has been largely untouched since. According to the Alberta government, only 21 per cent of proven oil reserves in the world are open to private investment. Payout refers to the moment when all the revenues a project has generated finally overtake the costs incurred by a project in its lifetime. Royalty payments themselves are a deductible expense when calculating costs. Importantly, projects are assessed on an individual basis, not company wide. This means that a big, established company could bring on a new project and not have to pay serious royalties on it for years, compared to if it had been assessed company-wide, in which all profits would be charged regardless of the source.

Province’s ‘spending problem’ in spotlight: Finance Minister to cut 2.8 per cent from operating expenses, 7.7 per cent from workforce

It creates jobs and tax revenue for government which support the social programs and capital infrastructure projects we rely on. Oil sands facts, statistics and indicators are subject to change as new information becomes available. Unless otherwise stated, sources are from the Government of Alberta. Where applicable, external sources have been noted and linked. Crude bitumen production mined and in situ totalled about 2. Alberta’s upstream energy sector includes oil sands, conventional oil and gas, and mining and quarrying. Capital investment in this sector:. For the eighth fiscal year in a row, bitumen royalty made the largest contribution to provincial resource royalty revenue.

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In November, the Edmonton-based Parkland Institute released a report that suggested the opposite. The Big Five, which the report says control Suncor Energy Centre building in Calgary, Alta. Suncor has t he most assets, highest revenue and most employees of the Big Five, according to the Parkland Institute. Spring is annual-report season, so The Narwhal took another look at the Big Five in Canada to see how they fared in Suncor is the biggest player in Canada, with the most assets, highest revenue and most employees of the Big Five, according to the Parkland Institute. The company opened a brand-new open-pit mine, Fort Hills, in the oilsands last year. Suncor is headquartered in Calgary. Company comment: Sneh Seetal, a spokesperson for Suncor, did not provide additional comments to The Narwhal. Cenovus operates two projects in the oilsands, Christina Lake and Foster Creek, and holds permits for future developments.

Can Canada develop its climate leadership and its lucrative oil sands too?

How high will oil and gas prices have to go before The expanded pipeline had been bitterly opposed by indigenous and environmental groups—but is important for unlocking new Pacific markets for the Alberta oil sands. Why does Russia not have more competition in its o How were oil companies able to raise oil and gas p Karim Zariffa, the executive director of Oil Sands Community Alliance , an industry group, says the industry has tried to work closely with local and indigenous people over decades to share information and provide funding. Even worse, in their view, is the fact that the Trudeau government spent billions to buy the pipeline—money they would have liked to see improve the poor housing, water infrastructure, and energy deficits within indigenous communities.

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What is the future of oil and gas drilling in the About Me Jits View my complete profile. In, people were employed in the U. Behind the scenes, Taft says, there was ffrom pressure by the oil industry on Trudeau to get the pipeline built. According to «USA Today,» thriller novelist Michael Prescott has sold more thancopies of his self-published e-books by pricing them at 99 cents per copy. For years, many Secwepemc First Nations people have been rallying to protect their water and prevent an expansion of the Trans Mountain pipeline from being built through their territory.

Novelists write fictional books in paperback, hardback, and e-book formats. Because the sale of novels depends on the market, there is no traditional salary for a novelist. The novelist will earn money in a variety of ways, including advances during the writing process and royalties from book sales.

Where and how the novelist decides to publish his work will also influence earnings. These numbers are for freelance writers and authors of books, though, and novelist income is harder to pin down because usually, income depends on book sales and contracts. A working novelist could be compared to a small business owner, because the amount of product sold will determine the novelist’s salary, or income, for a particular year.

Novelists who self-publish have the advantage of keeping all the income from their book sales after expenses.

Unlike going through a traditional publisher, there is no royalty and no agent takes a percentage of the net proceeds. However, self-publishing novelists must cover their monej print costs if they produce print books.

Many self-publishers opt to publish e-books instead, as the costs are minimal. These authors must work to market their own books, however, and cannot expect the wide readership that a traditional publisher might be able to capture. According to the Selfpublishingadvisor website, a self-published author spends 20 percent of her time writing and 80 percent of her time marketing the book.

Because she earns oik only when books mucu sold, she might earn anywhere from nothing to hundreds of thousands. This number will depend on the number of buyers. Some self-published authors are very successful. According to «USA Today,» thriller novelist Michael Prescott has sold more thancopies of his self-published e-books by pricing them at 99 cents per copy.

Advances can be anywhere from a few hundred dollars to millions of dollars. The advance is a sum of money given to the author when the author signs a contract with a publisher. The number is reached through several factors. The potential sales of the book influences the amount of the advance, as the author should «earn out» the advance or sell enough copies to cover mucj. The publisher withholds all royalties from book sales until enough sales have been made to cover the author’s advance.

After that number is met, the author typically begins earning royalties on sales. According to Forbes. Rowling tops the list of highest paid authors in the world. These authors stand out because many of their frm have been turned into films. Sometimes producers buy options for film rights, meaning they buy the right to produce the story as a film. An option, according to John Marlow, author of the technothriller, «Nano», may last anywhere from one to three years and the author is paid a small amount for the option.

Then, if the film is produced, the author earns much. Results depend heavily on the success of the book and potential for ticket sales. In order to increase pay, a novelist should widen her audience. According to «Writer’s Digest,» an author should male about her book. A well-done blog can grab the attention of an agent or publisher and can land the how much money does alberta make from oil a book deal. Establishing an audience before publishing the book can guarantee higher book sales and increase the opportunity for a large advance.

The best-selling novelists earn large advances because they have large, faithful audiences who follow their books. Publishers know that they are guaranteed to sell a alberrta amount of copies based on prior success. Bureau of Labor Statistics. In, people were employed in the U.

Jan Archer holds a Bachelor of Arts in political science and a master’s degree in creative writing. Roth has written trade books for Books-a-Million and has published articles on green living, wellness and education topics.

She taught business writing, literature, creative writing and English composition at the college level for five years. Skip to main content. Rowling’s Film Fee U. About the Author Jan Archer holds a Bachelor of Arts in political science and a master’s degree in creative writing.

Accessed 18 January Archer, Jan. How Much Do Novelists Make? Work — Chron. Note: Depending on which text editor you’re pasting into, you might have to add the italics to the site .

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CALGARY — Following spending cuts across the private sector, the Alberta government tabled a budget Thursday that makes deep cuts to the public sector, but that relies on a surge in oil and gas revenues to balance the books in four years. Next year, the province expects to cut jobs. Toews said the cuts are necessary to reach a balanced budget in The budget also accounts for a reduction in corporate income taxes in how much money does alberta make from oil province to eight per cent from 12 per cent over the next four years.

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Toews said the expectations of higher non-renewable resource revenues were based on a cautious outlook for oil and gas prices and new pipelines. Gulf Coast, Trans Mountain Corp. Alberta endured a brutal recession that began in when global oil prices collapsed, and its recovery has been slowed by a lack of new pipelines, which has thwarted the growth of its main industry and resulted in continued job losses, including at Calgary-based Husky Energy Inc. The railcar purchase business case carried a number of risks and assumptions never adequately disclosed to Albertans.