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Alberta Royalty Review
The 2007 Alberta Royalty Review was an independent panel, chaired by William M. Hunter, established by the government of Alberta to review the level of resource royalties collected by the provincial government from petroleum and natural gas companies. In their final report entitled "Our Fair Share" released on September 18, 2007 the panel concluded that Albertans, who own their natural resources, were not receiving their "fair share" from energy development. Royalty rates and formulas had "not kept pace with changes in the resource base and world energy markets." As a result of the review new regulations came into effect under the Alberta Mines and Minerals Act including the Petroleum Royalty Regulation, 2009, and the Natural Gas Royalty Regulation, 2009. The government of Alberta expected to collect approximately $2 billion annually with new royalty formulas implemented in 2009. Instead of an increase in royalties on oil and gas, Alberta collected $13.5 billion less from 2009 to 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Alberta
The government of Alberta (french: gouvernement de l'Alberta) is the body responsible for the administration of the Canadian province of Alberta. As a constitutional monarchy, the Crown—represented in the province by the lieutenant governor—is the corporation sole, assuming distinct roles: the executive, as the ''Crown-in-Council''; the legislature, as the ''Crown-in-Parliament''; and the courts, as the ''Crown-on-the-Bench''. The functions of the government are exercised on behalf of three institutions—the Executive Council; the Legislative Assembly; and the judiciary, respectively. Its powers and structure are partly set out in the ''Constitution Act, 1867''. Alberta operates in the Westminster system of government. The political party or coalition that wins the largest number of seats in the legislature forms government, and the party's leader becomes premier of Alberta and ministers are selected by the premier. In modern Canadian use, the term ''Government of Albert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Of Oil
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level. The global price of crude oil was relatively consistent in the nineteenth century and early twentieth century. This changed in the 1970s, with a significant increase in the price of oil globally. There have been a number of structural drivers of global oil prices historically, including oil supply, demand, and storage shocks, and shocks to global economic growth affecting oil prices. Notable events driving significant price fluctuations include the 1973 OPEC oil embargo targeting nations that had supported Israel during the Yom Kippur War ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Mercantile Exchange
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. The company's two principal divisions are the New York Mercantile Exchange and Commodity Exchange, Inc (COMEX), once separately owned exchanges. NYMEX traces its history to 1882 and for most of its history, as was common of exchanges, it was owned by the members who traded there. Later, NYMEX Holdings, Inc., the former parent company of the New York Mercantile Exchange and COMEX, went public and became listed on the New York Stock Exchange on November 17, 2006, under the ticker symbol NMX. On March 17, 2008, Chicago based CME Group signed a definitive agreement to acquire NYMEX Holdings, Inc. for $11.2 billion in cash and stock and the takeover was completed in August 2008. Both NYMEX and COMEX now operate as designated contract markets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude oil, Maize, corn, and gold. Other definitions of commodity include something useful or valued and an alternative ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underlying
In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be used for a number of purposes, including insuring against price movements ( hedging), increasing exposure to price movements for speculation, or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the Chicago Mercantile Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmark (crude Oil)
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition. Benchmarks are used because there are many different varieties and grades of crude oil. Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price. West Texas Intermediate (WTI) West Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parkland Institute
The Parkland Institute is an Alberta-wide, non-partisan research institute, situated within the Faculty of Arts at the University of Alberta. The Institute studies economic, social, cultural, and political issues using the intellectual approach of Canadian political economy. The Institute was founded in the fall of 1996, and first came to public attention in February 1997 when it co-published with the University of Alberta Press the book ''Shredding the Public Interest: Ralph Klein and 25 Years of One-Party Government'' by researcher Kevin Taft. Then-Alberta premier Ralph Klein accused Taft of promoting "communism" and the book quickly became a best-seller. In addition to publishing and disseminating the findings of research, the Parkland Institute has hosted an annual conference each November at the University of Alberta since 1997. History The Parkland Institute was founded in 1996 by Gordon Laxer, a political economist in the University of Alberta's sociology department, who b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Alberta
The University of Alberta, also known as U of A or UAlberta, is a public research university located in Edmonton, Alberta, Canada. It was founded in 1908 by Alexander Cameron Rutherford,"A Gentleman of Strathcona – Alexander Cameron Rutherford", Douglas R. Babcock, 1989, The University of Calgary Press, 2500 University Drive NW, Calgary, Alberta, Canada, the first premier of Alberta, and Henry Marshall Tory,"Henry Marshall Tory, A Biography", originally published 1954, current edition January 1992, E.A. Corbett, Toronto: Ryerson Press, the university's first president. It was enabled through the Post-secondary Learning Act''.'' The university is considered a "comprehensive academic and research university" (CARU), which means that it offers a range of academic and professional programs that generally lead to undergraduate and graduate level credentials. The university comprises four campuses in Edmonton, an Augustana Campus in Camrose, and a staff centre in downtown Cal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural-gas Condensate
Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure. The natural gas condensate is also called condensate, or gas condensate, or sometimes natural gasoline because it contains hydrocarbons within the gasoline boiling range, and is also referred to by the shortened name condy by many workers on gas installations. Raw natural gas may come from any one of three types of gas wells: * Crude oil wells: Raw natural gas that comes from crude oil wells is called ''associated gas''. This gas can exist separate from the crude oil in the underground formation, or be dissolved in the crude oil. Condensate produced from oil wells is often referred to as ''lease conden ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naphtha
Naphtha ( or ) is a flammable liquid hydrocarbon mixture. Mixtures labelled ''naphtha'' have been produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. In different industries and regions ''naphtha'' may also be crude oil or refined products such as kerosene. ''Nephi'' and ''naphthar'' are sometimes used as synonyms. It is also known as Shellite in Australia. Etymology The word ''naphtha'' is from Latin and Ancient Greek (νάφθα), derived from Middle Persian ''naft'' ("wet", "naphtha"), the latter meaning of which was an assimilation from the Akkadian ''napṭu'' (see Semitic relatives such as Arabic ''nafṭ'' petroleum" Syriac ܢܰܦܬܳܐ ''naftā'') and Hebrew נֵפְט ''neft'' (meaning petroleum). In Ancient Greek, it was used to refer to any sort of petroleum or pitch. There is a hypothesis that the word is connected with the name of the Indo-Iranian god Apam Napat, which occurs in Vedic and in Avestic; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Western Canadian Select
Western Canadian Select (WCS) is a heavy sour blend of crude oil that is one of North America's largest heavy crude oil streams and, historically, its cheapest. It was established in December 2004 as a new heavy oil stream by EnCana (now Cenovus), Canadian Natural Resources, Petro-Canada (now Suncor) and Talisman Energy (now Repsol Oil & Gas Canada). It is composed mostly of bitumen blended with sweet synthetic and condensate diluents and 21 existing streams of both conventional and unconventional Alberta heavy crude oils at the large Husky Midstream General Partnership terminal in Hardisty, Alberta. Western Canadian Select—the benchmark for heavy, acidic (TAN <1.1) crudes—is one of many s from the |
Canada Revenue Agency
The Canada Revenue Agency (CRA; ; ) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes, administers tax law and policy, and delivers benefit programs and tax credits. Legislation administered by the CRA includes the ''Income Tax Act,'' parts of the ''Excise Tax Act'', and parts of laws relating to the Canada Pension Plan, employment insurance (EI), tariffs and duties. The agency also oversees the registration of charities in Canada, and enforces much of the country's tax laws. From 1867 to 1999, tax services and programs were administered by the Department of National Revenue, otherwise known as Revenue Canada. In 1999, Revenue Canada was reorganized into the Canada Customs and Revenue Agency (CCRA). In 2003, the Canada Border Services Agency (CBSA) was created out of the CCRA, leading to customs being dropped from the agency's mandate and the agency's current name. The CRA is the largest organiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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