Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBC

Surging energy prices have propelled the taxes and royalties paid by public Canadian energy companies to around $48 billion this year, a 200-per-cent year-over-year increase, Michael Harvey, an analyst at RBC Capital Markets, the investment banking arm of Royal Bank, calculated.

In his research note, which was sent to RBC clients on July 19, Harvey said higher crude and natural gas prices were driving corporate profitability and setting the stage for higher royalties, taxes, and energy-related fees to all levels of government. Oil and gas royalties are typically based on sliding-scale formulas that see rates increase significantly at higher commodity prices.

viraniarif We already have tax

For global oil: Demand growing, supply increases limited. Sounds an awful lot like the housing and rental markets in Canada. YET the public dialogue about these separate industry's dynamics differ wildly.

brokeboycap

The purpose of the Windfall Tax is to punish, most likely.

kinsellawarren Will that be enough to pay the interest payment on all the 100's of $Billions Trudeau borrowed?

Then explain this

PnPCBC ctvqp theJagmeetSingh yfblanchet ElizabethMay BlockedByButts ForwardForEveryone capp environmentca ClimateAction 🤮🤮🤮

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBCRBC analyst says taxes and royalties paid by public Canadian energy companies have increased 200% this year. Read more and they took out more than 10 times that. shills Unhappy about $2/litre + gas? Jonsing to squawk online about it? Best to direct your “outrage” at climate warriors, Putin, and last but not least👇. cdnpoli gasprices Man O Man who would of guessed the the big banks would defend big oil ? What say you CPC?
Source: nationalpost - 🏆 10. / 80 Read more »

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBCRBC analyst says taxes and royalties paid by public Canadian energy companies have increased 200% this year. Read more
Source: financialpost - 🏆 7. / 85 Read more »

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBCRBC analyst says taxes and royalties paid by public Canadian energy companies have increased 200% this year. Read more Government lackies won’t bite the hand that feeds them. They don’t even pretend to work for the public anymore.
Source: VancouverSun - 🏆 49. / 61 Read more »

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBCRBC analyst says taxes and royalties paid by public Canadian energy companies have increased 200% this year. Read more
Source: fpinvesting - 🏆 43. / 63 Read more »