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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States 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 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: 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 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 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 »