Danny Millions State Capitalist

Published: September 13, 2007, 10:55 am

Tags: oil, petroeconomy, ed stelmach, state capitalism, alberta, newfoundland, danny williams, big oil, oilsands

Quick someone tell the Tired Old Tories in Alberta, Oil companies accept state capitalism. That whippersnapper Danny Williams is demanding a stake in oil development, on top of royalties. While in Alberta the same oil companies whine about any increase in their royalty windfall of paying 1% annually for 25 years. The government of Newfoundland has agreed to buy a 5 percent stake in a planned expansion of Husky Energy Inc's White Rose offshore oil field, Canadian Press reported on Wednesday.The Canadian province of Newfoundland plans to take a 10 pct stake in new oil and gas projects off its coastline, the province's government said. The demand was contained in the provinces 35-year energy plan released yesterday by Premier Danny Williams. The province will take a 10 pct stake in future offshore oilfields if they meet long-term strategic objectives and will pay its share of exploration and development costs, he said.Newfoundland wants a bigger share in future energy projects, and

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