Montana woos disgruntled Alberta oil companies
Last Updated: Tuesday, October 30, 2007 | 1:02 PM MT
CBC News
The governor of Montana is marketing his state as an alternative for energy companies unhappy with the recent royalty increase in bordering Alberta.
"Our tax rate and regulatory environment is better in Montana than Alberta," Gov. Brian Schweitzer told the Calgary Chamber of Commerce Tuesday morning.
'Come on to Montana. You'll be welcome.'—Brian Schweitzer, governor of Montana
"When you drill in Montana, you don't even pay the tax for the first 12, 18 months. We have a tax holiday."
Schweitzer's pitch comes less than a week after the Alberta government announced it plans to charge energy companies $1.4 billion more in royalties for the right to develop the province's oil, gas and oilsands.
"So if some of you considered that with this new additional tax, you may move some of your dollars someplace else, come on to Montana," the governor said. "You'll be welcome."
In his speech, Schweitzer also suggested to the audience of energy executives that new refineries could be built south of the border.
Corrections and Clarifications
- The Alberta government plans to charge companies $1.4 billion more in royalties for the right to develop the province's oil, gas and oilsands, not $1.4 million as was originally written. Oct. 30, 2007|3:37 p.m. MT
