In the music industry, a musician may write hundreds of great songs, but can only make money from a song when it is produced and sold.
In the oil and gas industry, producers do the exploration and production work, then share their production with the Crown, the owner of the resource.
“Royalties are an important part of the Alberta government’s revenue stream. They help fund important programs like health, education and infrastructure. They ensure that Albertans receive a portion of the benefits arising from the development of the province’s energy resources.”
Source: Alberta Energy
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One of the main ways governments – and their citizens – benefit financially from the oil and gas industry is through royalties. PatchWorks recently produced two issues on the topic of royalties:
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