November 17, 2018 (Calgary) –The government of Alberta should require oil producers to reduce production until bitumen prices are higher, and should also consider a royalty holiday once prices improve, says Alberta Party Caucus Energy Critic Greg Clark. 

 ”This is a national crisis,” said Clark. “Curtailing production is a dramatic step, but it’s the right thing to do to maximize the value of the resource that all Albertans own. 

“We’re giving our oil away for free. This has to stop.”

 Clark said that production should be curtailed for each producer on a percentage basis based on their production.  

“Once we’ve increased the return to Albertans we should also implement a temporary royalty holiday to ensure the viability of Alberta’s energy industry,” said Clark. “Provincial and Federal governments have failed Alberta by not building pipelines. We need short-term solutions to keep the industry viable and keep Albertans employed.” 

Clark called on the Minister of Energy to present options for curtailment and a royalty holiday within seven days.  

“The government should have the capacity and the information to do this analysis quickly,” said Clark. “Albertans deserve to see the details and the consequences, positive and negative, of a curtailment plan.” 

“Industry and investors need certainty that the value of the resource all Albertans own is maximized.”