British Columbia is creating its own “stimulus package” by cutting royalties on drilling new natural gas wells in an attempt to boost its economy and combat Alberta, reports David Ebner of the Globe and Mail. From September through next June, all wells drilled in B.C. will be charged only 2 percent royalties, compared to a plan developed by Alberta earlier in the year that charges 5 percent. Energy Minister Blair Lekstrom says the program he dubs a “stimulus package” will generate revenue that will go toward education and health.
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