IMPERIAL: ALBERTA SHORT OF INCENTIVES

There is strong potential for increased oil development and recovery in Alberta, but it won't be pursued under present fiscal rules, says Imperial Oil Ltd. The company, in a submission to an economic planning conference sponsored by the Alberta government, said increased conventional oil recovery will require a change in economics. Higher recovery rates can't be pursued profitably now at prices less than $30/bbl when current royalties amount to $8/bbl and taxes $2/bbl, all in U.S.

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