Economic rent is thus the net revenues generated from the production of oil and gas. Royalties, fees and other taxes are used by government to collect energy rents from the producer, normally industry. In practice, however, governments seek a balance between maximizing rent collection and the objectives of economic development, investment and a fair tax regime for industry. Footnotes 1 Unlike Alaska and Norway, Alberta's public accounts provide no information on corporate income taxes paid to the province or federal government by the Alberta petroleum industry. For purposes of benchmarking Alberta with Norway and Alaska, it was necessary to use industry estimates of corporate income taxes paid.
Historical analysis excludes the corporate income tax figures.
2 Reserve life is the ratio of the volume of current total established reserves to current annual production. You folks did an excellent job analyzing a very difficult subject.