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Governments Demand a Bigger Share of Oil

TORONTO -- The oil industry is under assault globally by nations and even provinces who want companies like Exxon Mobil, Chevron and Suncor to cough up more royalties they can use to address issues like poverty and education, according to the Assosiated Press.

First it was Venezuela. Now, Nigeria is reviewing its relationships with international oil companies and the oil-rich Canadian province of Alberta is set to announce a decision Thursday on increasing royalties from the energy industry. It's a move the industry warns could devastate Alberta's oil patch.

Posted by Peter C. T. Elsworth  at 9:49 AM to Crude oil market | Permalink

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