Open Access<i>The Oil and Gas Conservation, Stabilization and Development Act, 1973</i>
Author(s) -
James Lowery
Publication year - 1975
Publication title -
alberta law review
Language(s) - English
Resource type - Journals
eISSN - 1925-8356
pISSN - 0002-4821
DOI - 10.29173/alr620
Subject(s) - constitutionality , expropriation , freehold , fossil fuel , natural resource economics , business , petroleum industry , economics , law , law and economics , political science , constitution , engineering , waste management , environmental engineering
The OH and Gas Conservation, Stabilization and Development Act, which was passed in Saskatchewan in 1973, has far reaching effects on the oil industry in that province, ranging from new forms of taxation to the expropriation of certain oU and gas rights. The Act imposes mineral income tax on freehold owners and on other persons interested in petroleum production and royalty surcharge on Crown lands. The group of potential taxpayers has been increased and the author discusses several accounting problems which arise out of the new system. major concern is the constitutionality of the Act. The author concludes by suggesting methods of drafting future agreements to minimize complications arising from the Act.