The New Regime in Natural Gas Pricing in Alberta
AbstractTraditionally, the price of petroleum and natural gas in Canada has been relatively low. However, recent changes in the international market have placed pressures upon the federal and provincial governments to reassess the pricing of these commodities. As consequence, Alberta has, in an effort to raise natural gas prices, passed the Arbitration Amendment Act, which forces the field price of gas towards the commodity value and the Natural Gas Pricing Agreement Act, which acts as an agreement with the federal government regarding natural gas prices. At the same time, the federal government has enacted the Petroleum Administration Act to regulate the price of crude oil and natural gas. This article discusses the various acts, in particular the Natural Gas Pricing Agreement Act, as well as the con stitutionality of such legislation and the future pricing of natural gas in Canada.
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