NDP oil royalty rate review earns praise from Ed Stelmach

Former premier Ed Stelmach islauding NDP premier RachelNotley for living up to her campaign promises,in particulara plan to review royalty rates.

"She'll follow through on the commitment," he said. "I'm sure that she'll meet with industry, she'll meet with investors, meet withAlbertans that will have their say."

Stelmachincreased royalty rates in 2007, but was forced to roll themback in face of fierce opposition from industry.

He said times are different now, because the price of oil, while low, is stable.

"At least we know what they're going to be for the next few months," he said.

"When we did ours, oil was $145 and then dropped down to $37 and it was at that time there was very little capitalization simply because the banks were worried about remaining alive and financially stable. It was quite different."

Stelmach was at the legislature Monday to hear thespeech from the throne.

Notley said Monday shewillannounceapanel to review the current rates bythe end of summer.