More money for the province equals less money in my portfolio. Screw Alberta they don’t need roads, hospitals and environmental protection….

From Bloomberg:

Sept. 20 (Bloomberg) — Canadian stocks fell for a second day on concern that a proposal to raise royalties on oil and gas producers will hurt energy companies’ growth and profits.

Suncor Energy Inc., the world’s second-largest producer of oil from the tar-sands, paced declines for a second day. Barrick Gold Corp. led materials shares higher, as bullion hit a 27-year high and Canada’s dollar traded equal with its U.S. counterpart for the first time since 1976.

The royalty proposal is “continuing to hit stocks until it’s resolved,” said Michael Smedley, who helps manage the equivalent of $1.2 billion at Morgan Meighen & Associates in Toronto. “The oil-sands producers are already under pressure because of an a escalation of costs.”

The Standard & Poor’s/TSX Composite Index fell 67.12, or 0. percent, to 13,872.66 as of 12:22 p.m. in Toronto. The benchmark has dropped 5.1 percent from a July 19 record, paring its gain this year to 7.5 percent.