Ever notice how in Alberta people are very anti-welfare or social assistance? But when corporations want welfare that is cool… hypocrtical no?

Sept. 28 (Bloomberg) — EnCana Corp., Canada’s largest natural-gas producer, said it will cut its 2008 investment in Alberta by about C$1 billion ($1 billion) if proposed increases in oil and gas royalties are adopted in full.

Many developments would no longer be economically viable under the higher royalties, Calgary-based EnCana said today in a statement. A government-appointed panel on Sept. 18 recommended Alberta increase royalties to reap additional benefits from rising energy prices.

EnCana’s announcement is “necessary posturing” aimed at putting pressure on Alberta Premier Ed Stelmach to water down the panel’s recommendations, said Frank Atkins an economics professor at the University of Calgary. Alberta’s economy will continue to be driven by oil-sands projects since the panel told the government to keep royalties low on such projects until companies recover their investments, he said.

Link.