{"id":19682,"date":"2016-04-08T11:26:36","date_gmt":"2016-04-08T16:26:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19682"},"modified":"2016-04-08T11:37:39","modified_gmt":"2016-04-08T16:37:39","slug":"canadian-oil-industry-no-longer-sees-alberta-advantage","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19682","title":{"rendered":"Canadian Oil Industry No Longer Sees Alberta Advantage"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/Canadian-Oil-Industry-No-Longer-Sees-Alberta-Advantage.html\" target=\"_blank\">Canadian Oil Industry No Longer Sees Alberta Advantage<\/a><\/h3>\n<div class=\"column75-25 clear\">\n<div class=\"column75-25_1\">\n<div class=\"meta\">\u201cWho will stand up for Alberta\u2019s persecuted billionaire community?\u201d the headline of a popular political blog site sarcastically blared after the story broke last month about how wealthy and successful Calgary entrepreneur N. Murray Edwards had apparently relocated his residence to London for tax reasons. The article opened with the sentence, \u201cA billionaire is moving from Calgary and we should all be worried, the newspapers tell us.\u201d Obviously, some don\u2019t think this is a problem.<\/div>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>The story broke in the\u00a0<em>Calgary Herald<\/em>\u00a0on March 24 after publicly traded Magellan Aerospace Corp., a company controlled by Edwards, disclosed in its annual year-end filings its chairman resided in London, United Kingdom, not Calgary \/ Banff as had previously been the case. A few days later in its Annual Information Form, oil and gas producing giant Canadian Natural Resources Limited (CNRL) released the same information about its executive chairman.\u00a0<em>The Herald<\/em>\u00a0<a href=\"http:\/\/calgaryherald.com\/business\/energy\/calgary-business-icon-murray-edwards-decamps-from-calgary-to-london\">wrote<\/a>, \u201cTwo sources familiar with the situation who asked not be identified said Edwards is switching his residency to the U.K. For tax reasons.\u201d<\/p>\n<p>The increasingly reclusive Edwards has yet to publicly confirm or deny his departure from Calgary. But it is illegal for listed companies like Magellan and CNRL to knowingly publish false information in their regulatory filings. Therefore, it is safe to assume Mr. Edwards has indeed physically left Calgary. Whether rising corporate and personal income taxes are the reason is only speculation. However, it is not speculation to observe wealthy and successful entrepreneurs like Murray Edwards pay very close attention to tax rates. That\u2019s why they are wealthy and successful.<\/p>\n<p>Canada\u2019s battered oilfield services (OFS) sector should certainly be worried when a serial entrepreneur and wealth creator of Murray Edwards\u2019 reputation concludes for whatever reason Calgary is no longer his preferred place of residence.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Oil Industry No Longer Sees Alberta Advantage \u201cWho will stand up for Alberta\u2019s persecuted billionaire community?\u201d the headline of a popular political blog site sarcastically blared after the story broke last month about how wealthy and successful Calgary entrepreneur N. Murray Edwards had apparently relocated his residence to London for tax reasons. The article [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1082,13357,13358,13356,5623,12066,5332],"class_list":["post-19682","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-alberta","tag-calgary-herald","tag-canadian-natural-resource-limited","tag-canadian-oil-industry","tag-cnrl","tag-david-yager","tag-oilprice-com"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19682"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19682\/revisions"}],"predecessor-version":[{"id":19684,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19682\/revisions\/19684"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}