The government boosted its take by 20 per cent with an eye to bringing in an extra $1.4 billion per year in revenue, but it brought major criticism from the oil and gas industry, which said the increases compounded the effects of falling demand and low oil and gas prices during the recession that followed.
The government of former premier Ed Stelmach reversed its position two years later.
"The reason I ran to be an MLA in 2008 was to change the decision that was made with respect to royalties and as soon as I got elected I started working with the energy industry to make sure that I understood there concerns," Redford told reporters before an evening speech to the Canadian Association of Petroleum Producers in Calgary.
"I took those concerns to Edmonton. We were successful in changing the policy and I've always had a very good working relationship with the energy industry."
Redford was the keynote speaker to more than 500 oil and gas executives at CAPP's 2012 Responsible Canadian Energy awards. She said her government has been looking out for the industry's best interests on issues ranging from the oilsands to pipelines.
"Your story is our story and we will never shy away from proclaiming our pride in it," she said in her speech. "Our agenda for the future of energy is all about finding ways to let you excel. And that includes listening to you and standing up for your interests."
As for relations that soured under Stelmach, Redford says things are good now.
"I've worked very closely with a lot of those organizations and I believe what we currently have in place with respect to royalties, regulatory enhancement and support for industry — with the work we're doing with respect to Keystone — shows we have a very clear alignment," she said.
"I am very happy with the support we've had from the energy industry."
CAPP president Dave Collyer said the industry is letting bygones be bygones but expects energy to be a major topic during the election campaign which is expected to begin next week.
"Given the prominence of energy in the province of Alberta it's hard to imagine it not being a topic of conversation," he said. "I think the industry from a policy perspective is in a relatively good place right now. We had the royalty adjustment which I think addressed many of the concerns that industry had.
"I said two years ago when the changes were made it's time to look forward. I think we're past that and we've got a lot of other challenges in front of us."