09/10/2015 05:33 EDT | Updated 09/10/2016 05:12 EDT

Alberta Royalty Review Chairman Says Stability Is Key

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CALGARY — The chairman of Alberta’s royalty review says the No. 1 thing his panel has heard in feedback from industry, government and Albertans alike is the need for stability and predictability in the energy sector.

Dave Mowat told radio station CHQR on Wednesday that it's now up to the panel to come up with a set of principals that apply whether the price of oil is at $30 a barrel or $100 a barrel.

He says it would then be up to oil companies and the Energy Department to make sure that resources are managed within those principles.

Mowat says if they do this right, there may never be a need for another royalty review in Alberta.

The goal is to be finished the review by the end of the year.

The royalty review advisory panel will now host community engagement sessions to gather input from citizens on the royalty framework. The sessions will be held in Grande Prairie, Fort McMurray, Calgary and Edmonton over the next few weeks.

For those Albertans unable to attend a session, there is a website set up to collect feedback at:

Reviewing whether Albertans are getting a fair slice of the province's oil and gas wealth was a key election promise from the NDP when it swept to power in May.