October 28 federal budget's focus on energy-portent for mining?

"The mining industry may have survived the October 28 federal budget relatively unscathed, but the same certainly cannot be said of the petroleum sector-and many mining men are left wondering if their industry will be the next one to be singled out for special attention, as federal and provincial governments seek additional revenues and pursue nationalistic or provincial policies.Higher taxes, higher prices, a potpourri of ""incentives"", and a -""Canadianization"" policy mark the principal features of the new National Energy Program released by the government along with Finance Minister MacEachen's budget address.This month, Tax Notes examines the federal budget. with appropriate emphasis on the National Energy Program and its possible future implications forthe Canadian resource industries.IntroductionMost of the Canadian mining industry (tar sands miners excepted) heaved a sigh of relief on the evening of October 28, 1980, as Finance Minister MacEachen confounded the prophets in his budget address by not raising personal or corporation taxes and by making only relatively modest changes in the general tax system. Instead, he concentrated on a sweeping new energy policy. Unfortunately for that important sector of Canada's mining industry which is involved in mining the country's vast tar sands reserves, either now or in the future, the National Energy Program that was introduced along with the budget 'has serious implications."