Alberta's Royalty Review isn't getting a lot of praise from the provincial opposition Wildrose party.

Royalty changes will only apply to new wells and won't take effect until 2017.

Wells drilled prior to that will maintain the existing royalty structure for the next 10 years.

The Canadian Association of Petroleum Producers has praised the review, saying it's serious about investment, but Highwood MLA Wayne Anderson says they're in a tough spot.

"Sure, for now I'd assume they want to say that because they don"t want to say anything negative at this time, I mean but consider they (the Government) brought in a carbon capture tax, the increased corporate tax, the increased minimum wage, you know, the carbon tax these are things that have heavily burdened the oil sector as we speak," Anderson says.

The rate structure for new wells also aims to reward producers for reducing their costs and innovation, which Anderson says they've always done.

"The energy sector has always been an innovative sector, I mean they've always been a good environmental student, and procurer of environmental technologies," he says. "But also to remain competitive in most private sector industries you're always looking for efficiencies."

Anderson says there's no guarantee the government will leave the royalty system alone if, or when, oil prices come back.