Related Articles
An oil refinery in Alberta
Opinion
Forward article link
Share PDF with colleagues

Letter from Canada: Alberta’s debt quagmire

The province’s strategy of stimulating economic diversification through oil revenue largesse has largely proved a failure

Alberta has long squandered its oil and gas wealth, behaving more like Venezuela than Norway. Instead of saving non-renewable resource revenue for a rainy day, let alone future generations of Albertans, the provincial government has instead used royalty revenues to provide high quality social services and keep taxes low—the so-called ‘Alberta Advantage’. It was hoped a healthy and well-educated population and low tax rates would encourage businesses in other industries to locate in laissez-faire Alberta to diversify the province’s economy. But this has not happened. Instead, it has rained heavily on Alberta since the middle of last decade, precipitated by the 2014-16 oil price crash, sinc

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Muscat faces up to oil twilight
15 June 2021
The Omani government’s focus is reluctantly shifting to managing output decline
Indebted KrisEnergy set for liquidation
15 June 2021
Disappointing Cambodian exploration results seal Singaporean independent’s fate
India needs tax and regulatory consistency – Cairn
15 June 2021
Rules for new prospects should be extended to mature fields, according to the domestic producer
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video