Monday, January 20, 2014

History of Oil: it's about the money, too

While Neil Young is in on the road campaigning about treaties, uh, pipelines, uh..., well, he's out there anyway and getting a ton of coverage, The Tyee publishes a little piece on how Alberta's oil has been a financial disaster as well as an environmental one (not so good on the treaty front either). Writer Mitchell Anderson notes that Norway hit oil about the time Alberta did.  But now Norway has a nest egg of $900 billion dollars from its oil sales and is financially secure pretty much forever. Alberta has not contributed to its equivalent nest egg, the "Heritage Fund" since 1987, and its government borrows money every year to cover the provincial budget.
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