Oil – Pissing it away, again

Bumper stickers in Calgary read “Please God, give me one more oil boom. I promise not to piss it all away next time“.

We did though. Alberta’s oil funded savings account is an anemic $16 Billion while it has debt pushing $100 Billion. The City of Calgary flirted with bankruptcy while pursuing an Olympic bid until stopped by a plebiscite demanded by concerned citizens. No problem. Council then committed to $600 million for an NHL hockey arena while cutting the budget for police and fire service because there was no more money!

The Government of Alberta pushed oil sand production before oil companies knew how to deal responsibly with the environment. Now there is an environmental calamity in northern Alberta that will take billions to clean up.

The Alberta Advantage is now the Alberta Disadvantage.

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