Alberta has been grossly mismanaged. Rather than invest windfall royalty back into this province this Government has elected to plough the profits back into reduced royalty rates.
At 19% Canadian, the rates are the lowest in the world but because of the nature of stock very little of this money come back to the province.
Alberta's conventional oil is now a "mature" resource. Deep wells and directional drilling are expensive. Using captured carbon to access deep well reserves is a good plan but will take years to get on line.
Now in recession with a Government that has only experience in mega surplus non budget performance, we see the fruits of our labours. I don't think this crew could manage a lemonade stand!