Over the past decade, the province of Alberta treated boom-time resource revenues like a permanent state of affairs. That set the province up for fiscal failure, for multiple lost opportunities.
It’s occasionally assumed that an environmentally sensitive approach is opposite that of a commercial approach—that ecological protection is necessarily at odds with ranching and farming.
In Alberta, to cushion the blow from falling revenues, some claim higher taxes will balance the books. How soon we forget. Alberta tried that in the late 1980s. It didn’t work.
Over the last decade, higher energy prices and entrepreneur-friendly policies drove Alberta’s booming economy, generating a significant windfall in government revenue.