Normally when a product experiences record-high prices, suppliers expand production capacity to meet demand.
Investors will invest in energy projects where expected risk-adjusted returns are highest.
The oil price differential is largely due to Canada’s lack of transportation capacity and restricted market access.
Canadian heavy oil producers will lose an estimated $15.8 billion this year in foregone revenues.
The Notley government increased spending by nearly 13 per cent over is first two full fiscal years in office.
When oil prices were high, successive governments spent freely as though the good times would never end.
Due to pipeline constraints, Canadian oil producers are selling unrefined bitumen at a fraction of the price many competitors receive.
Canadian oil and gas producers are unable to reach new Asian markets, costing the Canadian economy billions.
Alberta's overall net financial assets deteriorated by $9.2 billion last year.