Alberta cuts its oil output 5% more in Ottawa feud

Alberta, Canadian's major energy-producing province, reduced oil production 5 percent as part of its fight against federal energy policies. The cut followed one in March and brings the total cutback to 120,000 barrels a day. Alberta, which produces almost 90 percent of Canada's oil and much of its natural gas, is battling the national government's attempt to enlarge its share of energy revenues at provincial expense. It also objects to Ottawa's cheap oil policy, which sets the wellhead price at $17.75 a barrel, less than half the world price.

Unless Ottawa compromises on the issue, the province threatens to lower production another 5 percent Sept. 1 and delay new projects to process crude oil from Albert an tar sands.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK