How Alberta Is Getting Ripped Off by Big Oil

 

Alberta is home to some of the world’s largest oil reserves, but for a province so rich in resources, many Albertans are left wondering why they aren’t seeing the wealth they should. The truth is, while oil companies rake in billions, Alberta often gets the short end of the stick. Here's how.

1. Low Royalties, High Profits

Oil companies operating in Alberta pay some of the lowest royalties in North America. These royalties are supposed to be the province’s share of the profits from publicly owned resources. However, loopholes, deferred payments, and low rates mean oil giants keep a disproportionate chunk of the revenue while Albertans see limited return on their own resources.

2. Foreign Ownership Means Wealth Leaves Alberta

Many of the biggest players in Alberta’s oil industry are foreign-owned. That means profits from Alberta oil often end up in U.S. or overseas bank accounts—not reinvested in local communities, infrastructure, or healthcare. The people of Alberta shoulder the environmental, economic, and social impacts, while others reap the rewards.

3. Clean-Up Costs Pushed to Taxpayers

There are over 170,000 inactive and orphan oil wells across Alberta, many left behind by companies that made their money and walked away. Instead of oil corporations paying to clean up their mess, the burden is shifting to taxpayers. This isn't just bad economics—it’s corporate responsibility being ignored.

4. Boom and Bust Hurts Workers and Communities

The oil companies profit most during boom times, but when prices drop, it's workers and local communities who suffer. Layoffs, cutbacks, and abandoned towns are the norm. The industry profits from instability while everyday Albertans deal with the fallout.

5. Lack of Long-Term Vision

Despite decades of wealth from oil, Alberta hasn’t been able to build a strong, diversified economy. Norway, for example, used its oil wealth to create a trillion-dollar sovereign wealth fund. Alberta's Heritage Fund, by contrast, sits at a fraction of that. Why? Because much of the money left the province before it could be reinvested in the future.

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Alberta deserves a better deal. It’s time to rethink who really benefits from our natural resources—and demand that more of that wealth stays right here at home.

#AlbertaOil #BigOilProfits #OilRoyalties #AlbertaDeservesBetter #TakeBackTheWealth #OrphanWells #OilSandsTruth #AlbertansFirst #KeepItInAlberta

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