Venezuela’s and Canada’s Very Different Approaches to Oil

With the recent surge in oil prices, long-standing debates about Canadian and Albertan oil policy have been infused with new vigour. Is Canada getting the most out of this precious natural resource? What are we doing with our wealth?

Canada and Venezuela represent the most important sources of oil outside the Middle East—and as heavy oil extraction methods improve, they may surpass even that black-gold mine. But their approaches to oil revenue could not be more different.
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