Canada's Equalization Payment Puzzle

For years, Alberta has been shoveling its oil wealth into Quebec and other Eastern Provinces under a Canada-wide Equalization payment scheme designed decades ago to support the Have-Not Provinces.

Today, because of the Shale Oil revolution, Quebec and the Eastern Provinces may have more oil in the ground than Alberta.

Here is the catch.  The East refuses to develop its new-found resource bounty and instead continues chewing up equalization payment millions generated from Alberta’s finite oil and gas reserves.

It’s an oxymoron.  Equalization has morphed into financial rape.  The whole concept is well beyond its expiry date.  My advice?  Rape is wrong.  Alberta should follow the British lead.  The Brits just said no.