Source: Nia Williams, Reuters, March 21, 2019
Canada’s battered oil industry is rooting for the opposition in next month’s electionin energy heartland Alberta, investors said on Wednesday, but a brewing scandal involving the party’s leader could derail its hopes of an easy victory.
Alberta contains Canada’s vast oil sands, home to the world’s third-largest crude reserves.
With an economy nearly the size of Ireland, the province contributes almost 15 per cent of Canada’s gross domestic product.
But billions of dollars of foreign capital have fled the sector since 2017, partly because of lack of pipeline capacity.
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