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Policy Canada is an energy surplus county which is aligned with OPEC countries for its Crude oil export Canada has good quantity of gas and petroleum reserve in western Canada Alberta alone produces about 80 of the total crude oil production International energy agency Although Albertas oil and gas dont have any significant role world market but it has very important role in trade with other provinces and continental America Alberta supplies around 10 of the American oil imports Albertas economy is thus heavily dependent upon non renewable gas and oil Energy policy of Canada thus plays a vital role in Albertas Oil industry The energy policy of Canada was never steady which helps other oil importing provinces and by joining Kyoto Protocol production of oil in Alberta faces certain uncertainty Most of the Albertas oil discovery took place in 1950s and 1960s At that time control over natural resource was under provincial government and this gave provincial government of Alberta to control oil fields The government at that time took had off policy The goal of the policy was to encourage multinational big companies will produce oil of their own and provincial government be benefited with royalties and this money will be used to develop the province But the first oil shock changed federal government to change its policy In 1973 for Arab-Israel war OPEC increased the price 70 and refused to sell oil to west Alberta wanted to exploit the situation and gain as much profit as it can make But the price increase of Albertas oil hampered the oil importing provinces and this made federal government freeze oil price Although world market price was high importing provinces got Albertas oil in cheap with federal involvement Again when Trudeaus government was in serious trade deficit federal government wanted share from oil export His government formed National Energy Programme NEP to get control over provincial government in energy sector Federal government formed Petro-Canada
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