Bloomberg Businessweek

Canada Tries the OPEC Way

Alberta’s effort to control the flow of crude is supposed to be temporary
Notley

When prices for Canada’s heavy crude collapsed late last year, Alberta did something quite out of character. The traditionally conservative, free-market-loving province took a page out of OPEC’s handbook and ordered its largest oil producers to throttle back output by about 325,000 barrels a day, the equivalent of almost 9 percent of daily production.

The move was an unprecedented intervention meant to rescue Canada’s oil producers—and the province’s tax revenue—from a lack of

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