Alberta feels the pain
Home to the marginal barrel, Canada’s energy patch is hurting from the price collapse. But oil sands output is still rising and resistance is building
Canada’s former prime minister Stephen Harper once boasted that his country would become a “global energy superpower” by 2020. Buoyed by $100-a-barrel crude and endowed with abundant resources of oil sands and natural gas, his country seemed on pace to become the world’s fourth-largest energy producer, behind Saudi Arabia, Russia and the US. Now, just a few months after Harper was turfed from office in Canada’s federal elections, those aspirations have been indefinitely put on hold, if not dashed. Alberta’s oil patch has been through as many busts as booms, but rarely have downturns been as bad as this one. Canada’s dependence on petroleum exports means its economy has fared worse than most
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026






