Government Management of Oil and Gas in Alberta

Abstract

The author surveys, in considerable detail, the broad spectrum of provincial legislation and regulations relating to the exploration, development, and marketing of conventional Crown-owned oil and natural gas in Alberta. He evaluates and criticizes government management of these resources by reference to two criteria. The first such criterion is that of optimum "efficiency", which the author describes as being such allocation of labour and capital at such time as will result in the maximum possible net benefit to society. The second criterion is that of "equity", by which is meant distribution of benefits between government and private enterprise such that those revenues, in excess of necess..