Financial Post | Business

With world oil prices staying comfortably above US$100 a barrel, Alberta should be living large and cashing in on the boom.

Instead, Albertans have been robbed of their windfall by a shortage of pipeline space and by competing new oil production in the United States.

The mix has depressed Canadian oil prices so much that the provincial government warned Monday its March 7 budget for 2013/2014 will make a big course correction from big spending to big belt-tightening.

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