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When Public Money Funds the Private Oil Industry

Why on earth would an Alberta government agency need to borrow nearly $900 million? That’s the question Richard Masson, former director of the Alberta Petroleum Marketing Commission, is asking—and frankly, it’s one we’re all asking. The province has quietly authorized this commission to take on this colossal debt for “hydrocarbon marketing activities.” Translation: propping up the oil industry with taxpayer money. The Alberta government now allows oil sands producers to pay their royalties in barrels of oil rather than in cold, hard cash. The system is called BRIK—Bitumen Royalty In Kind. The commission then sells these barrels on the market and remits the proceeds to the government. Except that now, it can borrow massive amounts, buy stocks, grant loans, and create subsidiaries.

A Costly Phantom Pipeline

Masson doesn’t mince words: this money could be used to provide financial backing for a new pipeline project to the West Coast—a pipeline that no one wants to build. No private company is interested, but never mind that; Alberta has already poured more than $14 million into the preliminary phases and has just launched a website dedicated to the project. Let’s not forget, by the way, that the province has already burned through 1.3 billion dollars on the Keystone XL pipeline fiasco. But then again, what’s a billion more or less when it comes to oil?

A billion. Nearly a billion dollars in public funds to prop up an industry that’s slowly killing us. And meanwhile, hospitals are short on beds, schools are short on teachers, and roads need repairs. But no, the priority is to build a pipeline that nobody wants. It’s to ensure that the oil keeps flowing, no matter the cost. No matter the consequences. I look at these numbers and wonder: at what point did we lose our minds?

Sources

Drew Anderson, “What’s already happened with Alberta’s environment in 2026?”, The Narwhal, February 3, 2026, https://thenarwhal.ca/alberta-environment-roundup-2026/

Drew Anderson, “Investment in renewables plunges in Alberta,” The Narwhal, January 27, 2026, https://thenarwhal.ca/alberta-renewable-energy-investment-collapse/

Government of Alberta, press releases and official announcements, January 2026

CBC News, “Alberta APMC Borrowing Authority BC Pipeline,” January 2026

The Globe and Mail, “Alberta, Berkshire Hathaway, Montana, and the U.S. Claim Unfair Treatment,” January 2026

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