Brian Crombie Radio Hour - Epi 1682 - Alberta’s Oil Wealth: Where Did It Go? Energy, Pipelines, and Canada’s Economic Future

On The Brian Crombie Hour, Brian explores one of Canada’s biggest economic and political questions: how can a country with some of the world’s greatest natural resources create more lasting wealth for its citizens?Brian is joined by George Vandenberg, a chartered accountant, business adviser, and longtime researcher of the underground economy, for a provocative conversation about Alberta’s oil wealth, pipelines, energy security, national unity, and the future of Canada’s economy.Why doesn’t Alberta have a sovereign wealth fund comparable to Norway’s? Why do Canadian refineries continue to import some foreign oil despite Canada’s enormous energy resources? And could a stronger east-west energy strategy change Canada’s economic future?In Part 1, Brian and George examine Alberta’s oil wealth and the history of the Alberta Heritage Savings Trust Fund compared with Norway’s successful sovereign wealth model. They discuss how energy revenues have been used, whether Canadians have received the full benefit of decades of resource development, and where the profits from Canadian energy ultimately flow.The conversation then turns to pipelines and energy infrastructure. George explains why he believes Canada should reconsider major east-west energy corridors connecting Alberta with Ontario, Quebec, and Atlantic Canada. They explore the potential impact on Canadian refineries, petrochemical industries, LNG exports, energy security, and whether Canada can still build nation-building infrastructure.Brian and George also look west, discussing the possibility of expanding access to global markets through additional export routes, including the strategic importance of Pacific gateways, Indigenous partnerships, environmental considerations, and reducing Canada’s dependence on a single customer.The discussion then moves to Alberta separatism and national unity. George shares his perspective on how frustrated Albertans really are, whether separation has meaningful public support, and why addressing the economic grievances behind the movement remains important even if most Albertans ultimately choose to remain part of Canada.Finally, Brian and George explore the underground economy, global financial flows, and the challenge of ensuring more Canadian capital remains in Canada. They discuss pension investment, taxation, energy exports, insurance markets, and how natural-resource wealth can be transformed from short-term revenue into long-term prosperity.A wide-ranging and thought-provoking conversation about Alberta, energy, wealth creation, and one of the most important questions facing Canada:How do we ensure the resources beneath our feet create a stronger future for all Canadians?