EDMONTON, Alberta — Alberta’s premier plans to announce Sunday whether her government will impose industrywide oil production cuts in the Canadian province.
The government said Saturday that Premier Rachel Notley will lay out the next steps to ensure Albertans get the best possible value for their energy resources.
The premier has released an op-ed piece in which she says the province must act now to deal with a growing glut of oil that she blames on a lack of pipeline capacity. Notley writes that there are two competing ideas for short-term relief — either let the market sort itself out, risking possible job losses and business closures, or intervene and temporarily restrict production.
Alberta has the world’s third-largest oil reserves and is the top source of foreign oil for the U.S.