Alberta — home to Tar Sands – is $12 billion in debt, compared to oil producing Norway which has a $1 trillion in reserves. Why? Norway taxes the oil companies big time.

By Mitchell Anderson,

Norway gets $46.20 in royalties per barrel vs $4.04 in Alberta.

“Even if oil was worth nothing tomorrow, the country would still have no public debt, fully funded social programs that we can only dream of, and a very large nest egg to transition to a new economy.”

So why on earth would Contra Costa County follow Alberta’s example…and not Norway’s?

chart oil