Chief Economist Charles St-Arnaud recently co-authored an opinion piece for the Globe and Mail with Glen Hodgson, a senior fellow at the C.D. Howe Institute.

The piece covers recent data released by St-Arnaud that explores how oil revenues are leaving the province and explores what this means for the future of Alberta’s economy. It also highlights Alberta Central and credit unions as sharing these insights.

Alberta Central, which serves the province’s credit unions, has analyzed the financial statements of major oil producers. It estimates the share of oil producer revenues being used for dividends and share buybacks has nearly tripled to 11 per cent today, compared with about 4 per cent in 2014. Most shareholders receiving the boost to income and asset values are not Albertan or Canadian, so there is financial leakage that is limiting overall provincial growth.

Click on the link above to review the article in full!

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