Lamphier: Despite current oil-based pains, there is still black gold at the end of the rainbow for Alberta

EDMONTON – It’s just peachy that ex-Suncor boss Rick George expects the big discounts on Alberta crude to narrow sharply by 2014.

But oil producers and provincial taxpayers shouldn’t count on that, according to Alberta Energy Minister Ken Hughes and Finance Minister Doug Horner.

“It is entirely possible that this will take a much longer cycle to work its way through. So I’m not thinking we’re facing (just) a couple of years of pressure on differentials,” says Hughes.

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