The importance of energy to the functioning of any economy has meant that energy industries are amongst the most regulated of industries. What might appear to be purely private decisions are made within a complex and evolving web of government regulations.

This book provides an economic history of the petroleum industry in Alberta as well as a detailed analysis of the operation of the markets for Alberta oil and natural gas, and the main governmental regulations (apart from environmental regulations) faced by the industry. The tools used within this study are applicable to oil and gas industries throughout the world.

ALAN J. MACFADYEN is Associate Professor Emeritus in the Department of Economics at the University of Calgary. In addition to initiating the energy economics program, he has authored numerous papers on energy and economics and has co-authored books on North American border issues and Alberta oil plays.

Alan MacFadyen's profile page

G. CAMPBELL WATKINS (1939-2005) was an adjunct professor of economics at the University of Calgary for twenty years. He went on to provide consulting services to a number of organizations worldwide and was recognized as an expert in energy policy and the application of economic analysis and statistical tools to the problems of the energy industry.

G. Campbell Watkins' profile page

“There is no other book which reviews the complete history of the Alberta petroleum industry and related economic and energy policy and institutional development.” - Dr. Gerry Angevine, Centre for Energy Studies, The Fraser Institute