Who Should Own Revenues From Natural Resources In Canada
The question of who should hold jurisdiction over the rights of revenues generated from the exploitation of natural resources is not an easy question to answer. Currently, the responsibility lies in the hands of the provinces (Usher, 1995). However, considering the extremely uneven distribution of natural resources amongst the provinces, across this vast nation, questions are raised about the appropriate treatment of revenues from natural resources, specifically dealing with equalization payments (Boadway, 1983). The current equalization program has shown potential for equalization across provinces. Many argue that it does more damage than good, causing destabilizing effects on total fiscal resources of receiving provinces (Smart, 2004). If Canada were to initiate a new system of equalization, in which revenues generated by natural resources deemed to be of national interest (such as energy resources) were under the jurisdiction of the Federal government, and resources off less......
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