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Comparing Alberta to Texas shows the province’s fiscal woes stem from government overspending and mismanagement, says a study released Thursday by the Fraser Institute.

“They’re both energy jurisdictions, they’re both relatively prosperous and they’re both coming off a lengthy period — with some bumps along the way — of prosperity,” said Ben Eisen, co-author of the conservative think-tank’s report entitled, One Energy Boom, Two Approaches: Fiscal Restraint Has Left Texas in Better Shape than Alberta.

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“Both the province and the state both enjoyed strong economic performance, but when you look at the fiscal situation in the two places, the story is quite different. … Texas is right now in much better fiscal condition than Alberta.

“The key finding is that while both enjoyed a strong economy between 2004 and 2014, Texas’s books are in pretty good shape and the fiscal outlook is much less bright in Alberta.”