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From NAFTA renegotiations to the birth of the cannabis sector, plenty of game-changers impacted the economy in 2017, but — for better or for worse — the government-led energy transition packed the biggest punch.

Governments in Alberta and Ottawa worked hand-in-hand to wean the economy away from the Western-Canadian based fossil fuel industry in favour of clean energy. They did that by taxing carbon, jacking up oil and gas regulations, accelerating the shutdown of coal plants, and capping growth of the oilsands sector. They provided incentives to renewable energy and promoted economic diversification to soak up excess capacity – such as unemployed oil and gas workers and empty real estate, especially in Alberta. They also supported some major fossil fuel projects while discouraging others to show they are balancing energy and the environment.

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In reality, the giant government intrusion, tepid market response, no let up in anti-oilsands campaigns, disconnect from other jurisdictions — such as the United States, which is producing and exporting record levels of oil, and China, which really wants oil and gas from Canada, not lectures about the environment — keep raising questions about where it’s all going.