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Alberta, which derives a quarter of its economy from the oil sands and other energy resources, is poised to grow at the slowest pace in five years as crude prices slump, ATB Financial’s Todd Hirsch said.

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Analysis: As oil prices slide, Western oil investors are reviving their dream of slaying the OPEC dragon. But nobody has an energy plan and everyone is panicking. Read on





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The western Canadian province’s economy will expand by 2.5% to 3% in 2015, about half a percentage point less than this year, the bank’s chief economist said at an event in Calgary Thursday. The slowdown follows annual average growth of 4.6% in the past four years.

The West Texas Intermediate and Brent oil benchmarks extended losses to four-year lows Thursday after OPEC signaled it remains unwilling to reduce output to ease a supply glut. The decline of more than 30% from June highs for those crudes means that, while major oil-sands producers will probably sustain the development of projects, smaller ones may scale back investment, Hirsch said.