Abstract
This paper is a discussion of allocation among the oil industry, the provincial governments, and the federal government of revenues arising from crude petroleum production in Canada. It argues that: I) the federal export tax and domestic price ceiling and subsidy on crude oil should be gradually withdrawn, for the sake of efficiency in resource allocation; 2) federal-provincial sharing of oil (and other natural resource) revenues could conveniently be based on the principle that all income should be treated similarly under taxation, or, specifically, that the federal share of provincial resource revenues should be the same as it would be if those revenues accrued to the private sector and were taxed accordingly.
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