Federal and provincial governments are reeling from the impact of the lack of pipelines and new markets for Alberta crude - an alarming dilemma that could cost Canada more than a trillion dollars in lost economic activity.

With no quick fixes in sight, both the federal Conservatives and the Alberta Tories led by Alison Redford are now readjusting revenue projections and deferring plans to balance their respective budgets.

Read the whole story at The Calgary Herald