We should learn from history. What the oil lobby glosses over is that this boom, like every other boom, could go bust. Instead of putting all our eggs in the oil sands basket, instead of digging up Alberta at a break-neck pace, we should be more balanced and strategic in our approach. And we should develop a plan to wean our economy off oil.

We looked at the $1.3 billion in taxpayer money our federal government currently hands to the oil industry in the form of subsidies and asked: what if, instead of subsidizing polluters, the money was invested in industries that cut pollution? We crunched the numbers and found that $1.3 billion invested in renewable energy or energy efficiency could create between 18,000-20,000 jobs.

Canada's entire "energy superpower" strategy hinges on high-priced oil, and a recent International Energy Agency report demonstrates that betting on high prices is risky. Canada should pin our future prosperity to the burgeoning renewables market, rather than doubling down on oil. It's the only choice we have for the sake of our environment. And it's the best path forward for our economy, too.

B.C.'s premier Christy Clark was right to walk away from a national energy strategy promoted by Alberta's Alison Redford at a provincial premiers' meeting in Halifax in late July. She just did it for the wrong reasons. Clark should have renounced the proposal because it's focused more on tar sands, pipelines, and markets than on getting Canada's greenhouse gas emissions under control.

Canada's premiers are meeting this week at the Council of the Federation and a Canadian energy strategy will be on the agenda. A sensible strategy would be one that works for all Canadians, both present and future -- not just Alberta.

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