11/18/2016 12:56 EST

Alberta vs. Texas: Study Shows Why Similar Economies Face Opposite Fiscal Realities

Similar economies, opposite fiscal realities.

Alberta and Texas – both energy-rich jurisdictions, both coming off economic booms due to falling oil prices, both feeling the pinch.

However, a new study from the Fraser Institute suggests that mismanagement and government spending has left Alberta in a worse slump than the Longhorn State.

"When you look at the fiscal situation in the two places, the story is quite different," Ben Eisen, co-author of One Energy Boom, Two Approaches: Fiscal Restraint Has Left Texas in Better Shape than Alberta, told the Edmonton Journal.

"Texas is right now in much better fiscal condition than Alberta."

According to their findings, here's why Texas comes out on top: