Federal Aid for Alberta's Slumping Economy?

Up to a quarter-billion dollars in federal assistance could be on its way to Alberta in the coming weeks.

Falling commodity prices--specifically oil--battered the economy of the province that's home to 4.1 million people. To make matters worse, Alberta's government projects a double-digit dip in revenues for 2015-16. 

Alberta's eligible for the fiscal stabilizatoin program because its revenues fell more than 5 percent from one year to the next. 

Bill Morneau, the nation's finance minister, said Ottawa would push through any request as quickly as possible.

Based on its population, Alberta can receive no more than $250 million. A regulation from the late 1980s caps the payments at $60 per provincial citizen.