Since coming to power in 2019, Alberta Premier Jason Kenney may be inclined to paraphrase John Lennon: government is what happens when you’re making other plans. Even the Alberta government’s budget, which was released in late February, contains oil price estimates that are now massively out of date. Now, oil prices have ballooned over $100USD per barrel, meaning the royalties will continue to pour into the Alberta government’s coffers. Tombe estimates that a $30 per barrel increase in oil prices leads to a $5 billion decrease in the federal government’s deficit. At the same time, the Alberta government is projecting economic growth of 5.4 percent, which is expected to lead the country.

Source: National Post April 07, 2022 10:31 UTC