Sometime toward the end of November, the Alberta government will release their 2nd quarter fiscal update. Finance Minister Robin Campbell will likely tell us that the second quarter was another good quarter but that the good news is coming to an end and the 1st quarter projection of a $3 Billion bonus will be revised. The reason of course is that oil prices are down again. The budget projected $95 oil (WTI) and today’s spot price is under $79. For every drop of one dollar in the price of oil (WTI) the government treasury loses $215 million.
As much as Premier Jim Prentice wants (Read more…)