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Everyone saw Alberta’s bad news budget this week another huge deficit and our net debt now surpassing $100 billion. (Hard to believe that only 16 years ago we were debt-free.) What Albertans did not see is that Ottawa’s equalization program will still be treating Alberta as a “have province,” which means we will be paying rather than receiving. The equalization budget for 2021 is projected to be just over $20 billion, and, as usual, Quebec will be receiving two out of every three of those dollars.
What’s new is this. We now have learned that over the last decade, as Alberta’s debt spiralled to previously unimaginable levels, Quebec has socked away $11.6 billion in a newly created Generations Fund “with the goal of reducing Quebec’s debt burden.” Yes, that would be the same Quebec that, with a big assist from the Trudeau Liberals, blocked the construction of the Energy East pipeline.
How Alberta went from Klein s paid in full years to record debt in 2021 budget edmontonjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from edmontonjournal.com Daily Mail and Mail on Sunday newspapers.
Posted: Feb 26, 2021 4:00 AM ET | Last Updated: February 26
Alberta budget offers few cuts, more debt
The National1 month ago
2:01
The Alberta government s latest budget is far from the fiscal reckoning Premier Jason Kenney had long promised. Instead, there are very few cuts and lots of debt a situation the province blames on the pandemic and shrinking oil revenue.2:01
MacKinnon: In a pandemic, there are higher priorities than considering new taxes edmontonjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from edmontonjournal.com Daily Mail and Mail on Sunday newspapers.
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After being stuck in the doldrums last year, three key energy markets for Alberta are seeing a sudden resurgence.
Prices for electricity, natural gas and oil have all been moving up this year, providing a temporary boost for power generators and petroleum producers â and leading to higher prices for consumers.
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Try refreshing your browser, or Varcoe: Oil, gas and Alberta power prices take off in same direction â up Back to video
West Texas Intermediate (WTI) crude prices surged more than $2 a barrel on Monday to close at US$61.69. Prices have rallied by 27 per cent this year and some analysts expect recent gains to hold, despite ongoing uncertainty surrounding the global pandemic and the pace of vaccinations.