• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Alberta revises deficit to $7.5 billion, grapples with oil price differential

November 30, 201811:11 AM The Canadian Press0 Comments

EDMONTON – Alberta’s finance minister says the widening gap in the price Canadian oil is fetching won’t affect this year’s budget, but if left unchecked will mean hard times ahead.

Joe Ceci released the province’s second-quarter update for this year’s provincial budget.

The revised forecast predicts a further slight drop in the projected deficit to $7.5 billion when the fiscal year ends March 31.

That’s due mainly to higher-than-expected revenue from personal income taxes and $1.3 billion more than predicted in bitumen and crude oil royalties.

But those numbers are predicted to slip as the discounted price of Canadian oil creates a domino effect on Alberta’s economy.

Alberta oil is fetching far less by comparison on the market due to a supply glut, growing inventories and a pipeline bottleneck.

The province is now buying rail cars to get more oil to market.

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • India’s oil imports at near 3-yr high in December
  • New oil and gas jobs from BOE Report Jobs
  • Trudeau vows to keep up the fight to sway U.S. on merits of Keystone XL pipeline
  • Alberta urges Trudeau to press Biden, save Keystone XL pipeline
  • Column: Dear Joe Biden, aside from burning down the Whitehouse in 1814, we have been pretty good neighbours

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.