EDMONTON – Alberta Premier Danielle Smith says her long-term goal is to be able to balance the province’s books even with moderate oil prices.
She says in about 10 years she’d like Alberta to bring spending in line with revenues that average US$60-per-barrel oil would bring to provincial coffers.
Alberta’s latest budget, tabled last month, projected a $9.4-billion deficit in the upcoming fiscal year based on the price of the benchmark West Texas Intermediate at US$60.50 per barrel.
Global oil prices have since surged with the U.S.-Israeli war against Iran, at times seeing the WTI peak well above US$100 per barrel.
Smith made the comment while addressing funding concerns at the Rural Municipalities of Alberta conference in Edmonton.
A councillor from central Alberta told the premier that a lot of bridges could be washed out in his region, with more snow than expected this year.
Smith says with the province’s budget woes, it’s not possible to increase grants for the strategic transportation infrastructure program.