Next government confronts familiar tests — volatile oil prices and planning for future yyc yycbiz ableg abpoli abvotes Column by ChrisVarcoe:
“If everything remained as they are now and we spent the full contingency amounts, which I suspect is pretty likely, then we’d be looking at a deficit of about $1 billion,” said Tombe.Migration into the province remains strong, which will propel more economic activity.
The light-heavy oil price differential was forecast in the budget to average $19.50 a barrel this year; on Friday, it stood near $13.60 a barrel. The OPEC+ group will meet June 4 and any decision from the organization could influence the trajectory for global oil markets this summer. While the short-term volatility of energy markets will challenge the government, there are longer-term economic matters to deal with in the months ahead.
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