Alberta
Alberta announces 11.6 billion surplus

Strong year-end positions Alberta for stability
A solid end to 2022-23 secures Alberta’s long-term financial outlook and provides stability against future economic uncertainty.
Alberta ended the fiscal year with an $11.6-billion surplus, exceeding the Budget 2022 projected surplus by $11.1 billion. In 2022-23, the province paid down $13.3 billion in debt, eliminating an estimated $260 million in debt servicing costs annually and reducing the overall debt burden on Albertans.
The province’s strong financial situation also resulted in the market value of the Alberta Heritage Savings Trust Fund growing by $2.5 billion to $21.2 billion. The Heritage Fund’s year-over-year growth was primarily due to actions taken by the Alberta government to retain $1.25 billion in net investment income from 2021-22 and deposit $753 million into the fund.
Growing the Heritage Fund benefits current and future generations of Albertans by ensuring the province is well equipped to handle future uncertainty.
In March of this year, Alberta’s government made legislative changes to ensure the fund continues to grow to support Albertans now and in the future. These changes allow the government to retain all investment income within the Heritage Fund instead of it being transferred to general revenue.
“The 2022-23 year-end report is a very positive one. We promised to keep our economy moving forward and Alberta is reaping the benefits. Albertans can rest easy knowing that Alberta’s prosperity today means more stability tomorrow as we continue to pay down debt and save for the future.”
Alberta’s government remains committed to responsible financial management. For the current and subsequent years, Alberta’s new legislated fiscal framework will continue to address Alberta’s unique economic and revenue volatility. The framework requires government to put at least half of any surplus toward debt repayment, with the remainder going toward additional debt repayment, the Heritage Fund or one-time initiatives that do not permanently increase government spending.
Revenue
Revenue in 2022-23 was $76.1 billion, $13.5 billion more than estimated in Budget 2022, including:
- $25.2 billion in non-renewable resource revenue, $11.4 billion more than estimated in Budget 2022.
- $26.5 billion in tax revenue, $3.5 billion higher than estimated in Budget 2022. This included:
- $8.2 billion in corporate income tax, $4.1 billion more than estimated in Budget 2022.
- $13.9 billion in personal income tax, $543 million more than estimated in Budget 2022.
At the time the Budget 2022 forecast was developed, the global economy was experiencing significant uncertainty related to COVID-19, global growth and energy demand. Budget 2022 was based on a West Texas Intermediate (WTI) forecast of US$70 per barrel in 2022-23.
Oil prices surged last year due to many global factors. WTI reached US$120 per barrel in June 2022 and averaged US$89.69 for the 2022-23 fiscal year, a large reason for the increase in resource and corporate income tax revenue.
Expense
Expense in 2022-23 was $64.5 billion, $2.4 billion more than estimated in Budget 2022, including:
- $25.2 billion in health expense to expand capacity and for higher costs in response to Albertans’ evolving health-care needs.
- Investments of $8.9 billion and $6.1 billion in K-12 and post-secondary education, respectively, providing quality learning for Alberta’s youth and building on the province’s world-class post-secondary environment.
Among other factors, the overall increase from Budget 2022 was due to:
- A $2.2-billion increase in operating expense, mainly for health, increased compensation costs from settled agreements, electricity rebates and other affordability measures, and the cost of selling oil.
- A $300-million increase in COVID-19 recovery costs.
- A $167-million increase in debt servicing costs, mainly due to the impact of higher interest rates.
Affordability
In response to rising living costs, Alberta’s government introduced a series of affordability measures in 2022-23 that helped slow inflation and make life more affordable for Albertans. In 2022-23, the government provided $2.9 billion in affordability supports, including:
- $1.1 billion for the fuel tax relief program, funded through a reduction in revenue.
- $304 million for indexation of the personal income tax system to inflation retroactive to the 2022 tax year, funded through a reduction in revenue.
- $644 million for electricity rebates.
- $441 million for affordability payments to eligible seniors, families with children and vulnerable Albertans on core benefits programs.
- $51 million for indexation of benefit payments to inflation (Alberta Seniors Benefit, Assured Income for the Severely Handicapped, Income Support, Persons with Developmental Disabilities).
To further reduce the cost burden on Albertans, Alberta’s government recently extended the pause on the collection of the provincial fuel tax, saving Albertans 13 cents on every litre of gasoline and diesel until the end of 2023.
Alberta
Calls for a new pipeline to the coast are only getting louder

From Resource Works
Alberta wants a new oil pipeline to Prince Rupert in British Columbia.
Calls on the federal government to fast-track new pipelines in Canada have grown. But there’s some confusion that needs to be cleared up about what Ottawa’s intentions are for any new oil and gas pipelines.
Prime Minister Carney appeared to open the door for them when he said, on June 2, that he sees opportunity for Canada to build a new pipeline to ship more oil to foreign markets, if it’s tied to billions of dollars in green investments to reduce the industry’s environmental footprint.
But then he confused that picture by declaring, on June 6, that new pipelines will be built only with “a consensus of all the provinces and the Indigenous people.” And he added: “If a province doesn’t want it, it’s impossible.”
And BC Premier David Eby made it clear on June 2 that BC doesn’t want a new oil pipeline, nor does it want Ottawa to cancel the related ban on oil tankers steaming through northwest BC waters. These also face opposition from some, but not all, First Nations in BC.
Eby’s energy minister, Adrian Dix, also gave thumbs-down to a new oil pipeline, but did say BC supports expanding the capacity of the existing Trans Mountain TMX oil pipeline, and the dredging of Burrard Inlet to allow bigger oil tankers to load Alberta oil from TMX at the port of Vancouver.
While the feds sort out what their position is on fast-tracking new pipelines, Alberta Premier Danielle Smith leaped on Carney’s talk of a new oil pipeline if it’s tied to lowering the carbon impact of the Alberta oilsands and their oil.
She saw “a grand bargain,” with, in her eyes, a new oil pipeline from Alberta to Prince Rupert, BC, producing $20 billion a year in revenue, some of which could then be used to develop and install carbon-capture mechanisms for the oil.
She noted that the Pathways Alliance, six of Canada’s largest oilsands producers, proposed in 2021 a carbon-capture network and pipeline that would transport captured CO₂ from some 20 oilsands facilities, by a new 400-km pipeline, to a hub in the Cold Lake area of Alberta for permanent underground storage.
Preliminary estimates of the cost of that project run up to $20 billion.
The calls for a new oil pipeline from Bruderheim, AB, to Prince Rupert recall the old Northern Gateway pipeline project that was proposed to run from Alberta to Kitimat, BC.
That was first proposed by Enbridge in 2008, and there were estimates that it would mean billions in government revenues and thousands of jobs.
In 2014, Conservative prime minister Stephen Harper approved Northern Gateway. But in 2015, the Federal Court of Appeal overruled the Harper government, ruling that it had “breached the honour of the Crown by failing to consult” with eight affected First Nations.
Then the Liberal government of Prime Minister Justin Trudeau, who succeeded Harper in 2015, effectively killed the project by instituting a ban on oil tanker traffic on BC’s north coast shortly after taking office.
Now Danielle Smith is working to present Carney with a proponent and route for a potential new crude pipeline from Alberta to Prince Rupert.
She said her government is in talks with Canada’s major pipeline companies in the hope that a private-sector proponent will take the lead on a pipeline to move a million barrels a day of crude to the BC coast.
She said she hopes Carney, who won a minority government in April, will make good on his pledge to speed permitting times for major infrastructure projects. Companies will not commit to building a pipeline, Smith said, without confidence in the federal government’s intent to bring about regulatory reform.
Smith also underlined her support for suggested new pipelines north to Grays Bay in Nunavut, east to Churchill, Manitoba, and potentially a new version of Energy East, a proposed, but shelved, oil pipeline to move oil from Alberta and Saskatchewan to refineries and a marine terminal in the Maritimes.
The Energy East oil pipeline was proposed in 2013 by TC Energy, to move Western Canadian crude to an export terminal at St. John, NB, and to refineries in eastern Canada. It was mothballed in 2017 over regulatory hurdles and political opposition in Quebec.
A separate proposal known as GNL Quebec to build a liquefied natural gas pipeline and export terminal in the Saguenay region was rejected by both federal and provincial authorities on environmental grounds. It would have diverted 19.4 per cent of Canadian gas exports to Europe, instead of going to the US.
Now Quebec’s environment minister Benoit Charette says his government would be prepared to take another look at both projects.
The Grays Bay idea is to include an oil pipeline in a corridor that would run from northern BC to Grays Bay in Nunavut. Prime Minister Carney has suggested there could be opportunities for such a pipeline that would carry “decarbonized” oil to new markets.
There have also been several proposals that Canada should build an oil pipeline, and/or a natural gas pipeline, to the port of Churchill. One is from a group of seven senior oil and gas executives who in 2017 suggested the Western Energy Corridor to Churchill.
Now a group of First Nations has proposed a terminal at Port Nelson, on Hudson Bay near Churchill, to ship LNG to Europe and potash to Brazil. And the Manitoba government is looking at the idea.
“There is absolutely a business case for sending our LNG directly to European markets rather than sending our natural gas down to the Gulf Coast and having them liquefy it and ship it over,” says Robyn Lore of project backer NeeStaNan. “It’s in Canada’s interest to do this.”
And, he adds: “The port and corridor will be 100 per cent Indigenous owned.”
Manitoba Premier Wab Kinew has suggested that the potential trade corridor to Hudson Bay could handle oil, LNG, hydrogen, and potash slurry. (One obvious drawback, though, winter ice limits the Hudson Bay shipping season to four months of the year, July to October.)
All this talk of new pipelines comes as Canada begins to look for new markets to reduce reliance on the US, following tariff measures from President Donald Trump.
Alberta Premier Smith says: “I think the world has changed dramatically since Donald Trump got elected in November. I think that’s changed the national conversation.”
And she says that if Carney wants a true nation-building project to fast-track, she can’t think of a better one than a new West Coast oil pipeline.
“I can’t imagine that there will be another project on the national list that will generate as much revenue, as much GDP, as many high paying jobs as a bitumen pipeline to the coast.”
Now we need to know what Mark Carney’s stance on pipelines really is: Is it fast-tracking them to reduce our reliance on the US? Or is it insisting that, for a pipeline, “If a province doesn’t want it, it’s impossible.”
Alberta
Central Alberta MP resigns to give Conservative leader Pierre Poilievre a chance to regain a seat in Parliament

From LifeSiteNews
Conservative MP Damien Kurek stepped aside in the Battle River-Crowfoot riding to allow Pierre Poilievre to enter a by-election in his native Alberta.
Conservative MP Damien Kurek officially resigned as an MP in the Alberta federal riding of Battle River-Crowfoot in a move that will allow Conservative Party of Canada leader Pierre Poilievre to run in a by-election in that riding to reclaim his seat in Parliament.
June 17 was Kurek’s last day as an MP after he notified the House Speaker of his resignation.
“I will continue to work with our incredible local team to do everything I can to remain the strong voice for you as I support Pierre in this process and then run again here in Battle River-Crowfoot in the next general election,” he said in a statement to media.
“Pierre Poilievre is a man of principle, character, and is the hardest working MP I have ever met,” he added. “His energy, passion, and drive will have a huge benefit in East Central Alberta.”
Kurek won his riding in the April 28 election, defeating the Liberals by 46,020 votes with 81.8 percent of the votes, a huge number.
Poilievre had lost his Ottawa seat to his Liberal rival, a seat that he held for decades, that many saw as putting his role as leader of the party in jeopardy. He stayed on as leader of the Conservative Party.
Poilievre is originally from Calgary, Alberta, so should he win the by-election, it would be a homecoming of sorts.
It is now up to Prime Minister of Canada Mark Carney to call a by-election in the riding.
Carney had promised that he would “trigger” a by-election at once, saying there would be “no games” trying to prohibit Poilievre from running and win a seat in a safe Conservative riding.
Despite Kurek’s old seat being considered a “safe” seat, a group called the “Longest Ballot Committee” is looking to run hundreds of protest candidates against Poilievre in the by-election in the Alberta Battle River–Crowfoot riding, just like they did in his former Ottawa-area Carleton riding in April’s election.
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