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Alberta

Province says books will be balanced again by 2022-23

Published

5 years ago

5 minute read

Premier Jason Kenney and Finance Minister Travis Toews present the 2020 Budget: A Plan for Jobs and the Economy.

From the Province of Alberta

Third-quarter results show the deficit has declined more than expected. With the deficit $1.2 billion lower than projected in Budget 2019, Alberta taxpayers can expect to pay $35 million less in debt-servicing costs.

Budget 2020 also provides stable funding for health, education and core social services. The budget focuses on finding cost efficiencies and creating jobs while maintaining the high-quality services Albertans expect.

“Budget 2020 continues our focus on creating jobs, growing our economy and streamlining programs and services to ensure a sustainable future. Our plan is working. We are on track to balance the budget by 2022-23 and Alberta’s surplus in that year is expected to be higher than that projected in Budget 2019. We are also maintaining funding for health and education while ensuring each dollar is wisely spent on what Albertans need most.”

Travis Toews, President of Treasury Board and Minister of Finance

Included in Budget 2020 is A Blueprint for Jobs – the government’s plan to get Albertans back to work. It supports dynamic growth from the technology, energy, agriculture and forestry sectors and supports diversification in other key sectors through initiatives, including:

  • Improving competitiveness through further reductions in the Job Creation Tax Cut.
  • Accelerating growth-oriented projects through the capital plan to provide job opportunities for Albertans.
  • Reducing red tape in all sectors to make Alberta the best place to do business in Canada.
  • Accelerating the reclamation of “legacy sites” – including orphan wells – in ways that prioritize job creation.
  • Filling gaps in the labour market, such as increasing access to training for Class 1 drivers.

“There is no greater job for our government than getting Alberta back to work. Budget 2020 and A Blueprint for Jobs leverage the natural strengths of our province and support new opportunities for diversification, economic growth and job creation. We are putting a growth and prosperity lens on everything we do to ensure the choices we make as a government support economic growth and jobs for Albertans.”

Travis Toews, President of Treasury Board and Minister of Finance

Budget 2020 capital plan highlights

The 2020 Capital Plan commits $6.9 billion in 2020-21 to build and maintain key infrastructure projects across the province. Over the course of the three-year fiscal plan, an estimated $772 million in new projects will be added, bringing the total capital plan to $19.3 billion. This will create opportunities for private sector participation and support more than 3,000 jobs, increasing employment by 2022. Some of the new projects include:

  • Twinning Highway 40 to facilitate economic growth and improve safety.
  • Funding to renovate the Peter Lougheed Centre to alleviate pressure on Alberta’s most-congested emergency department.
  • New funding for critical laboratory equipment needs in Edmonton and northern Alberta.
  • The Alberta Surgical Wait-Times Initiative, which will fund new operating rooms and purchase new hospital equipment. The initiative will reduce Alberta’s surgical wait times to an average of four months, funding 80,000 additional surgeries by 2022-23.
  • The launch of a new Rural Health Facilities Revitalization Program to provide infrastructure upgrades across Alberta.
  • Funding for the Red Deer Integrated Emergency Shelter for 160 new spaces for the homeless.
  • Funding for the Bow Reservoir Options project to assess the feasibility of a multi-use dam on the Bow River.

Bill 4, also tabled today, implements a fixed budget period. This provision is an amendment to the Fiscal Planning and Transparency Act and aligns with a recommendation from the MacKinnon Panel.

A fixed budget period will help organizations that provide services for Albertans to better plan their own budgets. The fixed budget period means a budget must be released each year in the month of February.

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After 15 years as a TV reporter with Global and CBC and as news director of RDTV in Red Deer, Duane set out on his own 2008 as a visual storyteller. During this period, he became fascinated with a burgeoning online world and how it could better serve local communities. This fascination led to Todayville, launched in 2016.

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Alberta

Pierre Poilievre will run to represent Camrose, Stettler, Hanna, and Drumheller in Central Alberta by-election

Published on May 3, 2025

By

From LifeSiteNews

By Anthony Murdoch

Conservative MP-elect Damien Kurek announced Friday he would be willing to give up his seat as an MP so Pierre Poilievre, who lost his seat Monday, could attempt to re-join Parliament.

Conservative MP-elect Damien Kurek announced Friday he would be willing to give up his seat in a riding that saw the Conservatives easily defeat the Liberals by 46,020 votes in this past Monday’s election. Poilievre had lost his seat to his Liberal rival, a seat which he held for decades, which many saw as putting his role as leader of the party in jeopardy.

Kurek has represented the riding since 2019 and said about his decision, “It has been a tremendous honor to serve the good people of Battle River—Crowfoot.”

“After much discussion with my wife Danielle, I have decided to step aside for this Parliamentary session to allow our Conservative Party Leader to run here in a by-election,” he added.

Newly elected Prime Minister of Canada Mark Carney used his first post-election press conference to say his government will unleash a “new economy” that will further “deepen” the nation’s ties to the world.

He also promised that he would “trigger” a by-election at once, saying there would be “no games” trying to prohibit Poilievre to run and win a seat in a safe Conservative riding.

Poilievre, in a statement posted to X Friday, said that it was with “humility and appreciation that I have accepted Damien Kurek’s offer to resign his seat in Battle River-Crowfoot so that I can work to earn the support of citizens there to serve them in Parliament.”

 

“Damien’s selfless act to step aside temporarily as a Member of Parliament shows his commitment to change and restoring Canada’s promise,” he noted.

Carney said a new cabinet will be sworn in on May 12.

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Alberta

‘Existing oil sands projects deliver some of the lowest-breakeven oil in North America’

Published on May 2, 2025

By

From the Canadian Energy Centre 

By Will Gibson

Alberta oil sands projects poised to grow on lower costs, strong reserves

As geopolitical uncertainty ripples through global energy markets, a new report says Alberta’s oil sands sector is positioned to grow thanks to its lower costs.

Enverus Intelligence Research’s annual Oil Sands Play Fundamentals forecasts producers will boost output by 400,000 barrels per day (bbls/d) by the end of this decade through expansions of current operations.

“Existing oil sands projects deliver some of the lowest-breakeven oil in North America at WTI prices lower than $50 U.S. dollars,” said Trevor Rix, a director with the Calgary-based research firm, a subsidiary of Enverus which is headquartered in Texas with operations in Europe and Asia.

Alberta’s oil sands currently produce about 3.4 million bbls/d. Individual companies have disclosed combined proven reserves of about 30 billion barrels, or more than 20 years of current production.

A recent sector-wide reserves analysis by McDaniel & Associates found the oil sands holds about 167 billion barrels of reserves, compared to about 20 billion barrels in Texas.

While trade tensions and sustained oil price declines may marginally slow oil sands growth in the short term, most projects have already had significant capital invested and can withstand some volatility.

Cenovus Energy’s Christina Lake oil sands project. Photo courtesy Cenovus Energy

“While it takes a large amount of out-of-pocket capital to start an oil sands operation, they are very cost effective after that initial investment,” said veteran S&P Global analyst Kevin Birn.

“Optimization,” where companies tweak existing operations for more efficient output, has dominated oil sands growth for the past eight years, he said. These efforts have also resulted in lower cost structures.

“That’s largely shielded the oil sands from some of the inflationary costs we’ve seen in other upstream production,” Birn said.

Added pipeline capacity through expansion of the Trans Mountain system and Enbridge’s Mainline have added an incentive to expand production, Rix said.

The increased production will also spur growth in regions of western Canada, including the Montney and Duvernay, which Enverus analysts previously highlighted as increasingly crucial to meet rising worldwide energy demand.

“Increased oil sands production will see demand increase for condensate, which is used as diluent to ship bitumen by pipeline, which has positive implications for growth in drilling in liquids-rich regions such as the Montney and Duvernay,” Rix said.

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