Canada's Alberta sees budget deficit narrowing to C$18 billion as oil prices recover

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The Canadian oil-producing province of Alberta on Thursday estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

FILE PHOTO: Oil, steam and natural gas pipelines run through the forest at the Cenovus Foster Creek SAGD oil sands operations near Cold Lake, Alberta, July 9, 2012. REUTERS/Todd Korol

“Budget 2021 will provide funding ... to ensure Albertans have a competitive edge, as economies reopen, growth restarts and opportunities reappear,” Toews said in his budget address. Alberta said its financial exposure from an investment in TC Energy’s Keystone XL pipeline, which would have shipped to the U.S. but had its permit revoked by President Joe Biden, was C$1.3 billion. The government said if the project does not proceed it will seek to recoup the funds.

 

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But no Keystone pipeline for delivery to Nebraska ?

$18 billion Deficit... so poor and so sad....

Esanthan

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