Alberta resource revenue plunges to historic low

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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Stephen Harper: Economic Downturn Is Only Temporary

Alberta resource revenue plunges to historic low

Alberta has been through booms and busts before, but the scale of the current slide in oil and gas revenues is on a level that no government has seen in modern history.

Total revenues from non-renewable resources are expected to ring in just shy of $2.5 billion in the current fiscal year, which ends on March 31.
That will represent a mere 5.7 per cent of the province's total revenue for the year — by far the lowest on record.

The lowest take, previously, was 14.1 per cent in 1998-99, according to historical data from Alberta Energy.

Since 1981, the province has received about 26 per cent of its annual revenue, on average, from non-renewable resources. In three of those years, it peaked above 40 per cent.

So what does it mean for Alberta when royalties plunge to the depths they're at now?

"It's a real challenge for the future," said Janice Plumstead, a senior economist with the Canada West Foundation.

"Everything is pointing to, in the global market, that the price of oil is not going to increase appreciably in 2016. And I believe, with the inventory and supply that's available, that it might even take into 2017 until prices begin to rise again and that supply is actually taken up."

"So we could be looking at a really challenging budget period for Alberta for at least the next two years."

Alberta resource revenue plunges to historic low - Calgary - CBC News
 

pgs

Hall of Fame Member
Nov 29, 2008
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Great maybe that economic powerhouse that is Otariowe can help them out with some equalization .
 

damngrumpy

Executive Branch Member
Mar 16, 2005
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To a large extent it is the problem of successive governments relying on oil and
coal and not diversifying the economy like other areas have done
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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That has been said so many times, but stubborn conbots get what they deserve.
 

pgs

Hall of Fame Member
Nov 29, 2008
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To a large extent it is the problem of successive governments relying on oil and
coal and not diversifying the economy like other areas have done
Nope no more cattle ranches in Alberta , they don't have anymore coal mines , and I know tourist's have never flocked to Alberta .
 

petros

The Central Scrutinizer
Nov 21, 2008
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They should go back to cutting down trees. Apparently forestry is kicking *** right now.

The low dollar has trees flying out the door.
 

Curious Cdn

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Feb 22, 2015
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I seem to call a grove of Aspen growing between Calgary and Lethbridge. That should be good for a round at Timmy's.
 

taxslave

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Nov 25, 2008
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Are you really that clueless?

Comes from Ontario. Does that answer your question?

You can always clear cut the National Parks and "K" country.

Parks should be logged.We have a responsibility to look after our forest lands and leaving them to rot and disease is not good forest management. Even that hotbed of greenies, Germany logs their parks.
 

Mowich

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Parks should be logged.We have a responsibility to look after our forest lands and leaving them to rot and disease is not good forest management. Even that hotbed of greenies, Germany logs their parks.

The selective logging and burning of diseased species in our parks most certainly should be carried out, ts. Controlled burning of underbrush is another treatment I would like to see. If these policies had been in place back when the pine beetle was first discovered in Tweedsmuir, the outcome might have been different.
 

Curious Cdn

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Feb 22, 2015
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Comes from Ontario. Does that answer your question?



Parks should be logged.We have a responsibility to look after our forest lands and leaving them to rot and disease is not good forest management. Even that hotbed of greenies, Germany logs their parks.

The Black Forest looks like a division of Prussian soldiers, trees all identical, in perfect rows. Apparently, there us a little corner of the Black Forest known with Teutonoic derision as the "Canadian corner" where the foliage grows willy-nilly in a big jumble.

Canadian trees have no discipline! I"m all for it! The Black Spriuce is an unternenchentree and should be replaced with a more Aryan species, such as the White Pine.
 

eh1eh

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Aug 31, 2006
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Geez, I don't remember anyone helping Ontario when we were screwed. I think we'll just keep our transfer payments this time. Alberta better make friends with BC and learn how to grow weed til oil comes back.
 

taxslave

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Nov 25, 2008
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The selective logging and burning of diseased species in our parks most certainly should be carried out, ts. Controlled burning of underbrush is another treatment I would like to see. If these policies had been in place back when the pine beetle was first discovered in Tweedsmuir, the outcome might have been different.

No might about it. Proper silviculture would have prevented the disaster.

The Black Forest looks like a division of Prussian soldiers, trees all identical, in perfect rows. Apparently, there us a little corner of the Black Forest known with Teutonoic derision as the "Canadian corner" where the foliage grows willy-nilly in a big jumble.

Canadian trees have no discipline! I"m all for it! The Black Spriuce is an unternenchentree and should be replaced with a more Aryan species, such as the White Pine.

It is called tree farming. No different than any other farm crop except the cycle is a bit longer. What you describe is called monoculture and is rare in BC. (don't know about the rest of Canada) Most of ours is mixed species depending on soil within the block but there is usually a dominate species.