Alberta
Province says books will be balanced again by 2022-23

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.”
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.”
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.
Alberta
Big win for Alberta and Canada: Statement from Premier Smith

Premier Danielle Smith issued the following statement on the April 2, 2025 U.S. tariff announcement:
“Today was an important win for Canada and Alberta, as it appears the United States has decided to uphold the majority of the free trade agreement (CUSMA) between our two nations. It also appears this will continue to be the case until after the Canadian federal election has concluded and the newly elected Canadian government is able to renegotiate CUSMA with the U.S. administration.
“This is precisely what I have been advocating for from the U.S. administration for months.
“It means that the majority of goods sold into the United States from Canada will have no tariffs applied to them, including zero per cent tariffs on energy, minerals, agricultural products, uranium, seafood, potash and host of other Canadian goods.
“There is still work to be done, of course. Unfortunately, tariffs previously announced by the United States on Canadian automobiles, steel and aluminum have not been removed. The efforts of premiers and the federal government should therefore shift towards removing or significantly reducing these remaining tariffs as we go forward and ensuring affected workers across Canada are generously supported until the situation is resolved.
“I again call on all involved in our national advocacy efforts to focus on diplomacy and persuasion while avoiding unnecessary escalation. Clearly, this strategy has been the most effective to this point.
“As it appears the worst of this tariff dispute is behind us (though there is still work to be done), it is my sincere hope that we, as Canadians, can abandon the disastrous policies that have made Canada vulnerable to and overly dependent on the United States, fast-track national resource corridors, get out of the way of provincial resource development and turn our country into an independent economic juggernaut and energy superpower.”
Alberta
Energy sector will fuel Alberta economy and Canada’s exports for many years to come

From the Fraser Institute
By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.
Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.
In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.
Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).
Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.
The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.
Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.
-
2025 Federal Election2 days ago
‘Coordinated and Alarming’: Allegations of Chinese Voter Suppression in 2021 Race That Flipped Toronto Riding to Liberals and Paul Chiang
-
2025 Federal Election2 days ago
‘I’m Cautiously Optimistic’: Doug Ford Strongly Recommends Canada ‘Not To Retaliate’ Against Trump’s Tariffs
-
Business1 day ago
California planning to double film tax credits amid industry decline
-
Business2 days ago
Canada may escape the worst as Trump declares America’s economic independence with Liberation Day tariffs
-
Alberta2 days ago
Big win for Alberta and Canada: Statement from Premier Smith
-
Catherine Herridge2 days ago
FBI imposed Hunter Biden laptop ‘gag order’ after employee accidentally confirmed authenticity: report
-
Business1 day ago
B.C. Credit Downgrade Signals Deepening Fiscal Trouble
-
COVID-1921 hours ago
Trump’s new NIH head fires top Fauci allies and COVID shot promoters, including Fauci’s wife