Alberta
The world is full of options
The world is full of options.
Keep dreaming or cut your hopes? With opinions dominating every aspect of life, whose judgment can you trust? Should we step outside or wait until the siren stops wailing?
Right now, almost at this moment, the National Hockey League is asking those questions: push aside all obstacles and restart the abbreviated current season, or accept that games without fans won’t provide the answer, and the emotional, fan-driven thrills, that supporters truly want? Those questions are front and centre for commissioner Gary Bettman and his paid advisers, as well as for all of us who count on sports – especially hockey, even in what should be baseball season – to fill essential blanks in our schedules. Another group waits more anxiously than ticket-buyers or big-screen addicts possibly could.
The players, of course.
For many, their future next season – even beyond whatever shape their game takes in the short term – is transcendent. Those who have endured a difficult partial season obviously have more concerns than those whose team standings and personal statistics are beyond rebuke. But that, in every sport, is a minority. Far more common are those who cannot tell what next year will bring.
It’s entirely possible that one such man will be Mark Pysyk, the former Edmonton Oil Kings captain who became a first-round draft choice of the Buffalo Sabres in the 2010 entry draft and later was traded to the Florida Panthers, where his career has been solid but, as he would clearly admit, not spectacular.
Pysyk holds a high place in Oil Kings junior history. Although his profile never reached the level of Hall-of-Famers Johnny Bucyk or Norm Ullman, nor Al Hamilton and coaching great Pat Quinn and Hall-of-Fame builder Glen Sather, he was the first prospect to don an Edmonton uniform when the franchise returned to organized hockey in 2007 after a long period of ugly sports politics kept this community on the outside looking in.
Pysyk played only 14 Western Hockey League games that season but was a junior star from then on. After Buffalo grabbed him, he played part of one season in the American Hockey League. Since then, he has been fully employed, except for three games in Rochester while recovering from an injury in the 2015-16 season, shortly before he became part of a draft day trade that sent him to the Florida Panthers.
In the next two seasons at his sunny South home, Pysyk performed almost exactly as before: go to work, do the job, get ready for practice tomorrow. seven goals and 33 points in 164 regular-season games; impressive enough, he was, to remain protected in the Las Vegas expansion draft. Then, last season, it was down to one goal and 10 points in 70 games. Word leaked that he would be available for the right trade offer.
Some idle time at the start of this season could not have been unexpected. New head coaches – Joel Quenneville, in this case – always bring change. Blueliners Aaron Ekblad and Anton Stralman played longer minutes. Mike Matheson and MacKenzie Weegar contributed to Pysyk’s extra rest. Then came the change that provided a whole new picture – at least potentially.
Pysyk became a right winger. He scored nine goals – easily his best ever – and the Panthers remained, somehow, as playoff possibilities. His defensive abilities helped keep opposition scoring chances down while this third (sometimes fourth) line improved the offence.
That happy collection of events certainly has presented new possibilities. Will he be a Panther next season? Will he be a forward or a defenceman? Is there any chance that the astute Quenneville saw something other analysts missed before Pysyk arrived.
Eventually, this quality young man will use his ability and his character to answer those questions.
From the Fraser Institute
By Tegan Hill
According to the recent mid-year update tabled Thursday, the Smith government projects a $4.6 billion surplus in 2024/25, up from the $2.9 billion surplus projected just a few months ago. Despite the good news, Premier Smith must reduce spending to avoid budget deficits.
The fiscal update projects resource revenue of $20.3 billion in 2024/25. Today’s relatively high—but very volatile—resource revenue (including oil and gas royalties) is helping finance today’s spending and maintain a balanced budget. But it will not last forever.
For perspective, in just the last decade the Alberta government’s annual resource revenue has been as low as $2.8 billion (2015/16) and as high as $25.2 billion (2022/23).
And while the resource revenue rollercoaster is currently in Alberta’s favor, Finance Minister Nate Horner acknowledges that “risks are on the rise” as oil prices have dropped considerably and forecasters are projecting downward pressure on prices—all of which impacts resource revenue.
In fact, the government’s own estimates show a $1 change in oil prices results in an estimated $630 million revenue swing. So while the Smith government plans to maintain a surplus in 2024/25, a small change in oil prices could quickly plunge Alberta back into deficit. Premier Smith has warned that her government may fall into a budget deficit this fiscal year.
This should come as no surprise. Alberta’s been on the resource revenue rollercoaster for decades. Successive governments have increased spending during the good times of high resource revenue, but failed to rein in spending when resource revenues fell.
Previous research has shown that, in Alberta, a $1 increase in resource revenue is associated with an estimated 56-cent increase in program spending the following fiscal year (on a per-person, inflation-adjusted basis). However, a decline in resource revenue is not similarly associated with a reduction in program spending. This pattern has led to historically high levels of government spending—and budget deficits—even in more recent years.
Consider this: If this fiscal year the Smith government received an average level of resource revenue (based on levels over the last 10 years), it would receive approximately $13,000 per Albertan. Yet the government plans to spend nearly $15,000 per Albertan this fiscal year (after adjusting for inflation). That’s a huge gap of roughly $2,000—and it means the government is continuing to take big risks with the provincial budget.
Of course, if the government falls back into deficit there are implications for everyday Albertans.
When the government runs a deficit, it accumulates debt, which Albertans must pay to service. In 2024/25, the government’s debt interest payments will cost each Albertan nearly $650. That’s largely because, despite running surpluses over the last few years, Albertans are still paying for debt accumulated during the most recent string of deficits from 2008/09 to 2020/21 (excluding 2014/15), which only ended when the government enjoyed an unexpected windfall in resource revenue in 2021/22.
According to Thursday’s mid-year fiscal update, Alberta’s finances continue to be at risk. To avoid deficits, the Smith government should meaningfully reduce spending so that it’s aligned with more reliable, stable levels of revenue.
Author:
Better, faster, more affordable auto insurance
Alberta’s government is introducing a new auto insurance system that will provide better and faster services to Albertans while reducing auto insurance premiums.
After hearing from more than 16,000 Albertans through an online survey about their priorities for auto insurance policies, Alberta’s government is introducing a new privately delivered, care-focused auto insurance system.
Right now, insurance in the province is not affordable or care focused. Despite high premiums, Albertans injured in collisions do not get the timely medical care and income support they need in a system that is complex to navigate. When fully implemented, Alberta’s new auto insurance system will deliver better and faster care for those involved in collisions, and Albertans will see cost savings up to $400 per year.
“Albertans have been clear they need an auto insurance system that provides better, faster care and is more affordable. When it’s implemented, our new privately delivered, care-centred insurance system will put the focus on Albertans’ recovery, providing more effective support and will deliver lower rates.”
“High auto insurance rates put strain on Albertans. By shifting to a system that offers improved benefits and support, we are providing better and faster care to Albertans, with lower costs.”
Albertans who suffer injuries due to a collision currently wait months for a simple claim to be resolved and can wait years for claims related to more serious and life-changing injuries to addressed. Additionally, the medical and financial benefits they receive often expire before they’re fully recovered.
Under the new system, Albertans who suffer catastrophic injuries will receive treatment and care for the rest of their lives. Those who sustain serious injuries will receive treatment until they are fully recovered. These changes mirror and build upon the Saskatchewan insurance model, where at-fault drivers can be sued for pain and suffering damages if they are convicted of a criminal offence, such as impaired driving or dangerous driving, or conviction of certain offenses under the Traffic Safety Act.
Work on this new auto insurance system will require legislation in the spring of 2025. In order to reconfigure auto insurance policies for 3.4 million Albertans, auto insurance companies need time to create and implement the new system. Alberta’s government expects the new system to be fully implemented by January 2027.
In the interim, starting in January 2025, the good driver rate cap will be adjusted to a 7.5% increase due to high legal costs, increasing vehicle damage repair costs and natural disaster costs. This protects good drivers from significant rate increases while ensuring that auto insurance providers remain financially viable in Alberta.
Albertans have been clear that they still want premiums to be based on risk. Bad drivers will continue to pay higher premiums than good drivers.
By providing significantly enhanced medical, rehabilitation and income support benefits, this system supports Albertans injured in collisions while reducing the impact of litigation costs on the amount that Albertans pay for their insurance.
“Keeping more money in Albertans’ pockets is one of the best ways to address the rising cost of living. This shift to a care-first automobile insurance system will do just that by helping lower premiums for people across the province.”
Quick facts
- Alberta’s government commissioned two auto insurance reports, which showed that legal fees and litigation costs tied to the province’s current system significantly increase premiums.
- A 2023 report by MNP shows
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