The alberta budget probably goes something like cross your fingers and hope oil goes back up..... this probably goes for alot of alberta businesses, people, and the government.
What happens if oil is 30-50$ for five years or longer?
How does some one else come in and clean this up? All those people working in government/health care and education roles are just regular albertans too, no different than the guy at the parts store or putting pilings in the ground. To think hitting everyone is going to solve the problems and everything will be fine is silly.
It is a lousy situation, a one trick pony got knocked right out.... everyone only gave two rips about producing the lowest grade least processed product that fetched the lowest oil price in the world at the highest cost, that was our economy, now we are stuck with it. Our government spent based on revenue from some of the lowest priced junk oil in the world.
The government is trying to keep the pain to a minimum because thats what people wanted, it probably isnt going to work well unless oil comes back to pay the over spending down.
The main gap is the 7-8 billion less in resource revenue... if oil was 100$ we wouldnt be talking about deficits next year or even this year
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