Alberta Premier Danielle Smith said Tuesday her long-term goal is to balance the province’s books even with moderate oil prices. She envisions aligning spending with revenues from US$60-per-barrel oil over the next decade.
The latest Alberta budget projected a $9.4-billion deficit, based on an average WTI price of US$60.50 per barrel. However, oil prices have since surged above US$100 per barrel due to the U.S.-Israeli conflict with Iran.
Smith addressed concerns from local officials about healthcare access, infrastructure costs, and unpaid oil and gas well taxes. She emphasized the need to cut wasteful spending and streamline programs to match revenues.
She also highlighted challenges in emergency services, citing a case where a woman experiencing stroke symptoms was turned away from a hospital. Smith blamed the former provincial health agency and announced a restructuring of Alberta’s healthcare system.
Smith said she hopes the Middle East conflict will be resolved quickly, as the Strait of Hormuz has been effectively closed, driving up global oil prices.