When Finance Minister Joe Ceci unveils Alberta’s budget on Oct. 27, Albertans can expect a sizeable deficit. In fact, the government’s latest data suggest a $5.9 billion deficit, but Minister Ceci has cautioned it could be “in the range of $6.5 billion.” In either case, the amount isn’t trivial.
The newest entrant into the ongoing saga of the serially-delayed Keystone XL pipeline is the U.S. Environmental Protection Agency, which recently created yet another reason to delay the project that would carry Canadian oil to refineries in the U.S. Gulf Coast.
Discussions surrounding the need for new pipelines to transport Canada's oil to market have been a dominant economic, environmental, and political issue for the past several years. Canada's overwhelming reliance on the United States as a customer, the U.S.'s growing energy self-sufficiency, and limited pipeline infrastructure have placed a low ceiling on the prices Canadians are able to secure for our energy exports.