Alberta premier notes huge cost increases if the US slaps a border adjustment tax on Canadian energy.
Energy agency says next few weeks will be crucial in determining if production cuts are being implemented.
Bank of Canada’s Stephen Poloz still believes a successful transition will happen – albeit slower than expected.
Excess supply has forced producers to work hard to bring costs down.
Lower resource revenue and a reduced take in corporate and personal income taxes to blame.
Higher energy, vehicle prices are offset by offset by cheaper gasoline, fuel oil and natural gas.
Downward forces on oil and gas countered higher prices for shelter and food.
IEA suggests investment in oil exploration and production is declining for a second straight year.
Economic growth, low oil prices, budgetary balance and debt-to-GDP ratio will all be top of mind come budget season.
Deal is worth $49 billion.
Finance minister hasn’t indicated whether the federal government will accelerate infrastructure spending to kickstart the economy.
Central bank governor said there is no simple policy response to fix the problem.
Oil price collapse has eliminated 40,000 jobs in the province’s energy sector.
Oil price plunge likely to encourage growth in other sectors to diversify Alberta’s economy.
Brian Jean says a tax would hurt Albertan consumers already feeling the pain of low oil prices.