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ALBERTA'S BUDGET AND RESOURCE REVENUES

Alberta's Budget and Resource Revenues

Study Released May 28, 2013

Commodity Report - Crude Oil - April 2013

The eight years (2001-2008) prior to the onslaught of the recession in 2009 have marked a time period for the province of Alberta as one of a “surplus economy”. A string of budget surpluses led to the elimination of provincial net debt. At the same time, resources were
available to finance expenditures and tax reductions. This article assesses the overall state of Alberta’s finances, while paying special attention to the role that the nonrenewable resource revenues play in the provincial budget balance. The data shows that the share of provincial intake comprised of non-renewable resource revenues has been falling since the early 2000s and varied within a narrow band for the time period in
question. Relatively strong total revenue performance of the last few years, including those recession years, has been almost entirely due to high oil prices. It is evident that while the natural resource revenue share has fallen, it continues to be a factor in the provincial budget surplus/deficit position..... Download full report.

April 2013