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Premier Jason Kenney held a news teleconference from Belmont Sobeys in northeast Edmonton on Feb. 10, 2021. Article content CALGARY — For generations, all the way back to Peter Lougheed in the 1970s, Alberta has attempted to diversify its economy. But the fortunes of the oil and gas-producing province continue to rise and fall with energy prices. Alberta Finance Minister Travis Toews will unveil the province’s budget for the next year on Thursday, once again depend heavily on rising energy prices. Now there are growing calls for new taxes to broaden the government’s revenue stream and address a sizable deficit racked up by pandemic health-care spending and other challenges in the economically stagnant province. “We’re gradually recovering but it doesn’t change that the fiscal side is still a big challenge. It still means that there will be a sizable structural deficit in the long-term,” said Charles St-Arnaud, chief economist with Alberta Central, a financial services firm. Oil prices are expected to remain higher than previously expected over the next three years. DBRS Morningstar updated its oil and gas forecast Tuesday morning and now expects oil prices to average US$53 per barrel this year and US$52 per barrel in 2022 […]
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