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Premier Danielle Smith blamed some of the shortfall on lower oil prices in her Thursday evening post-budget address. The province estimates $13.2 billion in revenues from bitumen royalties and other non-renewable energy resources in fiscal 2026-27—about $3.1 billion less than the province had forecast in 2025-26. (The Globe and Mail)
Talking point: The Alberta government was nonetheless more bullish than private-sector energy forecasts when it comes to benchmark oil prices. The province projects in the budget that West Texas Intermediate will hit US$60 per barrel in 2026 and US$66 in 2027, while the average of all private forecasts came in at US$58 and US$60.50 for the same two years. Meanwhile, the government said it will introduce amendments to clarify that the two per cent levy on “large-scale” data centres will be based on actual use of power drawn from the grid.
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