Canada $38.5 Billion Budget Gain Amid High Oil Prices & Economy Improvement

[Economy 52,834]

https://www.orilliamatters.com/national-news/liberals-may-find-extra-spending-room-in-budget-created-by-rising-oil-prices-5178333

 

Canadas budget outlook for the year has improved with a revenue of $38.5 Billion more than anticipated in large part due to high Oil Prices (Canada is the Worlds 4th Largest Producer and among biggest exporters also) but also due to generally strong economic performance as well

 

Other high commodity prices to which Canada is a high exporter of such as precious metals are also helping fuel the largest trade surpluses in a decade and a half. Later in the year high wheat prices are also expectedly to add to the gain

 

The higher revenue gives the Liberals fiscal room for some of their ambitious campaign promises such as cheaper Universal childcare

[GregJA 5,530]

Yes we produce so much oil and our gas prices are astronomical 

[Economy 52,834]

13 hours ago, GregJA said:

Yes we produce so much oil and our gas prices are astronomical 

Lol

 

#1. We have private companies who are gonna sell for global prices not at a discount just cuz its its own citizens. Its not National companies like in Middle East

 

#2 the most populated parts of Canada do not get Canadian oil. We dont have much pipeline infrastructure built to get oil from Alberta to the East so most comes from USA or other imports. What we produce in Alberta goes mostly to US so we are not using our own oil

 

#3 our prices arent that astronomical. They are higher than if u compare to USA but in other developed Nations like almost all of Europe they are even higher

 

#4 part of the reason they are higher now is also the carbon tax. The last time oil was at $100 a barrel gasoline was cheaper but the Government is purposely making it more expensive to encourage people to switch to Electric vehicles. So that cost is gonna be there regardless if oil is imported or not