Alberta Premier Kenney Sees Negative Oil Prices, $14 Billion Deficit
- Province’s experts project 400 to 1,300 deaths from virus
- Distancing measures likely to remain through May, Kenney says
April 6: ESAI President Sees Oil Prices in the 'High 30s' by End of Year
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Alberta Premier Jason Kenney says the combined toll of Covid-19 pandemic, the global economic recession and the collapse in oil prices represent the greatest challenge in the province’s modern history, threatening its main industry and wreaking havoc on its finances.
In a televised address on Tuesday, Kenney warned that there is a “very real possibility” of negative prices for Alberta’s energy products. He also said measures to deal with the crises may cause Alberta’s budget deficit this year to almost triple to C$20 billion ($14 billion).