Varcoe: 'Double-edged sword': Oil prices near $100 this year sting consumers, bolster bottom line for western provinces 'On the one hand ... it generates so much value for our economy,' Premier Danielle Smith said. 'It goes both ways. Higher prices are bad for consumers and they're bad for business investment' |
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Varcoe: 'Double-edged sword': Oil prices near $100 this year sting consumers, bolster bottom line for western provinces
'On the one hand ... it generates so much value for our economy,' Premier Danielle Smith said. 'It goes both ways. Higher prices are bad for consumers and they're bad for business investment'
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As global oil prices accelerate into high levels, a new study says they’re also shifting gears — expected to average US$95 a barrel for Brent crude for the rest of 2026 — and that will have major implications for Canada’s two largest oil-producing provinces.
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For the governments of Alberta and Saskatchewan, it would make a seismic difference to the bottom lines of just-released budgets and spur the industry to hike output, but also hit consumers in the pocketbook with higher energy costs.
“We could all agree that we are living in an uncertain world, and a month can change........