B.C. BUDGET: Energy revenue decline expected

Gas glut continues, electricity prices low, but recovery forecast for forest products, coal and other commodities

Natural gas prices and revenues are predicted to decline further with a glut of shale gas production in North America.

B.C.’s natural resource revenue is forecast to decline 6.9 per cent in the coming year, mostly due to lower prices for natural gas, oil and electricity.

After gas drilling boom years, the province’s revenue from Crown land tenures is expected to continue to decline slightly for two years. Excluding land tenures, natural resource revenue is expected to increase 7.6 per cent over the next two years due to increased forest stumpage rates and prices for coal and other commodities.

The province is forecasting no revenue from liquefied natural gas exports over the next three years, as investors continue to consider the multi-billion-dollar decisions that would get that industry off the ground in B.C.

Revenue from fees will continue to rise, with Medical Services Plan rates increasing again after a 30 per cent jump in the past five years.

De Jong said a scheduled four per cent increase in BC Ferries fares will also go ahead as scheduled April 1.

 

Just Posted

Endoscopy Campaign wraps up at Kootenay Boundary Regional Hospital

The KBRH Health Foundation recently held a donor ceremony for contributors to its $450,000 tally

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

Elections 2018: Meet your Grand Forks Council Candidates

The biographies of the 13 candidates for City of Grand Forks council

PLACE NAMES: Kootenay Landing to Reffek

Boundary railway siding was named after a BC Copper Company manager – but spelled backward

Meeting called on border change

Local residents who feel the impact of the change in border are encouraged to attend this meeting.

Naked man jumping into Toronto shark tank a ‘premeditated’ stunt: official

The man swam in a tank at Ripley’s Aquarium of Canada

Toronto Police ID B.C. man as naked shark tank jumper

David Weaver, of Nelson, is wanted on mischief and assault charges

In Florida, families seeking the missing amid storm damage

Five days after the hurricane slammed into the Florida Panhandle, people are struggling to locate friends and loved ones.

Prince Harry and Meghan start Aussie tour with baby gifts

Prince Harry and his wife Meghan are on a 16-day tour of Australia and the South Pacific.

EU’s Barnier hopes Brexit deal possible in ‘coming weeks’

Britain is set to leave the European Union in March, but a Brexit agreement must be sealed in coming weeks to leave enough time for relevant parliaments to ratify it.

Earth samples show dust from B.C. pipeline blast not a health threat: Enbridge

Enbridge says earth sampling shows mineral and metal composition is well below provincial and federal standards for urban and residential areas.

Postal services ready for looming wave of legal cannabis deliveries

Legal cannabis is set to usher in a wave of high-value, age-restricted parcels in the mail system, and delivery companies say they’re ready.

Mega Millions prize of $654M is nation’s 4th-largest

No one has won the U.S. jackpot in almost three months

Trump: Saudi king ‘firmly denies’ any role in Khashoggi mystery

Secretary of State Mike Pompeo is travelling to the Middle East to learn more about the fate of the Saudi national

Most Read