| To say the rapid drop in oil prices has sent shock waves across the global economy might be the understatement of 2015. Only a few months ago, Canada was touting its aspirations and capacity to become an energy superpower. Today, the federal government and oil-producing provinces that include Saskatchewan and Alberta are urgently dealing with unanticipated budget shortfalls.
In January, Finance Minister Joe Oliver announced that the federal government would postpone its budget by at least two months - a move that is almost without precedent. In Alberta, the engine room of Canada's emerging energy superpower ambitions, Premier Jim Prentice warned of spending cuts of nine per cent in the upcoming budget...............................................Full Article: Source
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