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- A new memorandum of understanding between Ottawa and Alberta lays out a plan to pursue a privately funded bitumen pipeline through northern British Columbia while addressing most of the federal environmental laws Alberta has long opposed. The agreement commits both governments to collaboration on a million-barrels-per-day pipeline aimed at Asian markets, paired with major projects including the Pathways carbon capture system and a mandated 75% reduction in provincial methane emissions. Ottawa has agreed to suspend clean electricity rules, drop the oil and gas emissions cap, and consider adjustments to the West Coast tanker ban as part of the deal. Alberta must submit its pipeline application to the federal major projects office by July 1st, with both sides framing the project as a national economic opportunity that could create tens of thousands of jobs. British Columbia’s government and coastal First Nations remain firmly against any new pipeline, citing spill risks and the lack of a private-sector proponent.
- Alberta is now projecting a $6.4-billion second-quarter deficit as falling oil prices, higher expenses, and new US tariffs weigh heavily on the Province’s finances. Finance Minister Nate Horner said global trade tensions and a weaker energy market have sharply reduced non-renewable resource revenue, which is down 30% from last year. While a new energy agreement with Ottawa is expected to boost long-term investment certainty, it won’t provide immediate fiscal relief. Revenues are down across several categories, particularly personal income taxes, though corporate taxes remain stronger than expected. Expenses have edged higher due to labour settlements, emergency funding, and health-care initiatives, including money for continuing care and psychiatric beds. Despite these pressures, Alberta’s GDP growth is still expected to lead the country at 2.1%, supported by strong oil production and increased building activity. Population growth also remains the fastest in Canada, though unemployment among young Albertans is rising. The Heritage Savings Trust Fund continues to grow, too, reaching a projected $31.5 billion after earning $770 million in the second quarter.
- The Alberta government is moving to crack down on contraband tobacco with Bill 12, which would impose harsher penalties on anyone buying, selling, or possessing illegal tobacco products. Proposed fines would be triple the tax owed on legal tobacco, covering cigarettes, fine-cut tobacco, and cigars over 1,000 grams. The announcement follows a major seizure near Lloydminster, where RCMP intercepted 8.8 million unstamped cigarettes valued at $7.65 million. A study by the Convenience Industry Council of Canada found that illegal tobacco cost Alberta around $262 million in tax revenue from 2021 to 2023, with contraband now accounting for nearly 30% of the market. The legislation also mandates mandatory reporting of seizures, aiming to protect public health, support legal retailers, and recover lost revenue that funds provincial services.
- Since recreational cannabis was legalized in 2018, Alberta has collected the most tax revenue per capita of any province, generating about $210 per person and over $1 billion in total. While Ontario collected the largest provincial total at $1.5 billion, Alberta’s smaller population means its per-person revenue surpasses every other province, well ahead of the Northwest Territories ($135.80) and Yukon ($126.35). Alberta’s high revenue is attributed to its early rollout of licensed retail stores and a 16.8% additional tax on cannabis excise duties, the highest of any province. Critics say the surcharge, applied at the producer level, has limited market growth and may encourage some Albertans to continue buying from illegal sources.