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

New look and feel on the horizon for Gate House Theatre in Port McNeill

“We are hoping between now and then to do another fundraising campaign for acoustics”

North Island Bantam Eagles capture Tier Three banner with win over Powell River Kings

The Eagles next game is Jan. 19 against the Juan De Fuca Grizzlies at 4:00 p.m. in Port McNeill.

Mainroad meets with Regional District of Mount Waddington

“It was really nice to have Mainroad there to give a presentation to the RD”

Port Hardy council agrees to list question and answer period on agenda packages

CAO Allison McCarrick confirmed the question and answer period will be listed on the next agenda.

UK lawmakers reject Brexit deal in 432-202 vote

House of Commons votes against the deal struck between Britain’s government and the EU

Jury debates fate of man accused of killing 12-year-old B.C. girl 40 years ago

Police allege Garry Handlen told a cop how he abducted, sexually assaulted and strangled Monica Jack in May 1978

Investigating change to B.C.’s licence and quota system

MP Ken Hardie hears from fish harvesters how corporations are favoured under current regime

Letters on way to all homeowners in B.C. speculation tax communities

Property owners have to register to avoid vacant-home tax

New orca calf in Salish Sea ‘healthy and active’

Birth cause for celebration but things still dire genetically, expert says

UPDATE: One person confirmed dead in Port Alberni motor vehicle accident

Rural residential road remains closed as RCMP, coroner investigate

Good Samaritan rescues cat found in heaps of garbage at B.C. landfill

The cat was abandoned and left to die at the Foothills Boulevard Regional Landfill, the BC SPCA says

Vancouver, Victoria, Kelowna home to Canada’s most expensive rentals: report

According to PadMapper, units in larger B.C. cities cost $1,300 to more than $3,000

B.C. home sales drop 25% in 2018

The B.C. Real Estate Association points to the federal government’s mortage stress test

Most Read