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

Driver of stolen vehicle caught after fleeing accident scene in Chemainus

Section of Chemainus Road closed until suspect located and eventually taken into custody

Crofton Alternate Water Supply Project eliminates boil water advisories

System takes away the need to utilize Crofton Lake in the event of a disruption to mill source

First-ever Cowichan Bluegrass Festival a hit at Lake Cowichan

With great music, great weather, and great ambience at Laketown Ranch: everyone loved it

Rats edge Arrows in playoff preview

Postseason begins for Cowichan at home on Saturday

Mary Lowther column: Without the bees, there are no crops

Wikipedia explains that the mason bee was named for the way it builds clay nests to lay its eggs.

VIDEO: Rare white killer whale captured by drone near Campbell River

The transient orca has been named Tl’uk, a Coast Salish word that means ‘moon.’

Coming up in Cowichan: Spend Father’s Day fishing, or head to the BC Forest Discovery Centre

Deadline coming to register for class reunion The Cowichan Secondary Class of… Continue reading

B.C.-born Carey Price brings young fan to tears at NHL Awards banquet

Anderson Whitehead first met his hockey idol after his mother died of cancer

Licence issue delays boozing while cruising on BC Ferries

Planned June launch for alcohol sales delayed

Nanaimo a prime market for new plane, Air Canada says

Vice-president previews Airbus A220, praises Nanaimo’s growth in passenger numbers

B.C. school mourns after 13-year-old killed by fallen tree on field trip

Teenager died after being struck and pinned by tree while on a field trip near Sooke

RCMP deploys special unit in Comox Valley to combat organized crime

Combined Forces Special Enforcement Unit spends four days targeting organized crime in Courtenay

B.C. temporarily halts resource development to protect caribou

The caribou population in northeastern B.C. has dwindled over the last two decades

Most Read