The Oil Windfall: A Cautionary Tale for Alberta's Finances Alberta's finance minister, Jason Nixon, has been handed a welcome surprise – a $2 billion surplus instead of the expected $9. 4 billion deficit.
This reversal of fortunes is largely due to the war in Iran, which has sent oil prices soaring. The province's budget was based on an oil price benchmark of $60.
50 per barrel for 2026 2027, just two days before the US and Israel launched their attack on Iran.