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Varcoe: Alberta's new budget on course to collide with its own fiscal guardrails

The bottom line is that the same financial problem has cropped up time and time again. Alberta is too reliant on volatile oil and gas prices for a huge chunk of its revenues

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It was only 36 months ago, but it might as well be a lifetime for Alberta budget watchers.

Varcoe: Alberta's new budget on course to collide with its own fiscal guardrails Back to video

Oil prices were high. The economy was strong.

Multibillion-dollar budget surpluses were rolling in like the tide — and long-term deficits were seemingly being legislated away by the provincial government.

Well, that didn’t last long.

On Thursday, Finance Minister Nate Horner unveiled the province’s budget for the upcoming fiscal year, showing a tsunami of red ink — including $9.4........

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