Alberta gas

Natural gas royalties for the Alberta government will all but disappear this year as the Covid-19 pandemic finishes off their long decline as the bygone top source of revenue, Finance Minister Travis Toews predicted Thursday.

In a new treasury forecast, gas receipts plummet to C$77 million ($58 million) in for fiscal year 2020-2021, which began April 1, down by 99% from the peak C$8.4 billion ($6.3 billion) 15 years ago.

Toews posted a blunt description of the treasury’s plight in his quarterly budget report. “Covid-19 and oil price collapse crush province,” he said.

The government blamed falling liquid byproduct prices, which tracked the pandemic oil crash, for its latest gas revenue drop. The new royalty low is down by 79% from a depressed C$371 million ($278...