A financial expert is concerned that spending by government just keeps going up.
Oil revenue will account for over $1-billion this year based on an average price of $86 US per barreI.
The deficit has all but been eliminated but Larry Short, a senior investment advisor at Short Financial with IA Private Wealth in St. John’s, says any crash in oil prices would leave us in a delicate position as government spending continues to go up.
He says we should all be grateful that we have that revenue and he’s optimistic in our long-term future but we could go three or four years where we have to cuts costs because we don’t have the revenue to keep pace.
