Well when I look specifically at their price projection for oil at $98.12 and the wide range of "professional forecasts" last year I have a hard time saying that its a lie. The range that I see was Goldman Sachs at $120 and the low was CIBC World Markets at $92. The average forecast was $99.38 and the actual 2012 average price was $94.11.
In case you are curious, the federal budget forecast was $100.70 and Saskatchewan was $100. So if you say the Alberta government was out to lunch, you have to lump in the feds and Saskatchewan (at least) in with them. I would suggest that the major difference between these other governments isn't anything to do with better forecasting (obviously when presented with these facts!), but instead a lesser reliance on resource revenue in general.
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