When I began my term as chancellor last July, the price of a barrel of crude oil was $110. There was an air of optimism on campus as the University of Calgary continued pursuit of its ambitious Eyes High strategy.
Today the price of crude is $57 a barrel. This significant drop in price has had impacts around the world and in Alberta. Our provincial government in particular relies heavily on energy revenues for program spending.
The provincial budget came down yesterday. Here at the University of Calgary we were aware that the scenario for funding of post-secondary education could be dire.
Upon reading this morning’s newspaper accounts of the budget, I learned that grants to the province’s 26 publicly funded post-secondary institutions would be reduced 1.4% this year, with a further reduction of 2.7% to come next year.
I can’t say this is good news or bad news. It just simply is. This is the new fiscal reality facing the University of Calgary. It will take a while for the budget dust to settle and for our university leaders to re-plan to the new reality.
As chancellor, I’ll continue to proclaim that a quality education is the best investment that an individual, a family, a province or a nation can make in its future. I’ll continue to state that a post-secondary education lays the most important foundation under an individual’s dreams and that skills training enables organizational visions.
I missed watching the budget speech from the Alberta legislature in real time since I attended the PUSH Art Exhibition. Due to its national importance, CBC’s program Power and Politics covered and debated the budget news from the EEEL building on our campus. This was the first time that this program had been broadcast from western Canada. I managed to briefly meet program host Evan Solomon prior to him going on-air. We chatted briefly and took a couple of selfies before I headed downtown.
Chancellor Robert Thirsk with CBC ‘Power and Politics’ host Evan Solomon
