12/19/2014 06:07 EST | Updated 02/18/2015 05:59 EST

Low Oil Prices Will Affect Alberta In A Big Way, Says Prentice

CALGARY - Alberta Premier Jim Prentice says a number of capital projects, including a new cancer-care centre in Calgary, may have to be delayed due to falling oil prices.

Prentice says the government is looking at a wide range of projects in the five-year capital plan, but adds none is being cancelled.

He was not specific on what other projects might be delayed.

Alberta has been hammered by the plunge in the price of oil from US$100 a barrel in the summer to the mid-$50s this week.

Prentice says if prices stay that low, Alberta's bottom line will be $11 billion poorer in the next two years.

Construction on a new Calgary cancer facility was to start in 2016 to reduce demand on the aging Tom Baker Cancer Centre.

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