09/05/2026
Who forgot to double-check the Excel formulas before hitting save? ππ
π The B.C. government says four calculation mistakes caused it to overestimate how much money the province expects to collect from natural gas royalties by about $1.46 billion over five years.
π In simple terms: natural gas companies pay B.C. royalties for extracting publicly owned resources. The province tried to predict how much that would bring in, but the spreadsheet math was wrong.
π The biggest mistake involved currency conversion. Some natural gas prices were already listed in Canadian dollars, but were mistakenly treated like U.S. dollars and converted again, making the expected revenue look higher than it really was.
π As a result, B.C. now expects about $306 million less in royalty revenue this year, plus an average of roughly $292 million less per year over the following four years than previously forecast.
π Important distinction: $1.5 billion didnβt disappear from a bank account. This was an error in how much future revenue the government expected to receive. Updated numbers are expected in B.C.βs next fiscal report.
If you made a $1.5 BILLION spreadsheet mistake at work, what would you do? π