Ralph Klein, the former mayor of Calgary, led the party into the 1993 election, promising a new era of debt reduction and fiscal accountability. He walked away with a slim majority. Ralph Klein's folksy appeal helped the Progressive Conservatives renew themselves. He led the party through two elections, gaining in popularity each time. The price of oil rebounded and the government, despite low rates of taxes on the wealthy and corporations, was showing a surplus of $3 billion every year. In early 2004, Klein announced that the Alberta debt had been paid in full. He was rewarded by voters in the 2004 election, despite running a campaign with no new policies. His party lost a number of seats to the Liberals, and during the campaign he stated this would be his last election. In 2006 at a Progressive Conservative convention delegates forced him to pick a retirement date by giving him relatively low numbers in a leadership review.