VANCOUVER — The premier of Newfoundland and Labrador is warning there could be political consequences for the minority federal government if it doesn't live up to its commitment on equalization.

The province is still smarting from what Premier Danny Williams says is Ottawa's refusal to honour a written commitment that any changes to the equalization formula would not adversely affect provinces.

Newfoundland and Labrador has been reaping energy revenues, which Williams told a business group in Vancouver has somewhat offset the collapse of the cod fishery.

But he says Prime Minister Stephen Harper's refusal to acknowledge his pre-election commitment is a bad sign for what the Tories might do if they ever form a majority government.

Williams is extolling the benefits of his province's offshore oil and gas developments.

He says there's no reason to think that British Columbia wouldn't gain similar advantages if goes ahead with offshore development once a federal moratorium is lifted.