I’m sure the separatists movement is really happy about this one.
This is the issue with the Heritage Fund. When Peter Lougheed established it and started funding it, the funds were supposed to be put towards investments in other sectors of the provincial economy so that we didn’t have to rely on the boom-bust oil cycle.
Premier after premier has failed to address the issue of the fund. We just hit $30 billion in the fund last year when the value in 1985 was $14 billion. We have done fuck all to diversify the economy here, it’s been all talk, with the only action being backwards investments like a new AI data centre that’ll end up costing more money than it’s worth.
Canada overall has tracked the price of oil.
Interest rates have caused USD to be far higher in 2022 which caused a divergence, though I’m not sure how they had so much inflation relative to us. I know they didnt do mass immigration, which kept wage pressure high. Their “quiet quitting” phenomenon that we once had never ended.
Gee, thanks, Sherlock.
The sad part is there are a lot of people who don’t understand this.
“Please god, give me another oil boom and I promise not to piss it away this time.”
Iran war great news for Alberta and other Western oil exporters
