Quote:
Originally Posted by geotag277
Alternative energy investment will not sky-rocket as long as oil prices remain low, in fact the opposite will occur.
Calgary is already doing a decent job at diversifying. The atmosphere in the sector regarding this recent oil drop is not doomsday. It is let's re forecast our growth and it's business as usual.
I don't know why Calgary's lack of diversification is such a focal point in conversation when other major cities, such as Toronto with finance and Montreal with manufacturing seem to not need to diversify away from their major sectors ?
Almost every major city in the world has one sector that makes up the majority of it's economy and if that sector gets into trouble the city suffers. Calgary isn't unique in that regard. Could we diversify more? Of course, and we have been, extremely well, since the 80s. We just need to keep on that track , and I see no reason why we wouldn't.
I don't buy into this narrative that Calgary is some stupid idiotic region that places all it's eggs into a single basket economically and has been pursuing some grandly dumb short sighted strategy.
|
I always hear that we've diversified so much, yet I have yet to see that to any significant degree. If you need a reason look no further than the NEP from the 80's. At a time where prices are sagging and the world is scrutinizing the environmental impacts of the oilsands, while looking to alternative energy sources, pursuing business as usual is short sighted.