Quote:
Originally Posted by mistercorporate
Some parts of Canada have diversified economies that are absolutely benefiting from the low dollar. I have never seen things this good in this region since 2006, boom times are back and should stay this way for a number of years, if your skill set is aligned with local needs. Cant see the local job market benefiting someone with 6 years of oil sands experience however..
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The oil industry struggling helps diversity everywhere. Canada has traditionally used three industries as a crutch - oil, finance, and telecommunications. These industries generally don't innovate, don't really produce anything, enjoy government sanctioned monopolies, and employ huge numbers of people, but generally speaking when these industries suffer Canada "stops using the crutch" for a while and other industries can grow.
The only industries that Canadians should really care about are those in which Canadians are inventing things, manufacturing things, and providing something to the world that only Canadians can provide (through intellectual property, patents, and legal protections).
Those are the industries worth fighting for and worth losing sleep over if they suffer. Oil collapses? Let's stop using the crutch. Sometimes a crisis is unfortunately the only path forward to stir action from lazy inertia.