Quote:
Originally Posted by SebC
You'll need oil to go back to $35 a barrel for that to happen. Basically, Calgary is the worst place to run any time of business that isn't oil related or that panders to rich people you're competing with the oil industry for resources. We're at a huge competitive disadvantage that would cost a fortune to overcome, in spite of already having low corporate tax rates.
Far simpler and more and more effect to invest money in high-tech, new media, finance etc. in other places. And when they start making more money and you start making less money, that's fine because you own them.
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Disagree. Dubai, for all the oil they sit on, are expecting it to run out in the next 10-20 years. As such, they are diversifying into tourism and service industries, and will be a tourist hotspot that was built with oil money.
When your economy is going to the ter, like the oil economy ultimately will in Alberta at some point or another, you'll be glad there's other industries we can rely on to survive.
Hasn't anyone told you to never put all your eggs in one basket? Well, we have plenty of other eggs to put in many other baskets.