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Originally Posted by Parallex
Well that's what conservative (small "c") demogogues have conditioned people to think at any rate. I'm pretty sure the worldwide economic downturn combined with the shape decrease in the global market price of oil may have had something to do with it y'know.
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Good lord man...you are smarter than this I believe.
Did the decrease in oil prices hurt Alberta, hell yes they did and would ....but in no way did anything cause the total and complete annihilation that occurred other than the most malicious and intentional "legislation" of all time. And it was clear to anyone at the time who had any grasp of economics, that what happened...was going too. It was sad.
I will refer you to this one more time....
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the decline in world crude oil prices that began only a few months after the NEP came into force, the graph of long-term oil prices show that prices adjusted for inflation did not drop below pre-1980s levels until 1985. Given that the program was cancelled in 1986, the NEP was active for five years which are amongst the most expensive for oil prices on record and the NEP prevented Alberta's economy from fully realising those prices
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So now what?