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If that ends, well we'll have money to invest in new things once the economic heat dies down.
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No you wont. All that money that Alberta's been earning from oil production is being paid out right now in the form of low taxes for Albertans. The sort of wealth fund you're talking about is virtually non-existing. Want to see how to properly manage revenues from a non-renewable resource, look at Norway.
The idea that the people of Alberta are being prudent with their oil money is a total farce. And further's my point that short term economic growth does not equal long-term economic health.
The fact that people see rapid, unchecked development of the oil sands as a sacred cow in the name of economic growth is frankly highly disturbing and shows a real lack of nuance and understanding on Alberta's precarious economy. Couple that with very real economic impacts felt elsewhere in the country thanks to the gradual transition to a petro-state and it simply isn't a viable starting point to say that if you don't want continued oil sands development you don't support Alberta or Canada's economic health.