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Originally Posted by photon
That's one thing I've read that is very different from the early 80's.. Calgary's economy isn't nearly dependant on energy now as it was then.
So if (when?) energy tanks it'll be bad but not like it was in the 80's where people were walking away from mortgages and stuff.
At least that's what I read. It's all a big guessing game.
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The chamber of commerce states that energy only accounts for 8% of the total economy. It was over 30% in the '80's. There will not be a crash like that again. (barring a new NEP).