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Originally Posted by VladtheImpaler
Some interesting posts, except Daradon's.  I am exactly the same demographic as Cliff, and recall our 21% mortgage and my parents turning over the keys to the bank. I particularly like the posts of puckedoff and Frequitude... I recall the "diversification" mantra since 1980 and nothing has actually ever happened. Nuclear is interesting, but that industry seems to be in the doldrums, and I don't know how realistic it is to go there from scratch. If I were to guess, our diversification would have to begin as some sort of a spin-off from NG - it's hard to imagine anything that's not already here coming in, given the remoteness (relative)... |
Yeah but how does one diversify? It takes money and manpower. When times are good and there's lots of money, there's no manpower because of the giant vacuum that is the O&G sector. I don't think we could afford to diversify at that time. There's also a lot of public sector groups needing cash to fund infrastructure, so diversifying into something like Solar/nuclear, etc probably isn't high up on the list of expenditures.
Right now we are likely gaining on the manpower issue, but there's no cash to fund new ventures unless we borrow. Will Albertans be ok with that? I certainly am, as long as it gets paid back when times are good. I doubt the majority hold that view, especially after the last debacle that was the PC Government. Hard to trust government these days.
IMO you need to time it properly. Borrow when times are not so good, invest WISELY into the Ab economy in non O&G, and when the royalty revenues turn around pay out what you borrowed. It takes a strict government to follow that though, because when times get good everyone starts clamoring for cash, totally forgetting about debt servicing.
I still haven't formed an opinion on the NDP yet (still too early), but if they can reign in the waste and invest properly over the next few years I know I will certainly vote for them next election.