Quote:
Originally Posted by Northendzone
Seems to me that fossil fuels will still be in demand for quite some time yet, but, I am not sure how to diversify the economy though. Right now if o&g is strong, then the rest of the economy goes well due to all of the spin off.
Of course it is unlikely that notley and friends can steer us out of the current quagmire unless the opec guys decide they have lost enough money and jack up the price of oil overnight.
|
You can diversify your economy by designing and building next generation devices that use the product you have, where demand is drying up. Alberta should be leading the world in developing products that use fossil fuels more efficiently, and developing demand for the fossil fuels through the manufacture and sales of these products.
For example, Alberta should be designing and building fuel cells for clean electrical power and heat generation. They should be focusing on residential units fed with natural gas that generate electricity for power, and heat for water and HVAC use. These could be used on or off grid and make homes completely self-sufficient for power generation. This would drive sales toward this tech and then create a larger market for natural gas.