Quote:
Originally Posted by Red Mile Style
Hey, thanks for posting that!
That is quite a substantial amount of money, but Alberta's economy rests *largely* on a non-renewable resource. Is this enough to sustain the province *when* the oil runs out? Plus, if I remember correctly (and it's completely possible that I am making this up) the administration of this fund is wonky. But, again, I can't really say. However that seems to be a large sum of money, and it is growing, so I do feel better about the whole situation.
I guess maybe a more diversified economy would please me. Maybe invest some of this money into other ventures that can prove to be beneficial after the economy is no longer oil-based. I just don't want to see people in the hundreds of thousands being screwed over and signing their lives over to banks without anything there for them.
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Oil doesn't run out for about 150 years. A North America version of OPEC would do nothing, OPEC will still control oil prices. We have a sizable Heritage fund, Royalties structure is renowed around N America.
the Oilsands break even price of $32 above is at current labour cost levels which are outragous, at normal levels they would work at $25.
Crisis averted eh?