Quote:
Originally Posted by bizkitgto
Care to elaborate more?
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Canada is a first world country, with ample resources, functioning courts, freedom of movement, an educated work force, developed capital markets, excellent international relations, political stability, a sovereign currency, control over water/food supply/energy etc, etc. The opportunities offered in the country are more than enough for individuals to succeed, domestically and internationally.
Oil and gas is capital intensive as an industry, and the velocity of a dollar spent by the industry means it supports a number of other businesses. Banks, railways, property, and construction are all beneficiaries. A lack of pipelines curbs growth. If you're not hiring you're firing, especially when operational efficiencies and technological advances lead to less people being required to sustain production. Capex spend slows down, and all that money flowing through to other sectors slows as well.
Does everyone just give up though? No. The framework of success still exists. It's not destruction it's change. Some people fight to keep up, and others fight to keep things the same. Canada will persevere.