BC the next Newfoundland?

[maverickeastwood]

Central and northern BC is taking a sh*tkicking right now with the forest industry in the toilet.

http://www.princegeorgecitizen.com/i...115&Itemid=557

http://www.canfor.com/news/pressreleases/

This is nuts. I left there at the right time.

[MarchHare]

Heh...funny how perceptions change. When I saw the thread title, my first thought was, "Did someone discover large off-shore oil reserves in BC that will make the province rich?"

Going by current projections, Newfoundland will no longer qualify for equalization by 2009.

[mykalberta]

Originally Posted by MarchHare

Heh...funny how perceptions change. When I saw the thread title, my first thought was, "Did someone discover large off-shore oil reserves in BC that will make the province rich?"

Going by current projections, Newfoundland will no longer qualify for equalization by 2009.

They may not qualify but I believe they will still get them for 5-7 years.

[lifer]

They'll be fine. They've got lots of culture in BC.

Seriously though, I think the forestry industry will bounce back eventually. Forestry products are important commodities in North America and BC has a vast inventory of it.

[mykalberta]

Originally Posted by lifer

They'll be fine. They've got lots of culture in BC.

That was pure awsomeness.

[Sylvanfan]

Well this is an industry that will be hard hit by the Canadian dollar's strength vs the US dollar. I left PG in 2001 and I think that was a good time to get out as it was badly depressed than. Best thing I did in P.G. during my time there was not make any type of committment to that city by purchasing property as I was able to just leave. People who owned houses there got burned as they left town. It did have a bit of a comeback from what I heard, but this looks to be another down turn. Forestry is a very cyclical industry and when it goes bad...it goes bad. But eventually things do rebound.

[FlamesAddiction]

I live out here and travel around the north regularly for work. Ironically, the industry that I am in actually gets more busy when these things happen. As a matter of fact, next week I am doing a job in Fort St. James which has around a 50% unemployment rate right now.

To compare it to Nfld is a little extreme though. Places like Fort St. John, Dawson Creek, and even Fort Nelson are booming right now... as is the Fraser Valley and parts of the southern interior. Even Prince Rupert and Kitimat are expanding their ports.

It's true that places in the PG area are dying off, but the province as a whole is alright. Besides, there are places in Northwestern Ontario and Quebec that have been suffering as well, and for longer.

[MelBridgeman]

No way BC turns into NFLD...Tourism will save it

[troutman]

Great. More Canuck fans filling up the Dome.