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Once the driving economic hub, Alberta has faced a lot of financial troubles since mid 2015. Canadians are expressing their concern over the matter but there seems to be no solid action being taken to improve things.
From the period of 2000-2014, Alberta’s energy sector was able to provide Canada with more than $200 billion. Since the fall in Alberta’s income, the unemployment rate has skyrocketed. The province that once provided the people of the country’s less developed areas with jobs has people leaving it to find a better lifestyle for survival.
Alberta had been providing the country with one of its main exports which was crude oil and coal, but the shutting down of three major coal mines has hurt the economy in a drastic manner. The current premier, Notley, although trying to get projects like the Bitumen transferring pipeline, has not been able to make any drastic changes in the economy after taking office.
Right now, the main source of income that Canada is relying upon is real estate but that does not seem like a stable market to really rely upon. Prime Minister Trudeau has been utilizing every photo opportunity to get close to tech giants like Google and Microsoft but that does not seem like a viable solution for a very long time.
The real need here is to start working on the restarting of projects that catered to the company’s GDP a lot more. Is it really a suitable step to close down projects that have helped sustain the country for so long, due to some environmental concerns? Is it fair to the people who dedicated their lives to serving power projects and mines to support the country?
There still has not been much concern over these alarming factors but as winter is approaching, the need for power will present itself with a much more stronger impact.