Enbridge Inc. the Calgary-based pipeline corporation said that it was going to be cutting more than five-hundred jobs including three-hundred and seventy in Canada while getting rid of almost 5% of its workforce.
This timing symbolizes just how many problems the city, the government, and Albertans are facing right now.
For each stop the economy moves forward, it takes one step back.
Despite the talk on diversification, protecting public service, improving pipeline access, etc. it is still very tough out there.
And, it doesn’t look like things are going to get any easier.
After an address which lasted thirty-one minutes, the premier said that the government is not certain on whether the worst has now passed.
She said that it was premature to say that presently. She feels they are still influenced by oil prices. But, they are looking at how much capital expenditure investment they will get over the next few years.
The speech encapsulated everything her government has done since it came to power in May 2015. She did very little to assuage the critics who believed Alberta didn’t have a long-term to balance the books or improve the business climate in the province.
Even though progress is being made, the energy sector still account directly for around a quarter of Alberta’s GDP and 6% of their employment.
With lower prices of oil, employment last month in Alberta dropped by 2% as compared to 2015 which resulted in 47,000 fewer jobs in the country.
It’s obvious that the province will not be able to influence oil prices, but groups are becoming frustrated about some of the policies of the NDP making things worse, particularly as far as the push towards a $15 wage and the carbon tax.
There are other policies adding to the burden too. The workforce certainly can’t take so much. These are the questions Albertans need to think about nowadays.
The 31 minute speech cost Alberta taxpayers $20,000.