Sunday, June 03, 2007

Hot Economy 5 to 8 With Good Behavior

If you are worried that Alberta's hot economy will freeze any minute - don't. Taking into account the $100+ Billion of smart money investmented into the province, economic growth rivaled only but China and immigration numbers that are leading Canada; this province is in for a long hot economic run.

IF Alberta was only about oil the above graph courtesy of should quell your fears. We aren't even at the beginning of the big increase in oil production. Alberta has an incredibly diversified economy, oil is big, but other industries like nanotechnology will help keep the boom alive.

"Strathcona County’s manager of economic development says there is still at least five to eight years left in Alberta’s red hot economy.
According to Gerry Gabinet this cycle will continue for several years because of the huge amount of oilsands investment in Alberta as well as in Strathcona County.
“We are now more of a player in the world marketplace than we were before,” said Gabinet, noting the recent investments of huge oil companies like Statoil of Norway and Total of France."

"When this economic phase ends, Gabinet said he doesn’t believe it will be a huge crash.
“It’s not going to be a downturn but a levelling off of activity,” he said.
Gabinet said he sees it more of a “plateau” as the prices for things like real estate can only go so high.
He said the levelling off won’t be a bad thing, when it finally does come around.
“We see it as a breather. All this growth has happened and we’ll have a chance to catch up on all the other projects,” he said."Full Article