Thursday, March 12, 2009

Alberta A Safe Haven In Canada

Other countries around the world are in serious economic turmoil but Canada is blessed to have the most stable economy. Among Canada's provinces Alberta is the most balanced with the healthiest economy and growing infrastructure to support population/investment growth.

You may read the the oil sands are bust and all the projects have stopped but this is not accurate. There are still over $170 billion projects underway only $90 billion have been delayed. Don't kid yourself, the need for oil is increasing while the production of oil is decreasing. Until the world finds a way to make a solar car (or any product) without using any fossil fuels, that need will become more and more prevalent.

"When I look down the road, it’s going to be grimmer than I thought it would be for the next year, year-and-a-half. This is going to be an intense downturn," "there’s no better jurisdiction to be located in than Alberta," "At the end of the day, so many fundamentals are positive in the case of Alberta, the best strategy is to treat this as short-term." Michael Percy, dean of business at University of Alberta.

The Alberta economy will be back on track leading the nation as oil prices improve and companies start pumping money back into the oil sands.

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