Our Home and Native Land…The true north strong and free
Albertans have been hit by a modern day gold rush. Oil prices have soared and adventures have flooded into the province, everyone wants to strike it rich, this black gold has been flowing freely and many have been riding the wave. These are the glory days in Alberta the spirit of Oil is alive and well.
Oil is everything in Alberta the province has been turned into a big money making machine. This has been the best time of the provinces existence, go big or go home. Suddenly they are more Oil companies setting up shop and the spin-off from the industry has created thousands of jobs.
As the price of Oil climbs so do the dreams of many… we are rich and this will last forever or so we all hope.
We know that oil has been leveraged to get the world to notice that there is a power in play, and oil and those who have it will be the power brokers in the world’s economy. This has help to create a boom in Alberta; millionaires are born money is everywhere. Alberta is rich! With this new found power in the world’s economy comes the boom of industry and everyone wants a piece of the action.
People from across the country flock to Alberta, construction is up and the vacancy rates are down. Everyone is in the search of high paying jobs living the dream of finding gold at the end of the rainbow.
Oil has helped to increase our stock portfolios, there is real estate speculating in Alberta, and of course, many have jumped into the oil ventures market. There is money to be made in every sector. Canada is the place to be our economy is booming we are a natural resource haven. When will it end?
Young entrepreneurs are getting together to start up Oil and Gas companies. There is a rapid expansion in the industry. It has lead to spin-off companies to help keep the production in place and drive the profits into the stratosphere.
Wow, we are a world power!
Then suddenly a worldwide economic recession hits and the price of Oil drops rapidly and the boom is over. The power brokers are no more the spin-offs are now gone and so are the dreams of many. We don’t see it coming because we don’t want it to end.
When do you think this happened?
Easily you could say 2015, but this actually happened in 1970 when oil was selling for $3 a barrel, and then climbed to $15 almost over night and by the end of the decade Oil was $40 a barrel. Then came the world’s economic collapsed in mid 80’s. By the mid-90’s we saw this cycle happen again, and we are seeing it happen yet again.
Canadians are resilient we have lived through the highs and lows of the times and we always recover. This time is no different the sun will soon shine on us again; we will rise up and take the world by storm the cycle will continue. Only the next time hopefully we can learn from our past that nothing lasts forever.