Oil Economy

Just as we must diversity our investments the government must diversity its support for various industries. In this Canada of ours the western lobby was so strong that the federal government gave he amounts of money for the oil industry. Harper thought that the tar sands would bring Canada the wealth it needed to become a oil dependent country like Saudi Arabia.

The people who thought that the country had to look at clean energy and green production would be the key to the future. Germany and European countries have driven their populations to conserve and to support the production of energy from wind and solar power to the point where their reliance on oil has diminished tremendously.

Here our government not only subsidized the oil industry to the tune of billions of dollars but used tax payers dollars to advertise freely for these foreign companies to build pipelines and the development of more tar sand companies. Well the chickens have come back to roost and Saudi Arabia is putting the screws to all foreign oil producers and our economy is in shambles. The Saudi's have turned up the production to make the cost of oil on the world market today at $60.43 per barrel. This is half of the cost six months ago and below the cost of production for the Canadian producers.

The TSE has seen a drop of 600 points in three days and still falling. Where was the government predictors who said to carry on the policy of an oil economy. Ontario has lost 350,000 good manufacturing jobs and they did not receive any support from the federal government. As a matter of fact the last big losses in Ontario did not even cause a ripple at the national level.

We have to watch to find out if the government has a plan to right the huge mistake in the long range planning for Canada's economic future. I guess the falling dollar will help our people who sell abroad and this was the result of the government so I suppose this is their plan #2.

Alberta had everything going for itself and looked at the rest of Canada as poor sisters. Lets see how they handle the unemployment problem in six months when there are thousands of oil workers looking for EI. There has been a huge migration to the oil patch and I hope Canada can cope with the havoc about to come to this oil rich area.