Ontario to become "have not" province in 2 years, Western provs to subsidize the east

[Asher]

Originally posted by Ben Kenobi
Yay, BC is over the top again. Great!

I thought you said we were destined to stay on the other side.

You think a lot of things that don't exist in reality. This is just another example.

[Wezil]

Your own article points out that even as a "have not" province Ontario still won't recieve any money and actually still contributes some $21B more than they recieve (ie they support the federation).

What exactly is your problem?

[The Mad Monk]

His problem is one or two years hence.

[Asher]

You don't see a trend in Ontario's suckfest?

[Wezil]

Originally posted by Asher
You don't see a trend in Ontario's suckfest?

Trend? Not so much as a cycle.

Ontario has had low points before (again as your article points out) and will again. Also, as your article points out, Ontario isn't sucking so much as some other provinces are doing extremely well at the moment.

AB is doing very well at the moment but they have a history of being a bust/boom economy. I think it is pretty sad a province that has the wealth AB has had over the years yet didn't do jack **** to diversify the economy. Hopefully they learn this time and Ontario doesn't have to support them through their next downturn.

[Asher]

AB's economy is much diversified, actually.

When was the last time Alberta received equalization? Wasn't it in the early 1970s, before Big Oil really took off?

[Wezil]

I hope so but I guess the real test will come when the energy industry takes a downturn.

I do however point out that you are in TO and not AB.

[Asher]

Originally posted by Wezil
I hope so but I guess the real test will come when the energy industry takes a downturn.

I do however point out that you are in TO and not AB.

Only for another year until the SO graduates from school out here. The Job market out here, even computer-related, isn't nearly as hot right now since the banks are screwing up. Meanwhile, energy jobs keep soaring.

In September 2006, Statistics Canada confirmed Alberta's current economic growth as the strongest such growth by any province in Canadian history, averaging 12.6% per year since 2002 compared to China's 14.8% average.[14] Current projections are that barring some catastrophic event, the boom will last well into the next decade. Lower energy prices are not believed to be as likely as they were in the latter decades of the 20th century (mainly due to China's growth) and even if prices were to drop significantly the impact of such an event is not expected to be as severe for Alberta - its economy is more diversified now than it was in the 20th century and the energy sector is now dominated by oilsands operations which are much more capital-intensive, and owned by companies that are much more sophisticated and better financed than their predecessors.

The economy is also becoming increasingly diversified: the energy sector, which in 1985 accounted for nearly 40 per cent of Alberta's gross domestic product, now represents just under 19 per cent. Strong gains in the manufacturing, technology and service sectors make up the difference.

[Wezil]

I'm not doubting their current strength or your claim they have now diversified. Simply pointing out that was not their historical position.

I too think high energy prices are here to stay but I saw recently the absolute *****ing and moaning from the energy companies in AB re the debate on royalties. I can only imagine what effect certain "environmental" taxes/levies/whatevers might do to them.

I guess the real issue of the thread would be "Is Ontario diversified enough?". I think it is. While manufacturing and heavy industry are taking a serious hit at the moment there are many more facets to the provincial economy which can keep things going. For example, the recent downturn in the auto industry would have crippled the province 30 years ago.

[Garth Vader]

Originally posted by Asher
When Saskatchewan is a "have" province and your province isn't, something is majorly ****ed up.

Hey

[Wezil]

In the big cities that is called a "drive by shooting".

[Asher]

Originally posted by Garth Vader


Hey

Did someone say something? Where are you??

[Dinner]

The really cool news about the commodities boom, from my perspective, is that we now have full employment for all geologists and wages are skyrocketing. Hell, when I graduated in 2001 it was hard to find a job and many friends I went to school with settled for just $40k but now the average salary for a geologist with zero to two years experience has shot up to $82k per year.

We're all getting big raises.

The sciences and engineering is where the money is!

[Q Classic]

lol, Canada, with an economy filled with Loonies.

[Asher]

Word