RE:RE:RE:Is there anything to be worried about?Alberta introduced new taxes and all this will be invested in renewable energy.
Concerning US oil demand, US has discovered oil , that is Alberta' problem.
From my part, it is less important how Alberta will recovery, all that I want is ti recover as soon as possible.
After all I read, oil industry will remain in place but Alberta is trying to diversify her industry , especially renewable energy. There is a University teacher in Alberta who is behind this all.
My house is in Calgary , I am very interested about Alberta but I can not change the world and the news.
It seems to be good for Alberta in 2017.
Slinger14 wrote: Alberta surely won't be replacing oil with alternative sources of energy anytime soon. They have a plan to phase out coal-fired plants over the next 30 years, but oil isn't going anywhere. Before the downturn, oil production in the oil sands was expected to triple within 20 years. There are talks of new pipelines. When the price recovers, expansion will resume. U.S. oil demand is at its highest rate of growth in 5 years. There is absolutely no problem with demand. The only problem is supply. With OPEC now pumping at a maximum capacity of 31.5M bpd and world inventories expected to be maxed out near the end of 2016, I believe we are very close to a bottom. Production will have to drop off when inventories are maxed and consequently, price will rise. Oil may be down, but it isn't dead and we will see it regain some of it's glory before 2017.
healthstock1234 wrote: I am very worried about it.
All this happens because of the oil price.
But the world has changed.Renewable energy is an alternative for oil.Paris agreement on Dec 4th,2015 has changed the world.COP21-deal. Canada has 90 days to frame it.
Alberta has 40% or more sunny days in the years and wind than Germany. It seems to be the right place to apply this industry.
Obama and Trudeau have answered very positive on Nov 2015 when Trudeau was in Washington.Rachel Notley-Alberta after Keystone, involved Alberta more in this direction.
It seems that renewable energy and organic food (or non-GMO) will play an important role in 2016,2017 and after....Hope that TSX will be positive influenced by that.Maybe not enough for the moment...Fed will raise the rate gradually, so will see also the impact this year and next year, but also US is very concerned about climate change and renewable energy.
https://www.motherjones.com/environment/2015/12/paris-climate-agreement-explained