Oil optimism isn’t an investment strategy for Canada
While it might sound like good news for Alberta coffers in the short term, high oil prices actually threaten to accelerate a longer-term trend in investment that Canada and Alberta should pay close attention to as they develop an MOU that will have broad implications for Canadian competitiveness.
The recent Alberta budget was panned for predicting future oil and gas prices at much higher levels than any market analyst expected. But the government might have been prescient, it turns out, as the attacks on Iran elevate global short-term price expectations.
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