(written a year ago) This brings me to my new home: Calgary. Frighteningly, I see many of the symptoms that led to Detroit’s collapse slowly emerging here. Local wealth, and with it suburban growth, is on the rise. Investments in city and regional infrastructure are also increasing in order to support Calgary’s rapidly growing population. The local service economy is also growing, and property values – already staggeringly high – are skyrocketing. All signs point to Calgary as the place to be in Canada. But, just like in Detroit, much of Calgary’s current growth is built on an industrial base that is at the mercy of fickle consumers, and is increasingly under siege from competitors. The trials and tribulations of Alberta’s oil and gas industry have been well documented; not only can consumers get their oil and gas from other suppliers, demand for renewable sources of energy is rising to the point that supply can no longer keep up. Even if industry’s and government’s much-hyped pipelines are built, it’s only a matter of time before alternatives to energy from Alberta dominate the global marketplace. D
Posted on: Fri, 05 Dec 2014 10:23:55 +0000
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