Not sure if this particular oil market price correction is permanent but Ive been saying for a couple years now that when the oil bubble bursts N.B. will be in for a world of hurt. The prov has been happy to hypocritically export its youth to Alberta & Sask to work in natural resources sectors and boost those provinces economies while saying no thanks to developing its own at home. Employment numbers and even tax revenue were artificially boosted by young NBers working stints out west and spending their earnings back home. A permanent cheap energy market that breaks the tar sands business model would mean that N.B.s bizarre cycle of trading labourers for equalization money will have to end. What are the unemployment #s going to look like when will the tar sands ex pats are back in NB waiting for a phone call?
Posted on: Thu, 08 Jan 2015 07:56:42 +0000