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Sunday 7 August 2016

The Good the Bad and the Ugly of reliance on one Industry


"The Good the Bad and the Ugly" of reliance on one Industry. Oil is hurting still, which means Oil country continues to shed jobs.

In my own backyard, Alberta 'the have' continues down the 'have not' road. It would be an opportune time to gear up, retrain and put these folks to work in the Green Revolution as per the Greenpeace report last spring which suggests:
Alberta has the potential to create over one hundred and forty-five thousand new jobs — 46,780 jobs in renewable energy, 68,400 jobs in energy efficiency, and 30,000-40,000 jobs in mass transit. Investing in the low-carbon economy would put Albertans to work right away, while diversifying the economy, reducing pollution and health care costs, and building stronger and more resilient communities in the process' 
all it'll take is for Trudeaumania to roll into town and help us out a little

Misery continues across the country
  • Newfoundland and Labrador 12.8 per cent (12.0) 
  • Prince Edward Island 9.6 (11.0) 
  • New Brunswick 9.7 (10.3) 
  • Alberta 8.6 (7.9) 
  • Nova Scotia 8.4 (8.2) 
  • Quebec 7.0 (7.0) 
  • Ontario 6.4 (6.4) 
  • Saskatchewan 6.3 (6.1) 
  • Manitoba 6.2 (6.1) 
  • British Columbia 5.6 (5.9) 
  And from the linked article
Things have changed drastically in the last two years. the massive supply glut continues to weigh in on the prices. During Asian trading hours on Friday, as of 2:31 (EDT), the US benchmark for crude oil, West Texas Intermediate (WTI) was down 1.12% at $41.46, while on the other hand its counterpart, the global benchmark for crude oil during the same time was down 1.15% at $43.78 per barrel.

Companies with smaller market capitalizations began to feel the brunt of the oil prices. In the past two years, over 85 companies have filed for bankruptcy. if the crude environment does not improve in the future, the companies might see a further increase in debt and decrease in profitability.

The current fundamentals of the crude market show that a supply glut is still there and would take some time to clear out from the market." more on Oil prices


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Lord Nicholas Stern

Today’s young people can and should hold their parents’ generation to account for their present actions. They can elicit an emotional response that can motivate action. If thinking about the lives of unborn future generations seems too abstract to motivate you to act, try instead looking a young child or grandchild in the eye and asking yourself what sort of future you are leaving for them. There is something that, on reflection, many adults would surely find repugnant in the idea that they will leave their children a damaged planet that will radically affect their life possibilities. Lord Nicholas Stern

Kiribati President Anote Tong

"…I remember I had been trying to convince him to visit Kiribati and he did in 2011. He came to Kiribati and I remember he went to visit one of these communities that was flooded every time there is very high tides and there was this young boy who stepped up to the Secretary General and said Mr. Secretary General, you are a very important man you know, is there something that you can do to ensure I will have a future, that I will have a home. And the Secretary General came back and he said Mr. President I have been listening to you at the General Assembly but I never truly understood what it was you trying to communicate but now I do and I feel and I understand I would do everything that I can”