Oil sands no longer profitable, will Alberta suffer a bust?

[cBach]

There are a few takeaways here.

1. We are never going to "run out of oil" at least not in any of our lifetimes. The world is swimming in oil right now and there are so many untapped areas that we have the technology to tap into, but it just isn't profitable to do so.

2. Places like Alberta will continue to go through boom and bust cycles, as will ND, TX, etc...

3. Eventually, if Africa can ever become developed, then it will drive the price of oil high as Africans will start getting cars, A/C, etc... I think only South Africa has any development at this point but China is starting to build factories there as the factories have cheaper labor than in China. The timeframe for this is iffy, but I predict in about 20-50 years.

All this assumes no world catastrophe like a war or major hurricane in the Gulf or something.

[North 42]

Originally Posted by cBach

All this assumes no world catastrophe like a war or major hurricane in the Gulf or something.

Or global warming!

[fusion2]

Originally Posted by cBach

3. Eventually, if Africa can ever become developed, then it will drive the price of oil high as Africans will start getting cars, A/C, etc... I think only South Africa has any development at this point but China is starting to build factories there as the factories have cheaper labor than in China. The timeframe for this is iffy, but I predict in about 20-50 years.

.

Africa isn't going to develop 40 years behind the rest of the world when it starts to really kick in gear. If the Toyota Corolla or Ford Focus by default are a hybrid or electric (No fully Internal Combustible Engine available anymore, plants just won't be churning those relics out anymore), than that is what they'll be driving - either a hybrid or electric.. As much as there is talk about the decline of fossil fuels, I think another elephant in the room is the changing nature of work.

In two to three decades, 42 percent of existing Canadian jobs (you can probably insert U.S here as well) in 2017 are expected to be replaced by automation. Things are changing pretty rapidly so the key is that we need to change and as others have said look to diversify. Its not just an Alberta problem. Its a Canada and global problem...

The solutions to the future won't be found in the mind of one Billionaire as much as another - I'm pretty sure of it!

https://futurism.com/4-bill-gates-th...ic-income-yet/

Its sad that the best of us aren't elevated to lead our societies isn't it!?

[fusion2]

U.S State Dept. approves Keystone XL pipeline

State Department approves Keystone XL pipeline