Damage From Alberta Oil Industry Crisis Spreading Throughout Canada

Portfolio manager says “every Canadian should be up in arms” about it.

The damage from the ongoing crisis facing the Alberta oil industry is spreading throughout Canada.

That’s the warning from Greg Taylor – a portfolio manager with Purpose Investments.

Speaking to BNN Bloomberg, Taylor said “It’s really been almost a disaster for the Canadian economy, this oil price differential. This is a story that every Canadian should be up in arms about right now, because these pipeline delays and the lack of an outtake for a lot of the Western Canadian product has really hit the entire Canadian economy and is affecting our [S&P/TSX Composite Index] also.”

Taylor also pointed out how Canada’s national unity is being damaged:

“Alberta is in panic mode right now. We’re hearing things about Alberta separatism coming back as an issue, which I think is a longshot, but things are just not good in Alberta right now and that has really been the fuel for this economy for a while.”

Justin Trudeau’s betrayal of Alberta has now been joined by the Quebec government, where the Premier of Quebec said there was no “social acceptability” for pipelines carrying “dirty oil,” even has Quebec keeps cashing the equalization cheques paid for by Alberta.

The long term prospects for both the Canadian economy and Canadian unity are going more ominous by the day. No country can survive in the long-run if one region is ruthlessly exploited and ripped off over and over and over again.

Spencer Fernando

12
Share Your Thoughts

avatar
12 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
11 Comment authors
Clive Edwardsshawn harrisMike Allanpeter blackLen Shier Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Ron
Guest
Ron

Alberta separation is not a long shot, rather it is guaranteed.

Ed Peebles
Guest
Ed Peebles

The Old SNAKE of Your out of your Class and are not fit to criticise your Better’s is starting to coil and show it’s fangs once more . Quebec should go back to their poverty before equalization payments !

Del
Guest
Del

When is Notley going to reduce the flow of oil to Washington refineries by 8.7 % as well as the gas & diesel put through the existing Trudeau Pipeline? Would BC be forced to import petroleum products by the horrid disgusting polluting Orca killing salmon poisoning tankers?

Don Taylor
Guest
Don Taylor

When Quebec wanted to separate we should have encouraged them to leave

Ron Voss
Guest
Ron Voss

How about Albertans withholding their taxes?

NancyW
Guest
NancyW

Daddy P. Trudeau must feel proud of Baby Justin, finally his dream coming true, the breaking up of Canada, as long as we can go in debt to pay for his province so it will be financially well off and have it’s separation paid for by the rest of Canada. That is why he insisted on being a federalist, until they had lots of businesses and many investments so they could separate in style, while the rest of Canada fails drowning in debt. This was told to me by two french men back when P. Trudeau was pretending to be… Read more »

Len Shier
Guest
Len Shier

Is no-one heading up a Western Separatist movement yet …?? I’m ready to join … this situation is totally insane and has to stop NOW!! Why aren’t we all marching on Ottawa and demanding the resignation of this part-time drama coach who is intent on destroying the country … what is everyone waiting for?? This clown is even worse than his despicable old man, which is going some! This insanity has got to come to a screeching halt and damn soon!!

Don Taylor
Guest
Don Taylor

separate I will be first one to sign, from Manitoba west to Vancouver Island

peter black
Guest

The ENERGY EAST pipeline was and is the key to this entire mess. How can so many politicians be so stupid and pig headed about such a simple solution. Again and again the greed and selfishness and victim mentality of Quebecers raises its ugly head and destroys the unity of this great country (not so great now) We need to create ENERGY EAST CORPORATION – get selling the shares and ram an underwater pipeline from eastern tip of Ontario to New Brunswick and tell Quebec they can eat all their cheap hydro power. At some point Albertans will revolt like… Read more »

Mike Allan
Guest
Mike Allan

It’s truly impossible for most of us to believe that our whole sovereign country is being held hostage by this evil socialist dictator trudope.There must be some safe guards bilt into our government system other then the always 4 year vote.The libtards are now in step with the UN globalist migration pact as of December 10/2018 that takes power away for the law abiding citizens.What it comes down to is little or no industry(Alberta)full migration/open borders equals poverty and crime and corruption. I believe 11 more months of the little socialist dictator trudope is to late for most families with… Read more »

shawn harris
Guest
shawn harris

It is no coincidence that both times our national economy and our national unity have been under severe threat, that a Trudeau has been in power. Both Trudeau’s, father and son are extremely treasonous, deceitful to the core, arrogant and narcissistic. Each of them, though their methods differ only slightly, their end game has been and still is the destruction of Canada. Pierre Trudeau with his strong desire to turn Canada into a copy of the Soviet Union and Justin Trudeau to have Canada and Canadians, resemble that of a northern Cuba. And both started the same way, by undermining… Read more »

Clive Edwards
Guest
Clive Edwards

I ran as a Western Block Party candidate a few elections ago. I’m starting to get pissed off enough to do it again. The longer Canada sucks the west dry, the more likely the West will vote to de-confederate.