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CALGARY – To take the temperature of the local economy, Lloydminster Mayor Gerald Aalbers only needs to look out the window. From his office at City Hall, Aalbers — who, because Lloydminster straddles the Alberta-Saskatchewan boundary, has the unique distinction of serving residents in two provinces — has a direct line of sight to Highway 16. The highway is a major east-west corridor frequented by heavy-haul trucks and half-tons on their way to the oilfields that dot the surrounding region. But in spite of 2022’s sharp uptick in crude prices (hitting as high as US$120 per barrel earlier this year before declining to the mid-$80 range this fall), and even as Canadian oil companies boast record revenues and all-time high production levels, the volume of traffic along the highway has only moderately increased, Aalbers said. “We’re seeing traffic pick up earlier in the morning and a little more traffic throughout the city,” Aalbers said. “That’s good, because it means wells are being drilled. It reflects some general optimism in the industry,” he added. “So I think we’re hitting some speed, but we’re not accelerating yet by any means.” “Not accelerating yet” may be the perfect way to describe the […]
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