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Alberta is not experiencing the same economic benefits that it did in the late 2000s and mid 2010 during the last oil boom, say economists. Article content Good Morning! Article content Article content Canadian oil companies have raked in record revenues over the past few years as the price of crude climbed — yet Albertans might be wondering, where’s the boom? The value of oil produced in Canada’s energy hub has averaged about $12 billion a month since the beginning of 2022, 75 per cent higher than in the last Canadian oil boom in 2014, writes Charles St-Arnaud, chief economist at Alberta Central. Yet despite that, the province is not experiencing the economic benefits that it did in the late 2000s and mid 2010. Alberta started outperforming the rest of the country on business investment in the 2000s when oil prices rose above $30 a barrel, says St-Arnaud. A further surge that began in 2004 boosted investment even more. As higher prices made the oilsands economically feasible , producers ramped up investment there. Between 2005 and 2014 the natural resource extraction sector gained 43,000 jobs and construction added 91,000 jobs. Employment in the professional, scientific and technical sector grew […]
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