Quote:
Originally Posted by BlackDog204
In my lifetime, there have been two:
The oil boom that began after the oil embargo by OPEC in 1974, which lasted roughly until the early 80s. And most recently,the oil boom from the early 2000s until 2014. From all a accounts, we will be waiting a long time before another oil boom occurs, if it ever happens again.
|
There have been at least three big ones, with a couple of minor ones.
1981 - was the most affecting, and Calgary actually lost population for 2-3 years.
1998 - was another good sized one, when oil was as low as $11CDN per barrel
2008 - was also a downturn, but it as combined with the financial crisis, and was more about financing of projects, etc..
2015 - was big, but not as affecting as the 1982 bust. It was also slower and more drawn out.
I think you're right in that we won't see any more booms, which is great. What is best for Alberta is a slow steady decline of oil, followed by a slow decline of natural gas.
Threaded Mode