Quote:
Originally Posted by Colin
The energy sector is constantly evolving and I highly doubt that companies like Suncor, Imperial Oil, EnCana, CNRL, and Cenovus will simply roll over and close down the shop when oil runs dry. Based on the knowledge of the oil and gas industry and the established energy sector already based in Calgary, the city will continue to be the energy centre of Canada, whatever that future form of energy will be.
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those companies may not close their doors but many will downsize and most will relocate to wherever the next energy source is coming from....all the advantages that calgary has today is because oil revenues can be translated into lower taxes....it will be a few decades yet, but oil dominance will not last forever and when it is no longer the global currency, calgary will lose its advantage to somewhere else....
if hydrogen fuel cells become the next global energy source do you really think the dominant players in that industry will be based in calgary?....its more likely that they will move to somewhere with water because those locations will be able to offer the same revenue based incentives that calgary does today....the educated workforce will move right along with it and the glass towers will spring up behind them.
the building blocks are in place for calgary to make the transition to a more diverse economy but it isnt reasonable to believe that it will be the powerhouse that it is today once the global economy is not petroleum based.
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