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Originally Posted by DavidK93
Calgary's had several oil booms and previous to the early 90's was a city of boom-bust cycles.
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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.
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Since the mid 90's the city has slowly been moving away from oil and gas, a slow move, but a steady one.
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This is just not true. Alberta lives and dies with the oil and gas industry. I believe it was Peter Lougheed tried unsuccessfully to diversify the economy, but in the end, it did not work.
Now that we have Danielle Smith and the UCP in charge, they are doubling down on the oil and gas industry, and are actually impeding efforts to diversify the economy, especially regarding green energy.