These are difficult times for Alberta.
The oil price-war between Saudi Arabia and Russia has flooded the world-wide market — a market that had considerably slowed due to the COVID-19 outbreak.
West Texas Intermediate crude hit near the $30 mark on Monday — and with Alberta setting a benchmark of $58 for its budget, it doesn’t take Adam Smith to figure out these are going to be tough economical times.
While it’s going to be tough on the provincial government, it’s going to be even tougher on the men and women who work in the oil industry — an energy that not only drives the provincial economy but is the major player in the Canadian economy.
Now is not the time for complaints “Where is that TransMountain Pipeline? or “Oil and gas is destroying the planet.”
It is time for the country — Alberta and Ottawa — to work together to find a way to help those in the Canadian oil industry.
It will take some out-of-the-box thinking to find a solution. Let’s be honest, there’s not much Premier Jason Kenney or Prime Minister Justin Trudeau can do in regards to Saudi Arabia and Russia setting their prices.
But what they can do is work together to help the Province and, most importantly, the people within the industry.
There has to be a clear strategy on how the oil industry can survive in Alberta — a strategy that has to include job incentives and tax relief to Albertans.
Of course, this all has to be done with the backdrop of the COVID-19 crisis.
Hopefully, these two leaders can forget any past differences they may have and come to a consensus that will be good for the entire country.
Something has to be done to ensure the well-oiled Canadian economy doesn’t fall completely off the rails.