Issue #38

May 10th, 2021

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Economic Resilience by Regions & Sectors

WEBINAR

FRIDAY - 4PM MT MAY 14th

COPY THIS  https://us02web.zoom.us/j/85896241732

To view former webinars CLICK HERE

Last week 3 topics were discussed HERE, first an Overview of the survey results indicating: a turnaround in Alberta's economic resilience in parallel with recovery of the price of oil AND  identification of the best measures of resilience as jobs and corporate investment. Also discussed were: 1. An apparent increase in distrust traditional sources of knowledge and authority and 2. Creativity and the prospects for a film industry in Edmonton.

This week HERE the webinar will open with a review of the results-  cited below, on how economic resilience differs by Region and the role of government in economic development. What discussion will follow? Who knows?  (Hint. The plight of Line 5 is a very juicy topic.) The weekly webinars are wide open and the subjects discovered on the fly - part of the fun. Join us.

Respondents in the Calgary Region and to a lesser extent those in Other Regions view their economies as more resilient than the Edmonton Region.  All Regions however are below 50% - Neutral, attributed to their vulnerability to volatility in the oil and gas industry.                                 Interesting is that the Calgary Region is viewed as the most exposed to volatilities in the oil and gas industry and the impact on corporate investment and jobs. Yet those the Calgary Region view their economy as more resilient than others.                                 The apparent paradox may be explained by an analysis of the economic make-up of the Calgary Region.  It  may be more diversified and while the most exposed to volatility in the oil and gas industry, it may have the capability of mitigating the impact by being more diversified.                                 Next week we will review the economic makeup of each Region - that is the mix of industries, professions and public services and the implications on each Region's resilience.

Turning now to the role of government. As we have seen in every seasonal survey undertaken since 2015, there is very little change in how respondents view the most appropriate roles for government to make Alberta more resilient.                                 The most appropriate roles are: Formulating policies and employing incentives for encouraging small business innovation and promoting entrepreneurship and small business start-ups.                                 The least appropriate roles are: investing directly in projects offering immediate job creation and using government purchasing power to develop and attract businesses to Alberta.

Noteworthy. The municipalities comprising the Edmonton Region have agreed to collaborate in matters of economic development and to a form of tax sharing. FOR MORE Edmonton compliments Alberta's committed to accelerate innovation FOR MORE

Commentary. No pain. No gain. Enbridge has explained the impact if Michigan proceeds to close down the Line 5 pipeline HERE. Soon we will learn just how close is the alignment of US and Canadian leadership in addressing climate change. Closure would also reflect the considerable level of tolerance of both leaders for pain and therefore just how deep is their commitment in addressing climate change. Anything less than closure would be viewed by climate change advocates as a compromise on the leaders' declared commitments to reduce emissions and do whatever is necessary to save the planet.