Description

Alberta and western Canada is not as diversified as it can be and consequences are seen as a result. The province is still too dependent on the USA market for exports and highly reliant on commodity exports. Currently, over 85% of exports go to the USA and most export revenues tend to be from commodities. A recent Alberta Premiers Council on Economic Strategy and the Competitiveness recognized this structural weakness. This singular reliance means the province receives a lower than world price for oil and gas, as well for beef and other food products. The province commodity export base has not changed substantially and is a risk. Currently, the drastic decline in oil prices is causing further economic declines in the province with many consequences. This current situation shows the need to change.

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