I have recently had the opportunity to attend a meeting in which one of the guest speakers was an Alberta Economist. His words of wisdom were:
- $50 oil is the new $80. The main factor in the lower price is the shale fracking that is being done in the United States and the supply of oil they are finding.
- Canadian dollar exchange rate should stay in the same range as it is today.
- Alberta economy should grow at a rate of 2%. Please note however that higher paying energy related jobs are being replaced by lower paying opportunities in different sectors. Alberta is use to a 4% growth rate.
- Canadian interest rates are expected to stay in the same range as they are today.