The Future of Edmonton

[EdmTrekker]

"Moving forward, if we’re going to pursue the oil sands business, we need to learn from our past mistakes and demonstrate that we can be good stewards of this complex resource that we’ve inherited by chance. The activity is going to happen; as long as oil is higher than about $50 a barrel, the extraction will continue. We need to orient ourselves single-mindedly to making it cheaper, cleaner, greener, faster and safer, and then we need to apply that intellectual property to other environmental challenges and industrial processes around the world. That should be our next nation-building project – create long-term value out of this one-time benefit. So when we’re done up north, when we’ve extracted the last of the extractable, economically feasible resource, there’s still some reason for Edmonton to exist."

I am not sure what he is saying in that last sentence. That Edmonton is ONLY about a service centre to the tarsands? How do you interpret that comment?

http://www.theglobeandmail.com/globe...ticle22151888/

[Coldrsx]

I would not read too much into that comment, he is simply reminding us all to diversify, value add locally and become more resilient/innovative in terms of who, what and where we do things.

[Airboy]

You can say that about most cities. YEG was here long before the Oilsands and will be here long after.

[Daveography]

^ But in what form Edmonton exists post-oilsands depends a lot on what we do today to mind our dependence on non-renewables and related industries.

[noodlenoodle]

Originally Posted by Airboy

You can say that about most cities. YEG was here long before the Oilsands and will be here long after.

Fur. Gold Rush. Oil/Oil Sands.

We've always been a boom town, built around facilitating resource acquisition.

[EdmTrekker]

These were his views about our city...and he was speaking to a "National" newspaper and I am sure his words, on reflection....were not the best he might have come up with. But in interviews you can not always control your messaging...that last sentence had nothing to do about diversification btw. He needs to (and I hope this does not piss his supporters off) pause and think...before he answers questions. I have met him and he thinks he can be "quick" in responding to questions as it shows he can communicate. The problem is his comments are not always well thought out. When talking to the media...pause...and think first...there is nothing wrong with reflecting on what you may be thinking before you open your mouth. People who learn this live longer in politics.

[CMD UW]

I believe we have hundreds of years worth of oil in the oilsands. Chances are we won't rely on oil before we've consumed it all.

[ciudad_del_norte]

Originally Posted by EdmTrekker

These were his views about our city...and he was speaking to a "National" newspaper and I am sure his words, on reflection....were not the best he might have come up with. But in interviews you can not always control your messaging...that last sentence had nothing to do about diversification btw. He needs to (and I hope this does not piss his supporters off) pause and think...before he answers questions. I have met him and he thinks he can be "quick" in responding to questions as it shows he can communicate. The problem is his comments are not always well thought out. When talking to the media...pause...and think first...there is nothing wrong with reflecting on what you may be thinking before you open your mouth. People who learn this live longer in politics.

What? That's exactly what it's about when I read it. I mean, I guess people can always phrase things more tactfully but Alberta as we know it currently would not exist without the oil sands. It wouldn't disappear off the face of the planet I guess, of that is what you are upset about, but look at what's happened to Edmonton in past slumps, we're only recovering now and while it may not all be directly funded by ft. Mac it underpins the economy enough to allow for many other things to happen.

The sooner Edmonton and Alberta in general own up to being dependant on the oil sands to keep things going the better IMO. It's obviously not all we are but it underpins enough of the economy. I guess maybe it could have been "..still some reason for Edmonton as we know it and would like to see it, to exist". Would that help?

[s211]

Perhaps a gentle reminder that Edmonton has to plan ahead so that it doesn't become a Detroit. An extreme example perhaps, and I don't mean offence, but certainly diversification as a strategy before the game as opposed to a response late in the game should always be at the forefront of any municipality.

[Makenosmallplans]

Originally Posted by s211

Perhaps a gentle reminder that Edmonton has to plan ahead so that it doesn't become a Detroit. An extreme example perhaps, and I don't mean offence, but certainly diversification as a strategy before the game as opposed to a response late in the game should always be at the forefront of any municipality.

That sounds right.

[Hallsy's Toupee]

Diversification is the key to shielding Edmonton from the fluctuations of oil & gas demand. Canada needs to know what else this place has to offer.

Industries that are here now (besides oil & gas) that can be expanded:
Agriculture
Forestry
Medical research
Gaming development (I wish Bioware could spawn an industry here)
Software/app development
IT
Biotech
Nanotechnology
Waste management

Did I forget any?

[bulliver]

Transportation/logistics (as in: Gateway to the North, Port Alberta)
Manufacturing (is everything we 'build' here oilsands related?)

[Xelebes]

Originally Posted by bulliver

Transportation/logistics (as in: Gateway to the North, Port Alberta)
Manufacturing (is everything we 'build' here oilsands related?)

I've worked in a hot tub factory (looks like have built a larger factory in the last ten years) and a window factory here.

[Daveography]

Originally Posted by CMD UW

I believe we have hundreds of years worth of oil in the oilsands. Chances are we won't rely on oil before we've consumed it all.

Not sure what your belief has to do with anything.

Regardless of that, no sane investor would put all their money into a single sector. If you have an investment advisor that suggests you pour everything into a one type of investment, I'd have a hard time believing you wouldn't fire them on the spot.

The city is no different nor should it be any different, even if only to ensure stability during price swings to say nothing of the fact that we really don't know how long we can actually continue to depend to singularly on the oilsands - and not even necessarily because of a shortage.

One need look no further than the province's heavy dependence on resource royalties for revenue and how well that works out for stable budgeting. It's utterly insane and not a model anyone should be following.

[Harrison]

Government and related services.

[Black Star]

^^ His belief is based on scientific fact

Based on known resources and the rate of consumption.

[CMD UW]

Originally Posted by Daveography

Not sure what your belief has to do with anything.

Regardless of that, no sane investor would put all their money into a single sector. If you have an investment advisor that suggests you pour everything into a one type of investment, I'd have a hard time believing you wouldn't fire them on the spot.

The city is no different nor should it be any different, even if only to ensure stability during price swings to say nothing of the fact that we really don't know how long we can actually continue to depend to singularly on the oilsands - and not even necessarily because of a shortage.

One need look no further than the province's heavy dependence on resource royalties for revenue and how well that works out for stable budgeting. It's utterly insane and not a model anyone should be following.

I believe there are around 170 years of reserves. I am willing to wager that in 170 years the world will not rely on oil as much as it does today. Ergo, my comment regarding that we won't 'use' up every last drop before we find ourselves having to diversify our economy.

http://www.energy.alberta.ca/OilSand...FactsJan14.pdf

[kcantor]

Originally Posted by Hallsy's Toupee

Diversification is the key to shielding Edmonton from the fluctuations of oil & gas demand. Canada needs to know what else this place has to offer.

Industries that are here now (besides oil & gas) that can be expanded:
Agriculture
Forestry
Medical research
Gaming development (I wish Bioware could spawn an industry here)
Software/app development
IT
Biotech
Nanotechnology
Waste management

Did I forget any?

education
arts and culture
insurance
banking
construction
engineering and design

[rapid_business]

Originally Posted by CMD UW

I believe there are around 170 years of reserves. I am willing to wager that in 170 years the world will not rely on oil as much as it does today. Ergo, my comment regarding that we won't 'use' up every last drop before we find ourselves having to diversify our economy.

http://www.energy.alberta.ca/OilSand...FactsJan14.pdf

Exactly. The stone age didn't end because we ran out of stone.

[lubicon]

Not sure where to put this as I didn't see a thread devoted to Edmonton business / economy so I'll throw it in here.

One of the gals I work with just got an email from her sister who works at Sobey's Western office in Edmonton. They have just been notified that the office will be consolidated with Safeway's office in Calgary and anyone who is interested in moving will need to re-apply for their job. I have not been able to independently verify this however. Her sister is not exactly thrilled.

Posted in the Calgary section too.