Tuesday, December 09, 2008
Huge Surplus Great News, but Includes Big Message - More Economic Diversity Needed
As was expected for this current year there is a huge surplus, $1.27 billion. That's because for most of the year, the price of oil was grossly high. While it hurt individuals, it was great for the province. Next year could be very different. The price of oil is near $40/barrel - bad for province because oil prices can ride the roller coaster in any year, and even finance minister Kennedy said that we could be looking at up to a $600 million deficit. Consumers are getting a well deserved break, and surely do not wish to again pump their cash into pumps so that this province can be enjoying huge surpluses. The province should promote more economic diversification - that's a message that's old, but still true.