Effects of Alberta’s oilpatch slowdown

In a meeting in Calgary recently, Atlantic Provinces Premiers told the slowdown in the oilpatch is having effect all across Canada. Many Fort McMurray workers used to commute from there to their hometown on a regular basis, therefore bringing their fat paycheck, often in the six figures, in this province.

The slowdown is having a lot of workers laid off, and the flow of money is drying up. The effect is particularly hard of Newfoundland and New Brunswick where the tax revenue from the workers in Alberta’s oilpatch is going south. Fort McMurray used to be known as the newer New Brunswick capital!

Atlantic Premiers hope to benefit from Alberta’s skilled worker to develop their own energy sector, because as they said Alberta will continue to lead Canada’s economy in the future, and will be the first province to benefit from the rebound once it comes around.