https://padlet.com/christopher_ledward/qh3suqzao8s7 A Canadian Story en-us 2017-03-16 19:48:22 UTC 2023-06-10 02:30:41 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Terminator.png christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/163742196 How this oil catastrophe is affecting Canada's economy. ]]> 2017-03-30 15:32:07 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/163742196 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/163743807 We chose this video because as patriotic Canadians, we are proud of our nations natural majesty. The true cost of oil is that it is gained through the exploitation of other natural resources, which Canada should be striving to protect rather than throwing it away for a resource that is not sustainable. We shouldn't sell tomorrow to fund today. The video shows the numerous wetlands and wildlife that these oil sands threaten and shows how they are used currently to protect some of the nations most endangered species, furthermore, the land brings in tourism which is not nearly as profitable as oil, but is far more consciously sound. We found it interesting that the wetlands are our biggest defense against global warming, and yet they are being targeted by the mass expansion of the oil conglomerate.]]> 2017-03-30 15:37:16 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/163743807 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164493479 We chose the links below because in order to obtain information about Alberta's economy, we thought it was best to visit the provinces website to see what they are most proud of. This site shows Alberta's dependency on oil to sustain its economy, as stated "Energy development is the largest contributor to the province's GDP, capital investments and exports.". and with a GDP of 294.7 billion in 2015. If the oil runs out or becomes uneconomic to produce, then Alberta, and all of Canada will suffer. We found it surprising that the site made no reference to the provinces glaring unemployment epidemic.

http://www.albertacanada.com/business/industries/og-about-the-industry.aspx]]> 2017-04-03 23:15:51 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164493479 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164493897 We chose this picture because it clearly shows how our oil production directly influences our employment and foreign relations.This infographic shows the correlation between the price of crude oil (bottom graph) in relation to the American dollar (middle graph) and the Canadian employment change (top graph).
This also shows how dependent Canada's economy and employment rates are dependent on a non-sustainable resource like oil. We found it very interesting that there was a huge plummet in employment at the same time as a lull in oil prices. ]]> 2017-04-03 23:22:32 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164493897 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164494783 We chose this photo to show the sheer size of these plants. This photo shows the Suncor processing plant. The size of these monolithic refineries looks like a set taken from a Mad Max style dystopia, and its effects on the environment can readily be seen.he land to the upper left corner of the picture can be seen as devoid of all natural resources. We found it interesting that even though these plants are so bad for the ecosystem, they are praised by the local population.  ]]> 2017-04-03 23:34:39 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164494783 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164495954 We chose this photo to show the difference the dropping cost of oil has on civilians vs oil companies. As of 2015 Statistics Canada shows how the average price of gas has failed to fall with the drop in oil value. This difference can be justified by the oil companies. However, it is likely that they are artificially inflating the cost of gas to increase profits.  We found it interesting that such a blatant inflation in recent years, is left unchecked by our governments. ]]> 2017-04-03 23:49:39 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164495954 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164496509 We chose this link as it goes into detail about the economic ramifications about the oil recession. With Alberta's economy so tightly attached to the value of oil, it was easy to examine its impact on citizens as the value dropped. "more business for moving trucks and repo crews, even a noticeable uptick in suicides". The Albertans were not prepared for such a rapid decline in their economy. But it is important that other provinces and countries learn from these mistakes and stop placing stock in substances as volatile as oil. We found it interesting that even as many people are loosing their jobs there will always be entrepreneurs, as many companies involving repo and foreclosure have emerged.

http://www.macleans.ca/economy/economicanalysis/life-at-20-dollar-oil-nation-divided/

]]> 2017-04-03 23:56:13 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164496509 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164497662 We chose this link as it went into details about the economic change as a result of the drop in oil price. In the span of only six months in 2014, the price of crude oil dropped 55%. This has greatly damaged our economy to the point where a cut in interest rates was implemented. With the drop in oil price, there was also a downturn in Alberta's housing market as well as household debt. To combat this plummet, an interest cut of 0.25% (the first cut in over 4 years at the time) was introduced to the 1% interest at the time. We found it quite incredible that consumer debt increased in the wake of an economic crisis. ]]> 2017-04-04 00:11:20 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164497662 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164498867 We chose this video because it shows the personal effects of the oil crisis in Alberta.This video shows the personal effects of the economies recession. A man trying to provide for his family, but is currently unemployed due to the mass lay-offs from large oil companies trying to salvage profits. 
The video also offers a glimpse into the life of a food bank worker, who's job is secure, but unfortunately she has to face the reality of many of these families loosing their way of life. We found it interesting that it took so long for Albertans to seek government support for basic necessities.]]> 2017-04-04 00:25:06 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164498867 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164499807 We chose this video to highlight the severity of the economic situation in Alberta on its inhabitants. From 2014-2016 the gas oil prices fell 60%, causing 40,000 jobs lost, and as a result of this the suicide rate in Alberta climbed 30%. "People just can't handle the stress" is a justified concern as families are having homes foreclosed across the province, and people are losing their way of life. 
 It is expected that a further 185,000 people are set to lose their jobs by the end of 2016, and if the suicide rate follows this trend then the future of this proud, profitable province is uncertain. We found it interesting that the government hasn't taken more drastic action to prevent this loss of life. 

]]> 2017-04-04 00:36:04 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164499807 christopher_ledward https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164505459 These are the answers to the retrospective questions asked of us.]]> 2017-04-04 01:36:00 UTC https://padlet.com/christopher_ledward/qh3suqzao8s7/wish/164505459