So says a recent article in the National Post. Many points are worthwhile to read; fact is, Canada will benefit greatly from expensive oil. Furthermore, we have oil, and we are a stable country. Woot. Two points though in my opinion that are definite cons.
1) The literal destruction of land–environmental disasters in the making. (Has anybody flown over Grand Prarie lately? If Google Earth updated more frequently you’d poop your pants after seeing the destruction…..and you do’nt even have to drink the lake water downstream.)
2) Increase dollar value on oil will hurt other businesses….. in a sense, Canadians will go the way they did when the dollar was really low–they’d artificially compete. What I mean is that high oil price will make innovation less of a priority. Then when oil disappears, we a) don’t diversify quick enough (really a third point), b) can’t compete with global firms who are more efficient.