| Economic recovery key for 2010 |
 |
 |
 |
| Local Content - Editorial |
| Written by production |
| Thursday, 07 January 2010 21:09 |
|
As Christmas is over, we should all take pause and reflect on the year that was and what lies ahead in 2010. This year was certainly one of ups and downs, though the history books will likely say the downs outnumbered the ups. Coming off the boom of 2008, when oil and gas prices were and commodity prices for agriculture were strong across the board, this year has been a downer on many fronts. The economic crisis laid waste to investment portfolios across the globe and turned governments into purveyors of corporate and big-business support. In North America, government poured billions of taxpayers dollars into banks and the auto industry, money which likely will never be seen again. On a provincial level, Alberta took a massive hit. Oil prices sunk from highs of $140 a barrel in 2008 to settle at just below $70 for much of 2009. Natural gas prices, more importantly for Alberta’s coffers, also sank to new lows, which has put a huge crimp on our province’s finances. Then, of course, there was the tumultuous year for our agriculture sector. Poor weather, especially for local sugar beet farmers, made this one of the most challenging harvest seasons in recent memory. As a result, a chunk of the 2009 crop had to remain in the fields, unharvested due to early snowfall and a late harvest in general. So what does all this mean as we head into a new decade? For Alberta, it may mean a decade of fiscal responsibility, where costs are better controlled and government spending is more closely monitored. Certainly, next year will be key for Alberta, as the province continues to deal with a growing deficit and an economy predicted to stay stagnant at worst, and grow very slightly at best. It is the hope 2010 will be the start of good things to come, as the world rebounds from a global recession and picks up the pieces. In the end, a year a little less dramatic than 2009 might just be what the doctor ordered. |