Boom Time in Alberta - Insider Media Group, Canada
As Peter Lougheed, a former premier of Alberta stated in a recent Canadian Business article “People come to the province, find a good job, but live in a tent.” It appears that there are not even enough tents to go around. Homelessness has grown considerably throughout the province. Having affected 447 in a 1992 count, 3,436 people were tallied up as homeless last spring.
Rising labour costs are making government dollars less effective. Money spent on transportation and infrastructure is unable to keep up with citizen’s use on current facilities and requirements for new roads. Even medically, the province is unable to keep up, as a current shortage of 1,088 physicians is expected to increase to 1,541 in 2010.
In perhaps the most ironic aspect of this situation, the oil that caused Alberta’s economic boom is now hurting the oil companies itself. Shell Canada recently announced to unhappy investors that the company’s activities in Alberta would cost 12.8 billion dollars as apposed to the 7.3 billion dollars originally estimated due to rising labour costs.