’Twas the night before Christmas and all through the land the energy sector caused wringing of hands.
Alberta is worried, since oil is low, it’s hitting the government’s fiscal cash flow!
The year coming up may bring some surprise as energy prices might not promptly rise.
Dollars are scarce for the province this year. The premier is warning of cuts many fear.
All is not lost, though, since farming is strong. Forestry, too, is coming along.
Albertans still see a job market healthy. It’s making a lot of folks really quite wealthy.
But if we might need a gentle remind-a, our new bestest friends just might be from China.
For they’ve got the cash, and plenty of plans to invest in our northern Alberta oilsands.
As Ottawa juggles its own bunch of trouble it worries that housing is still in a bubble.
A deficit lingers in Harper’s own budget a shortage of taxes is making him fidget.
We’re losing Mark Carney to Britain next year. He’s leaving when mortgages aren’t yet too dear.
So 2013 will soon be upon us. And plenty of work must now be accomplished!
On Redford, on Horner, on Smith and Ken Hughes. On Harper, on Carney and Jim Flaherty’s new shoes.
This coming year will be full of much worry. But we’ll manage fine through it all – most surely.
A red-hot economy may seem like some fun but labour is scarce and it’s costing a ton.
And even if growth rates come down just a bit, some moderation is certainly fit.
So from this kind economist, it’s only fair to wish you a happy and healthy New Year!
Todd Hirsch is the senior economist with ATB Financial.
