How did Albertas oil boom change Canada economically?
One thing is that the demand for Canadian oil internationally increased the value of the Canadian dollar. Because the Canadian dollar increased in value, the manufacturing sector, which traditionally exported the majority of what it manufactured (usually auto parts headed to the US) was hurt. This took economic power away from Ontario, Canada’s manufacturing hub and reinstated it in Calgary. Another factor to consider is the effect Alberta’s oil boom has had on economic migration patterns. Provinces like Nova Scotia with weak labour markets have seen many unskilled labourers move to Alberta, creating shortages in local labour markets. For example, in Nova Scotia there is a shortage of brick layers. Finally, the wealth of Albertans has increased, causing Canadian wealth to increase overall. Its worth remembering that Alberta adding a good deal to GDP now.
