JonnyCanuck
Senior Member
By recent market activity and most forecasts, the price of oil and natural gas is headed in an upward trajectory. Whether we see the price levels of 7-8 years ago is anyone's guess. One thing is for sure, the pull back of investment in fossil fuel expansion is going to limit supply in Canada, and global demand for oil and gas is not expected to diminish until 2030-35, and then only gradually. Many experts are saying this lack of investment will also hurt U.S shale oil and gas expansion so we may not be faced with that competition as we have been for the last several years.
Unless we see an energy crisis (some are predicting this), it is unlikely we will see any new mega projects. The process for these takes 3-5 years or more to come on line, after all of the approvals are obtained. It was projects like these that fueled job growth in Calgary and demand for office space. We are likely to see increasing demand for Canadian oil & gas and supply will have to come from existing sources. Fortunately, our pipeline woes will be solved somewhat by the expansions of Line 3 and the TMX. The future looks very bright for Alberta from a growth standpoint. However, without those lost jobs coming back in Calgary and new office towers going up, it may not feel like a 'economic boom'.![Thinking face :thinking: 🤔](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f914.png)
Unless we see an energy crisis (some are predicting this), it is unlikely we will see any new mega projects. The process for these takes 3-5 years or more to come on line, after all of the approvals are obtained. It was projects like these that fueled job growth in Calgary and demand for office space. We are likely to see increasing demand for Canadian oil & gas and supply will have to come from existing sources. Fortunately, our pipeline woes will be solved somewhat by the expansions of Line 3 and the TMX. The future looks very bright for Alberta from a growth standpoint. However, without those lost jobs coming back in Calgary and new office towers going up, it may not feel like a 'economic boom'.
![Thinking face :thinking: 🤔](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f914.png)