Not So Profitable Oil Sands For Canadians

Both the Federal and Provincial governments off and on talk about the Oil Sand projects in Alberta and insist that it is a great opportunity for Albertans and rest of the country. Not so true! Most of the manufacturers, or better to say the manufacturers of the major equipment of the projects are outside the Continent! Just a few not-so-critical machines are made here in North America. Majority of them only import and assemble. The manufacturers in Asia and Europe gain the most benefit from the projects. As per employment, yes it keeps unemployment rates down but at the same time attracts a large number of not-so-competent poor and hungry professional-like individuals from across the world and the country of course. It is mainly because it is not a high-tech industry. At least not for what is required to be done by them! This people come with their colour dreams of luxury cars and mansions with swimming pool and Tennis court! There is a few industries that now you can say that benefits from this: banks, retailers, insurance companies and such. Their real pleasure is the time that this industry falls off its throne! Just like 2008. That is the time when there will be lots of foreclosures and huge amounts of debt that people have to pay them off. But even thinking that the unemployment rate is kept low, I think, is wrong because everyone who has a job tells his friends or relatives about this mirage-like jobs and truck loads of sorry asses pour in to the country! I personally know a couple who are university graduates and work their asses off to pay their bills. They look like they are optimist but how long you can keep your hopes up with empty pockets!
(Photo: Huge trucks carry Oil Sand to the crushers in Northern Alberta)