Do you think PST is coming to Alberta soon ?

[tjthemanto]

The huge drop in oil prices is causing AB government lots of lost revenue in lost taxes.

I wouldn't be surprised if the gov. implements a PST to make up for this.

Oil has dropped before , but it was mostly due to recession .

The oil price drop this time around is different..its more sustained & prolonged. The price drop is actually due to an over supply & over abundance ..and also due to the Saudis wanting the oil at $ 40 to put the tar sands in AB and shale fracking oil producers in US out of business.

The cost of producing oil in Saudi Arabia is much much lower than that in Canada & US..so they don't mind $ 40 barrel of oil

[maggiespice]

At this point with the cost of a barrel being so low and because we are in such a oil glut, it is nice to go to the gas pumps and pay so much less to fill up.

Unfortunately, however, things can't be sustained with such low prices. Something will give, and in the end, it will end up biting us all.

[MortgageQueen]

[Ciel]

I noticed one baking ingredient is about 50 cents more than last month. What gives, if gas is cheaper? I'm sure we will be noticing more price hikes.

[Bubbelinchen]

i prefer pay double the amount in gas prices than seeing so many people layed off. what gives to save $100 a month in gas when people don't get jobs anymore. and it isn't just oil jobs, it is everything. there are towns that exist from workers, they live in motels and eat in those restaurants and shop in these towns.... if half of them get layed off you know what happens with those businesses... and it's not only that.... people will not spend much money anymore, stores are empty... too much staff and they lay off again. people laugh about the oil workers and say now the big paychecks are over .... but they don't see that it will affect WHOLE CANADA!

[thriftygranny]

I think they will implement the tax, I hope not but i think Alberta is in for a bumpy ride and unfortunately most people in the oil industry seem to live in the moment and spend like the money tree is never going to stop.Lots of people are carrying way too much debt tied up in lavish lifestlyes that they aren't going to be able to support. Remember the 80's?

[Ciel]

Was skimming through the Saturday Toronto Star at the library today and noticed an article about Calgary homes being put up for sale. There is concern younger workers will leave Calgary due to the uncertainty of the oil sands work/layoffs.

http://www.thestar.com/business/econ...il-prices.html