Roger Geisinger, AMBA Executive Director

What an unprecedented time the world has just gone through! After close to 18 months of battling COVID-19, Canada is starting to see a light at the end of the tunnel. On July 1st, Alberta removed the majority of the health restrictions. However, the dark cloud of variants still lurks. The key weapon in the battle is vaccination and thankfully Alberta's vaccination numbers improve daily. Alberta still very much relies on the energy sector. With oil prices breaking $75/barrel there is new optimism in the oilpatch. As the various energy companies return to profitability we will see dollars reinvested, creating jobs and economic growth. At the same time natural gas pricing has recovered. Supply is at low levels and demand has been growing. The hydrogen sector is heating up and attracting both government and private sector investment. Combined they will be a significant economic driver for Alberta. The demand for construction services should start to see some tangible increases.

As important as energy is to Alberta, we are seeing growth in several other sectors as well. Agricultural and the various related industries are also experiencing growth. As the COVID battle continues to lessen, there will be a massive surge in the travel and hospitality sectors. Technology and financial services sectors have high growth rates.

While it is a bit too early to forecast boom times in Alberta, it is safe to say "better times" are on the way. Companies that have survived the tough times and have the staff and good management will have the best chance to take advantage of the opportunities ahead! Hope you are all ready!