Posted on 26th February 2015 by T4C in Economy |Politics |Social Issues |Technology
JC lives in Canada and his life has been centered around mining. He knows of that which he speaks.
(….and how Greece could crash the world.)
FEBRUARY 25, 2015
by JC Collins
After the collapse of oil prices and home valuations in 1986 the oil sands mining town of Fort McMurray became a semi-desolate place of reduced expectations. One of the two mining operations went on strike and I remember the workers picketing on the highway near the site access.
As a teenager my friends and I would drive around an area we called The Dead Roads. The Dead Roads were a planned subdivision which had been under development when the collapse of 1986 happened. The roads had been built, the sidewalks and curbs set, and the utility services to the lots had been roughed in. But no houses had been built.
The price of oil had crashed from $32 a barrel to $10 a barrel in only a 4 month period. Many people lost their jobs with many of those leaving Fort McMurray and moving back to whatever place in Canada they had come from.
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