An excerpt from my column in Business in Calgary Magazine.
While I have my own thoughts on what 2023 could ultimately bring, regardless of a questionable start in the first month of the year with cryptocurrency investors wishing they hadn’t fallen for the ‘hype’, it’s always about the economics and what the experts are saying.
One of the first predictions I heard in my inquiry is that the Bank of Canada suggests that inflation is likely to rise even higher in the short term before things begin to ease. While there was no definition of what ‘short term’ means, there has been several interest rate increases since that statement with the latest increase occurring in late January 2023 with no guarantee we are at the end.
There is a noticeable rise in environmentalists looking for ways to end our fossil fuel industry as quickly as possible, along with a suggestion of money for a ‘just transition’ for oilfield workers. That suggestion hasn’t gone over well.