Re: Eggs in one basket
erierunner
6/30/2011 10:19:20 PM
With that, we absolutely agree!
Re: Eggs in one basket
back2basicz
6/30/2011 10:17:36 PM
Erie,
Forgive me for not being more accurate/elaborate with what I was planning to say.
States should focus on one thing and do it very well.But have a Backup plan just in case things don't work out the way you were hoping they would.
Regards
Ashish.
Re: Eggs in one basket
erierunner
6/30/2011 10:14:12 PM
We'll agree to disagree on diversification. I just think there are too many examples of cities collapsing after their one industry goes bad. I grew up in Pittsburgh and watched it take two decades to recover from the steel industry collapse. We also see it now with occupations. People that have only known one trade are struggling to find jobs now that they are unemployed because they never prepared.
Do you think a similar thing can and will happen in Athabasca(the Oil sands)?
back2basicz
6/30/2011 10:10:51 PM
Noreen,
Reading through your entire post again and again;One thought really struck me.How is it that The resource extraction industy can be so bad at protecting/taking care of the environment it too is a part of .
Do you think that Athabasca's oil sands(they have similar run-off ponds for Waste Oils,etc there);will also be affected(&fined repeatedly like in America)???
Or are the Regulators in Canada much more stringent than in America?
I also remember that the Native tribes downstream from the Oil sands in canada started falling sick to all manner of cancers because of the exploration in that area.
Do you forsee a similar sceanario in North Dakota?
The Weather can change in a jiffy anywhere,everywhere.
Regards
Ashish.
Re: Eggs in one basket
back2basicz
6/30/2011 10:03:53 PM
Erie,
North Dakota is actually a success story.By keeping regulation to a minimum[Only where its absolutely essential]& letting Private sector do its thing;it has become such a massive success story.
I firmly believe that all this talk of Diversification is over-rated.Most people can't focus on more than one Occupation at a time.In the same way,I believe that most States should focus on one major Employment Generating activity and do it well.Do it very,very well.North Dakota actually had this figured out to the T.
Its just that it was hit by an unfortunate turn of events this year.
Weather has always been known to be unpredictable so nothing new here.Its just that the State and especially regulators could have been better prepared for this calamity(especially the meltponds which are filled with waste).
Do you think a similar thing can and will happen in Athabasca(the Oil sands)?
Regards
Ashish.
Re: Geographically challenged
erierunner
6/30/2011 4:03:29 PM
How many levees need to break and how many homes need to be lost before the American homeowner learns the lesson of either A. Buy flood insurance no matter what anyone tells you, or B. Move. If I am buying the largest asset in my lifetime in an area that could be devestated by a broken levee, I am going to make sure I am insured and if I can't afford the insurance, I'm looking for a house on the hill.
Eggs in one basket
erierunner
6/30/2011 3:58:39 PM
We see it all the time. One city, one town, one state, places all of their eggs in one basket, live the good life, and don't prepare for when things go bad. It then takes years, sometimes decades to recover. We saw it with the rust belt with the auto industry, we saw it with southern states and farming, and we see it hear with North Dakota and oil. It's all well and good to have the lowest unemployment and an industry gushing cash but nothing lasts forever. Have they used those funds to build the infrastructure in their cities to bring in technology, green science, healthcare, etc.? Probably not. And now that they are wearing waders, they are finding themselves in an undesirable position. You would think that big government would learn from past mistakes.
We can and should debate the actions of the companies capitalizing on the oil in North Dakota. But those conversations can come later. For now, while 10,000 people are homeless, we should be asking ourselves less about investing in companies and focus on investing in people. What a terrible tragedy for this city, stuck by nature in an unfortunate location.
Support?
driven
6/30/2011 10:59:24 AM
What is being done to help the people in Minot and surrounding places? I hate to think its depending on FEMA. But this is devastating for many people, and too big to ignore (even if Obama does).
Re: Geographically challenged
AskAsa
6/30/2011 10:40:50 AM
That's a heartbreaking image of a disaster that's threatening to destroy a small town. I agree. It's a mess.
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