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Monday, November 11, 2019

Good Times Don't Last Long Under Capitalism.

 There was a time when Fort McMurray, Alberta was a boom town. With 165.4 billion barrels the oilsands were the third largest in the world, behind those of Venezuela and Saudi Arabia.

 With oil prices climbing from 2004 to 2014, the industry invested $210.1 billion, and in over those ten years output more than doubled to 2.2 billion barrels a day. 

Thanks to big paycheques and plenty of overtime, workers bought customized pickups and million dollar homes. 

Now Fort Mac is the insolvency capital of Canada due to the drop in oil prices. Eight thousand people a month come to Wood Buffalo Food Bank for jars of peanut butter and cans of soup. These are folks who were living high before the bust. The bank’s director Dan Edwards said, ''Individuals that have degrees and education and skills come here, because the jobs aren't what they were.'' The enormity of it is the population of Fort Mac is only 75,000. 

Good times don't last long under capitalism; how about a society where they do.

Canadian comrade.

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