Originally posted by checking
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It would have been to almost everyone's advantage to have taken more royalties especially during the boom, as even if it slowed down investment some, it would have helped control costs for services in the oil patch that got out of hand.
It would have also helped slow down the inflation that ran rampant through housing in the oil patch.
There is a surplus of $300-400,000 houses in the oil patch communities that no one can afford to buy or rent. It basically drove the cost of living up for all residents and especially for those who weren't getting the big wages in the oil patch.
We need jobs but at what price? Sustainable good jobs and reasonable levels of growth makes more sense in the long run. This boom and bust economy is not good in the long term.
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