In the wake of the “energy settlement” of August 1981 when Trudeau and Lougheed toasted champagne, economists at Alberta Treasury’s Budget Planning and Economics group were refreshing their economic forecasts. In the Economic Outlook reproduced below, attention focused on the anticipated mega-projects expected to drive Alberta’s economy in the medium term. The Outlook reinforces the … Continue reading The Perils of Economic Forecasting in a Commodity-based Economy