As we take the first tentative steps to reopen our economy in a COVID-19 world, it is critical that Calgary also progresses along our longer-term road to recovery.
The public health crisis that has created distress and hardship worldwide may be uncharted territory, but the broader challenges of a structural change to the economy is something Calgarians were addressing even before the pandemic.
We are well aware of the harsh realities of a “new normal.”
COVID-19 is not our only crisis. The unprecedented collapse in oil prices in an oversupplied, and highly politicized, global market is devastating to an already battered energy sector that is at the core of our economy.
The extraordinary speed at which these twin crises emerged, with devastating consequences, reinforces that we must also respond in real time. Overcoming challenges that we have not experienced since The Great Depression requires a comprehensive strategy to accelerate our recovery.