US recession fears loom - what does that mean for Alberta?

The US and international media is full of dire news of an upcoming recession in the US.

A recession in the US has worldwide consequences, but would it cool off Alberta's red hot economy? Would less demand for oil and other natural resources put a crimp in our exports?

The Edmonton Sun thinks Alberta can weather a US recession:

[University of Alberta economist Mike Percy] said Alberta will fare better because there will always be a demand for oil - whether it's in the U.S. or in Asian markets.

"By and large, the demand for energy is pretty inelastic," Percy said.

[Paul McElhone, with the School of Retailing at the University of Alberta] said consumer confidence remains sky-high in Wild Rose Country.

"Everyone is so busy in Alberta, people just don't have a lot of time to head south."

Good news for now, but keep that resume buffed up and register with Officejobs.com if you live in Calgary, Toronto or anywhere else in Canada - we've got a ton of jobs waiting for good people.