With the exception of one small company listed on the second-tier market, none of the 32 listed companies on the firsttier of the stock exchange are in the energy sector. In addition, of the $ billion of (private) securities floated on the domestic capital market in the last decade, none were for local energy sector companies.
In these circumstances, is it any wonder that the benefits of low inflation have been slow to materialize, and the recovery from the recession of the early 1990s has been more gradual than expected? There is no getting around the short-run costs to Canadians of these difficult, yet absolutely necessary, structural adjustments.