Premier Jim Prentice warns of consequences of low oil in State of the Province Address | WHAT REALLY HAPPENED

Premier Jim Prentice warns of consequences of low oil in State of the Province Address

In a nearly 45 minute speech in front of 700 people, Premier Jim Prentice gave his first State of the Province Address Tuesday.

Prentice began his speech at the Edmonton Chamber of Commerce luncheon by acknowledging the fact oil has hit record lows lately, sitting around $63 a barrel Tuesday compared to just months ago when it was going for $100 a barrel.

“The economic viability, the sustainability, the strength of our energy industry in this province is not in question,” Prentice told the room.

“This is a price trough. This is a price trough, to be clear, of uncertain duration. Longer, I think, than many people realize,” he added.

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