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COVID-19 oil price drops and beef industry issues show Alberta needs to diversify: Expert

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globalnews.ca

Alberta — long known as Canada’s central hub for both beef and oil —  has seen both those industries slammed with economic troubles since the COVID-19 crisis began.

On April 20, U.S. oil futures prices fell into negative territory for the first time in history, because storage tanks are nearly full and refineries are reducing output amid slow economic activity during the COVID-19 pandemic.

And on the same day, Cargill Inc.’s High River, Alta., meat-packing plant announced it would be temporarily shuttering operations, after a worker died from the coronavirus and hundreds of other employees tested positive.

Later in the week, the JBS meat plant in Brooks, Alta. also announced it would be reducing production due to an outbreak. Together,

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