I've been hearing the same boring hog wash since I was still in school in the 80's. Like the one about "peak oil". Remember that nonsense? No, I guess not, which might account for your comment.

The reality is that oil producing regions are commodity price takers, not price makers and the price is set in the world market, not Canada, the US or any place else. The price goes up and it goes down, but when it goes down, the Alberta industry re-tools and becomes stronger. That's a fact.

And just like mines in Ontario, Quebec and BC led to the foundation of financial centers in Toronto, Montreal and Van, and services providers and technologies to develop those mines, the same new job creating technologies evolve in the oil producing provinces. 

Technologies are growing in Western Canada thanks to oil and gas, and Calgary is on the map as a significant head office town, thanks to oil and gas.