Globe & Mail Chastises Cons For Oil Reliance

Angstrom

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May 8, 2011
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There is no future in manufacturing because China has totally taken it over, and now, no future in oil. We are in for a rough next 20 years.
 
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eh1eh

Blah Blah Blah
Aug 31, 2006
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Under a Lone Palm


I must argue with the headline. The Cons chose to ignore and turn their backs on manufacturing.....


Canada forgot to plan for its future by leaning on oil and the loonie

Off the backs of those industries, Canada’s gross domestic product (GDP) grew by 19 per cent between 2010 and 2014. But most of that growth was driven by factors outside Canada’s control. China’s economy was booming and, with it, its insatiable need for resources. Oil prices were fixed artificially high by the OPEC, Iranian petroleum supply was cut owing to sanctions, millionaires from precarious economies, including China’s, increasingly sheltered their wealth in havens such as Canadian housing, and “fracking” technology unlocked new petroleum resources in Western Canada.

Many remain optimistic that petroleum prices will recover, but there is strong reason to believe low prices are here to stay. Unlike previous price vacillations that were created by shocks in supply or demand, the price-setting regime of oil has changed. In the past, prices were set monopolistically by OPEC; they’re now set competitively. Low-cost producers, such as Saudi Arabia, used to intentionally lower output to create artificial shortages that boosted prices. With such high prices, more expensive resources such as oil sands and shale oil became viable. Realizing that high prices would eventually lead to OPEC’s demise, the cartel stopped price fixing. The world is now sitting on massive inventories of oil that will take years to consume. On top of that, Iranian oil sanctions are being lifted, adding to cheap supply. Barring some geopolitical catastrophe, the new prices are here to stay.

Canada forgot to plan for its future by leaning on oil and the loonie - The Globe and Mail


Well you know they have to say something as 'Old Stock Publications' are becoming more irrelevant with each arrogant brain dead article.
 

damngrumpy

Executive Branch Member
Mar 16, 2005
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kelowna bc
When I was a kid oil was six dollars a barrel and it was stable.
Now its a measure of sixty dollar just to get it out of the ground
The real problem is open trade. had we developed our own
oil fields as government for our own use things might be
different now Alberta has to diversify their economy instead they
tear at their hair blame others and whine its time to make a new
path. To be clear many Albertan s do understand and they are not
whining but too many are at the moment
 

captain morgan

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Mar 28, 2009
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nooooope. AB will soon have a surge in agribiz thwnks to TPP and volume of oil sales are only climbing. Steady as she goes.

The futures contracts are already showing $40 oil for this year.

When I was a kid oil was six dollars a barrel and it was stable.
Now its a measure of sixty dollar just to get it out of the ground
The real problem is open trade. had we developed our own
oil fields as government for our own use things might be
different now Alberta has to diversify their economy instead they
tear at their hair blame others and whine its time to make a new
path. To be clear many Albertan s do understand and they are not
whining but too many are at the moment

When I was a kid, you used to be able to get a big bag of fresh peaches, apples and cherries for $2.00... Now because of the intense greed of the BC fruit farmers, that same bag costs about $60 dollars.

I blame NAFTA
 

captain morgan

Hall of Fame Member
Mar 28, 2009
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A Mouse Once Bit My Sister
Nonsense. It's all Trudeaubama's fault.

Here in Canada, we get the double benefit of not only being able to blame Trudeau junior, but his old man as well.... It provides a wonderful opportunity to obscure the issue (or non-issue as the case may be) even further.

... But, as you state, it is only fair to include BHO on the NAFTA fiasco ~ after all, those damn Kenyan Muslims are behind most conspiracies
 

Bar Sinister

Executive Branch Member
Jan 17, 2010
8,252
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Edmonton
Flossy, which brand of import do you drive?

I've got a better question. Can you name a car sold in Canada that is not technically an import? That is to say, an automobile manufacturer whose HQ is actually based in Canada.

How does BC survive without manufacturing. About the only thing manufactured in BC is toiletpaper.

Manufacturing in BC - Canadian Manufacturers & Exporters

Manufacturing is a significant contributor to BC’s economy. Manufacturing is BC’s third largest source of employment, directly providing about 180,000 jobs and indirectly supporting hundreds of thousands of indirect jobs. For every $1 dollar generated by a manufacturer another $3.50 in economic activity results in local BC communities.
More than 30% of all business taxes flowing to government come from manufacturing.
In 2012, the sector was the fourth largest contributor to provincial GDP at 7.2%. Contrary to popular belief, manufacturing is the primary source of exports from BC, NOT natural resources, comprising almost 65% of shipments.