Oil price drop means lost billions for Canada
- Thread starter mentalfloss
- Start date
I don't disagree with what you have posted. The price of a bbl has dropped in an engineered fashion and it is due to OPEC deciding not to control supply. At present, the Saudis (UAE and Kuwait) are actually losing money when you compare the revenues against the reserves being sold.
Factor-in the opportunity to starve-out more expensive NorAm production and they will be impacting the production rates for a long time to come.
PS - I don't believe for a minute the stats put out by the US gvt regarding their daily production vaulting them to the largest producer in the world - the US has not had the time or capital to build the infrastructure to achieve this goal in this short a period.
The point being; geopolitics is playing a far stronger role in this than anything else
Good luck on that
The oil companies are not going away and their tax payments will not go to zero.
Surely we can go $20/bbl lower as we must punish Russia. After all why should her economy be doing better than the rest of the EU and NA when she is the one under sanctions? Inquiring minds want to know.
Even that would be a raise from what they are paying now, they get a lot of coins from the public coffers that never make it anyplaca but into the shareholders pockets.
If you guys haven't been hacked why do you not get links like this?
U.S. Government Telling Lies To Push The War Agenda - Episode 554 |
Activist Post: Russia's SWIFT Settlement Alternative
www.youtube.com/watch?feature=player_embedded&v=aYX4WeqQfRo
Fell free to go and put a foil hat on him (or me)
U.S. Government Telling Lies To Push The War Agenda - Episode 554 |
Activist Post: Russia's SWIFT Settlement Alternative
www.youtube.com/watch?feature=player_embedded&v=aYX4WeqQfRo
Fell free to go and put a foil hat on him (or me)
Canadian consumers are ending 2014 on a grumpy note
The Bloomberg Nanos Canadian Confidence Index fell to 55.1 in the final reading of the year. That’s the lowest since May 2013, as expectations for the economy tumble amid a plunge in the price of crude oil, the nation’s largest export, and with the currency at the weakest in more than five years. Views on housing have also dropped in the weekly sentiment gauge.
Why it’s time for investors to move out of Canada — and stay out
The recent weakness in both energy stocks and the broader market serves as yet another reminder that Canadians simply allocate too much of their attention and portfolios to domestic stocks. Keep reading.
“As we close out 2014, the forward view on the economy from a consumer standpoint is trending negatively,” said Nik Nanos, Ottawa-based chairman of Nanos Research Group. “Roll up a drop in the price of oil, a lower Canadian dollar and softening view on the value of real estate, and an environment is emerging which could lead to a tumultuous 2015.”
The 49 per cent drop since June in crude prices has prompted companies to scale back investment in a country sitting on the world’s third-largest pool of reserves, and governments to trim their outlook for revenue, providing another drag on an economy the Bank of Canada says is still two years away from a full recovery. The Canadian dollar is down 8.7 per cent this year versus the U.S. dollar amid the oil rout.
Canadian consumers are ending 2014 on a grumpy note | Financial Post
The Bloomberg Nanos Canadian Confidence Index fell to 55.1 in the final reading of the year. That’s the lowest since May 2013, as expectations for the economy tumble amid a plunge in the price of crude oil, the nation’s largest export, and with the currency at the weakest in more than five years. Views on housing have also dropped in the weekly sentiment gauge.
Why it’s time for investors to move out of Canada — and stay out
The recent weakness in both energy stocks and the broader market serves as yet another reminder that Canadians simply allocate too much of their attention and portfolios to domestic stocks. Keep reading.
“As we close out 2014, the forward view on the economy from a consumer standpoint is trending negatively,” said Nik Nanos, Ottawa-based chairman of Nanos Research Group. “Roll up a drop in the price of oil, a lower Canadian dollar and softening view on the value of real estate, and an environment is emerging which could lead to a tumultuous 2015.”
The 49 per cent drop since June in crude prices has prompted companies to scale back investment in a country sitting on the world’s third-largest pool of reserves, and governments to trim their outlook for revenue, providing another drag on an economy the Bank of Canada says is still two years away from a full recovery. The Canadian dollar is down 8.7 per cent this year versus the U.S. dollar amid the oil rout.
Canadian consumers are ending 2014 on a grumpy note | Financial Post
Depends on how accurate this bit is as being a summation of the issue. I see it as an Russian in-house credit card that is not Vis or Master-card yet can do international purchases in real-time. Then VISA can never be a lever in a dispute that may or may not have justification but it can certainly tell VISA what direction to take. Russia just closed the door for good, I'm assuming at this point that BRIC is also part of the overall deal as that is an alternative for Russia and China and most of South America for financial transactions that sees the US not make any money on the transactions through 'service fees'. There will still be service fees to pay to the World Banks as you can't do big projects without it fitting in with their desires. If most of the business doesn't involve the EU and NA then they are free to create business between themselves without facing sanctions. Do you see what I'm getting at here? The Royals had to make room for Business Men some 100's of years ago, that doesn't mean that step that was not willingly given up is the last one that would ever be taken in that direction. The US isn't the only sandbox on the globe, the only ones that are naive of that knowledge is NA.
Link please. Do you see any glaring holes in this timeline for the US (and what they do we are sure to follow) Say from 1970 and up, the 'patch' always got lots of breaks on what would be their gross costs, it doesn't matter if it never made it onto a tax sheet ot it was a deduction if it did it was free money for them and it came out of public funds not connected to the tax at the pumps. There should be something that covers Canada as R&D was and is still a big expenditure that creates many spinoff companies, the service sector is pretty flat once the product is marketable.
A Brief History of Big Tax Breaks for Oil Companies | Mother Jones
Let's make 'banks' the one that get $30B a year from Canada in usury payments that is equal to extortion in any part of the world. That payment never comes up in a referendum, I know why, do you?
Walter, this is how I let you know what I think of your posts, you should expand on both of them.
http://news.nationalpost.com/2013/1...-companies-more-than-400-million-to-go-green/
http://www.pembina.org/media-release/1242
The banking one would be considerably longer, suffice it to say they have existed longer that the US or Canada and will likely exist long this century is over.
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SWIFT is no more than a secure system to transfer capital... At worst, Putin could amass a cargo plane of USD and (try to) fly it to a foreign nation, deposit it (or not) and transact that way.
That system has been around for ages and works among numerous participating banks in the system, it's not an exclusive US entity... Further, the Russian banks could set up relationships with banks anywhere else in the world and work that way to.
But back to the point, you need a sender and a receiver of the funds and there is nothing that prevents a recipient bank from refusing the receipt of the funds... That is what I'm getting at here.... Just because the Russians set up their own version of SWIFT does not translate into them being able to side step sanctions IF the receiving bank agrees with their gvt not to do business with the Russian entity
Some of that depends on perspective. I see a substantial drop in real estate as being good for the economy. Except for banksters that have made huge equity loans on over priced houses.
A low dollar is good for exporters but not so good for things we import. Could enhance manufacturing in Canada. Always be wary of what the vested interests are saying.
Oil prices are falling and the government is in trouble due to lost revenue.
Translation, we the government are guilty of poor planning because we put
all our eggs in one basket. In 2008 we saved you from nothing we were in a
position to make promises based on thin air because the economic cycle we
were in was a positive one. Now its election time and we're out of rabbits
to pull out of the hat. We tore a few holes in the social infrastructure that
means the poor and the elderly won't be as pleased and the list goes on,
I think the dissatisfaction level with this government may be on the rise.
I know one thing I will not be voting Conservative or Green so I have one of
two choices. No I have not made up my mind on which of the two I will vote
for
Translation, we the government are guilty of poor planning because we put
all our eggs in one basket. In 2008 we saved you from nothing we were in a
position to make promises based on thin air because the economic cycle we
were in was a positive one. Now its election time and we're out of rabbits
to pull out of the hat. We tore a few holes in the social infrastructure that
means the poor and the elderly won't be as pleased and the list goes on,
I think the dissatisfaction level with this government may be on the rise.
I know one thing I will not be voting Conservative or Green so I have one of
two choices. No I have not made up my mind on which of the two I will vote
for
No it doesn't. Oil was overinflated since 2005 to cover mega projects aka ActionPlan.
The is no shortage of stupidity to tap into in this Country.
The is no shortage of stupidity to tap into in this Country.
