Oil price drop means lost billions for Canada

[Blackleaf]

I bet the Scots are breathing a sigh of relief that they didn't vote for independence.

Had they done so, this drop in the price of the commodity that the Scots Nats keep telling us would make an independent Scotland rich would mean that Scotland would now be facing an impending financial black hole just 14 months before its becomes independent.

 

[mentalfloss]

“This is not just an Alberta problem,” he said. “This is a Canada-wide problem because we now have more diversified energy assets across the country. While the head office base is here, there are jobs all across the country tied directly and indirectly to energy that will feel the pain.”

Richard Truscott, Alberta director for the Canadian Federation of Independent Business, said it’s not good news for Alberta’s economy when energy prices drop so far so fast. However, there will be winners and losers in different sectors.

He said that any business that has fuel as a significant component of its operation, such as in transportation, will benefit from lower gasoline prices which will have a positive impact on the bottom line.

“But overall it’s bad news for Alberta and for our economy,” said Truscott. “The drop in oil prices is likely going to spell some bad news for businesses in our province generally … Longer term it’s going to impact market demand.

Lower oil prices could boost other parts of Canadian economy | Calgary Herald

 

[captain morgan]

MF; where do you think the transfer payments that Mr Wynne is expecting come from?

 

[mentalfloss]

I'm not well versed in how the equalization formula works.

I would assume it would be less next year if the economy does pick up for the province.

 

[petros]

I'm not well versed in how the equalization formula works.

I would assume it would be less next year if the economy does pick up for the province.

Not with your debt load. Until that debt is down to a manageable level the benefits of economic growth won't be seen for a long time.

 

[taxslave]

So far the lower fuel prices and lower dollar are looking good for forestry. All depends on where you sit if it is good or bad. Which is why smart people have balanced portfolios.

 

[petros]

Good thing we have diversified economies that more than make up for oil royalties now that the pegged price deal with OPRIC is toast.

 

[whitedog]

Good thing we have diversified economies that more than make up for oil royalties now that the pegged price deal with OPRIC is toast.

Diversified? Well if you call a smattering of mac's milk stores diversified, then yeah, I suppose.

 

[petros]

Diversified? Well if you call a smattering of mac's milk stores diversified, then yeah, I suppose.

Are you blind in one eye and can't see through the other?

 

[whitedog]

Are you blind in one eye and can't see through the other?

Why did someone tell you that i said you looked good?

 

[petros]

Why did someone tell you that i said you looked good?

I look like a freshly opened can of smashed a$sholes..

Are you a tulip theorist?

 

[darkbeaver]

The price of a bbl spiked to $140 USD a few years back with no potential for major conflict.

Fact is, as long as the consumer is willing to pay whatever price is dictated, they will have to. Despite the horse sh*t about alternatives, there is nothing that can replace hydrocarbons now or in the near future.

Keep an eye on corp acquisitions of oil/reserves by foreign nationals in the NorAm resource space. That is the smart play by Aramco et al... Drive down the price, alter the economics and start buying-up NorAm production and control the market that way.

I'll be looking for that as well.

 

[MHz]

Are you blind in one eye and can't see through the other?

Who said that?

 

[petros]

The Kingdom will sure 'look different' by 2030: Saudi Arabia has 80 mega-projects up its sleeve | Al Bawaba

 

[mentalfloss]

Ouch.

This is pretty damning.


Oil Export Plunge Signals Canada Economy Running on Empty - Bloomberg

 

[EagleSmack]

Just as I've been saying... the alarmists are in a panic.

 

[mentalfloss]

Bloomberg are AGW alarmists confirmed.

 

[EagleSmack]

Bloomberg are AGW alarmists confirmed.

It was directed to you. It is just as I was saying. Alarmists, such as yourself, are in full panic mode and are trying to do anything to keep the fear level up.

Why are you so afraid?

 

[captain morgan]

Just as I've been saying... the alarmists are in a panic.

Of course Flossy is all in a tither, hence his scouring of the web to find anything that will offer some kind of validation to his shaky beliefs

Ouch.

This is pretty damning.


Oil Export Plunge Signals Canada Economy Running on Empty - Bloomberg

Laughs on you Flossy... That much needed Transfer payment(s) that Mr. Wynne has been whining about to kick-start Ontario is probably on hold (tsk, tsk)

Further, if you read the Bloomberg article carefully (if you have even read it at all) makes the case for Harper to green-light all three intra-Canadian pipelines ASAP.

You lose again bud...

 

[EagleSmack]

Of course Flossy is all in a tither, hence his scouring of the web to find anything that will offer some kind of validation to his shaky beliefs

And in his haste to point out it was a Bloomberg article just proved my point.

They are in FULL panic mode.