Panic in Ottawa after one drastic change in Canadian monetary policy

[taxslave]

Dude.

He said himself that it's an unstable market that caused the delay.

Of course it is an unstable market. That means it will come back up shortly. As soon as oil hits $80 there will be someone in Ontario bitching about Dutch Disease again. The bean counters tend to think in terms of quarterly profits with little or no thought to long term planing.

 

[petros]

Dude.

He said himself that it's an unstable market that caused the delay.

Unstable in which way? Budgeting for higher operating costs or lower operating costs?

 

[Angstrom]

We would bear a higher burden of the cost due to carbon pricing.
For the time being, this burden depends on the pricing model for each province.

So we will cripple our own energy independence by imposing carbon tax and force Canadians to buy Saudi oil over our own, and the end result will still be environmental damage.....
Who thought up this brilliant plan?

 

[petros]

Of course it is an unstable market. That means it will come back up shortly. As soon as oil hits $80 there will be someone in Ontario bitching about Dutch Disease again. The bean counters tend to think in terms of quarterly profits with little or no thought to long term planing.

It will go back up in May when demand goes 10 fold and annual shut downs hit refineries just like every year.

 

[Angstrom]

Who thought up this carbon tax plan.

Let me take a guess
feminist hippies high on drugs while they were pregnant.

 

[mentalfloss]

Unstable in which way? Budgeting for higher operating costs or lower operating costs?

It was for forecasting, but gee... I wonder what it could be about?

It's not like there has been this massive drop in fossil fuels that came out of nowhere and we didn't just drop the interest rate in like forever or we are all of a sudden talking favorably about Ontario or the loonie has gone south so low for the first time in ages or Alberta is looking at a $500 million deficit for the first time in a decade.


I mean...

I mean geez...

How could one possibly get the idea that our economy is unstable right now?

Who thought up this carbon tax plan.

Let me take a guess
feminist hippies high on drugs while they were pregnant.

Yea, all the feminist hippies in Alberta for the last decade.


You are now relegated to petros status in terms of knowing absolutely nothing about the economy.

Careful or you might just hit capn morgan territory.

 

[Angstrom]

I'm

It was for forecasting, but gee... I wonder what it could be about?

It's not like there has been this massive drop in fossil fuels that came out of nowhere and we didn't just drop the interest rate in like forever or we are all of a sudden talking favorably about Ontario or the loonie has gone south so low for the first time in ages or Alberta is looking at a $500 million deficit for the first time in a decade.


I mean...

I mean geez...

How could one possibly get the idea that our economy is unstable right now?

It can't last. It's a drop to the bottom to see who comes out on the other side alive. All oil producers are taking a hit right now. The Saudi just want to Man handle the weakest producers hoping they will fold under the pressure.

 

[petros]

It was for forecasting, but gee... I wonder what it could be about?

It's not like there has been this massive drop in fossil fuels that came out of nowhere and we didn't just drop the interest rate in like forever or we are all of a sudden talking favorably about Ontario or the loonie has gone south so low for the first time in ages or Alberta is looking at a $500 million deficit for the first time in a decade.


I mean...

I mean geez...

How could one possibly get the idea that our economy is unstable right now?

Yea, all the feminist hippies in Alberta for the last decade.


You are now relegated to petros status in terms of knowing absolutely nothing about the economy.

Careful or you might just hit capn morgan territory.

Give a number. What percentage of the GDP is solely from oil revenues?

 

[mentalfloss]

I'm

It can't last. It's a drop to the bottom to see who comes out on the other side alive. All oil producers are taking a hit right now. The Saudi just want to Man handle the weakest producers hoping they will fold under the pressure.

Oh I hope it doesn't last, for all our sakes.

 

[petros]

I mean gees man. 69% of our economy consumes petroleum. Going down is bad. How will we survive with cheaper everything and more money to spend in a consumer economy?

 

[Angstrom]

Oh I hope it doesn't last, for all our sakes.

Someone will have to lose this round of poker, I hope it's not us.

I mean gees man. 69% of our economy consumes petroleum. Going down is bad. How will we survive with cheaper everything and more money to spend in a consumer economy?

Definitely helps in selling a few trucks.

 

[petros]

Someone will have to lose this round of poker, I hope it's not us.

Council of Canadian Academies | CCA | Energy Prices and Business Decision-Making in Canada: Preparing for the Energy Future

A little piece on the rising cost of energy and how Canada will cope. Sometimes you need to look back before chirping about the future.

Definitely helps in selling a few trucks.

And filling those truck to move goods for cheaper.

 

[mentalfloss]

I mean gees man. 69% of our economy consumes petroleum. Going down is bad.

And that's because we didn't diversify.

Panic time: As oil goes, so does Canada’s economy - The Globe and Mail

 

[petros]

Diversify from a service economy to what? Industry isn't green or pretty. What do you got?

Nothing? I'm not surprised somebody with a job in the service industry would want to diversify his *** out of a job.

 

[Angstrom]

And that's because we didn't diversify.

Panic time: As oil goes, so does Canada’s economy - The Globe and Mail

It's what was most in demand. We have oversaturated the market.

 

[mentalfloss]

The irony of all this being that we invested a fukkton into fossil fuels already, so we're stuck.


It’s no exaggeration to say that a drop in oil prices of this magnitude, if sustained, could tip Canada’s wobbly economic applecart.

The energy sector makes up roughly 10 per cent of Canadian gross domestic product. That’s more than retail, construction, agriculture and the public sector’s contribution to the economy. Energy accounts for roughly one-quarter of Canada’s exports.

And the sector has been punching well above its economic weight. In the first half of the year, energy accounted for 30 per cent of Canada’s economic growth, and more than 40 per cent of export growth.

An oil collapse could stall the one reliable engine in Canada’s otherwise sputter-prone economy: Alberta. The energy sector makes up nearly 30 per cent of the Alberta economy. Direct revenues from energy royalties account for more than 20 per cent of the provincial government’s revenue base – and that’s before we even get started on the big slice of the corporate and personal income tax pie that the sector delivers. Alberta’s economic and fiscal health pivots on the well-being of the oil and gas business; a 25-per-cent drop in the price of crude is a big deal.

 

[GreenFish66]

Everyone benefits from lower oil prices...except...Hmm?...Oil Industry and political backers.

Too much reliance on a barrel of oil...Time for a more balance energy plan that includes more alternative energies and investment in Up and Coming Entrepreneurs/Biz.

 

[petros]

Of that alleged 10% what are the oil royalties cuz energy includes gas, electricity and nuclear.

 

[Said1]

We like to do our bit to help the beleaguered west, lolz.

Dude, the growth here is great, the rebuilding here is great. Finishing up the Water Park Condo's in Tdot, just landed the contract for the BMO Field refit, and the contract for the new condo's where The Guvernment is now. And that's just on top of all the other small contracts coming our way.

The economy is in terrible shape!!!

BMO was largely funded by the city and 'other levels of government'. I can't speak for water park et al (although I would venture a guess and include it with Toronto's evolving world city plan - see Richard Florida), I'd guess there was a large gov investment there too - as in government job creation. In my opinion, while necessary (not unlike other government safety nets in hard times), its really fake growth.

 

[MHz]

We like to do our bit to help the beleaguered west, lolz.

Dude, the growth here is great, the rebuilding here is great. Finishing up the Water Park Condo's in Tdot, just landed the contract for the BMO Field refit, and the contract for the new condo's where The Guvernment is now. And that's just on top of all the other small contracts coming our way.

The economy is in terrible shape!!!

At least with the thawing and freezing we can skate from one side of the field to the other without breaking through once. (granted there is no actual reason for somebody to do that even if it is also the hockey rink. Heads you get the goal at the top of the hill, tails you are in the low spot)

its really fake growth.

So was going to the moon, people still had a lot more fun that sitting around watch the dust blow as being the big event of the day.

It's a wonder we could even handle the stress of a long lasting party like that where you have to be dragged to bed and chained there so you don't get up too early just because the day is going to be even more fun than yesterday..