Panic time: As oil goes, so does Canada’s economy

captain morgan

Hall of Fame Member
Mar 28, 2009
28,429
148
63
A Mouse Once Bit My Sister
Captain, I'd shoot the last elephant.


I hear there's good money in illegal ivory.... You can use that cash to stock up on gasoline for the muscle car.

Super smart move

What are the Economist's wild assumptions?


.... Ummmm... That demand from the globe's 2 largest growing economies won't translate into a middle class with disposable income and want cars (that they have already proven that they do)?
 

petros

The Central Scrutinizer
Nov 21, 2008
117,418
14,310
113
Low Earth Orbit
So neither one of you two clowns actually read the economist article.
We believe that they are wrong, and that oil is close to a peak. This is not the “peak oil” widely discussed several years ago, when several theorists, who have since gone strangely quiet, reckoned that supply would flatten and then fall. We believe that demand, not supply, could decline. In the rich world oil demand has already peaked: it has fallen since 2005. Even allowing for all those new drivers in Beijing and Delhi, two revolutions in technology will dampen the world’s thirst for the black stuff.
If its and buts were fruit and nuts we'll all have a Merry Christmas.

We haven't even come close to tapping half of the known oil.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
.... Ummmm... That demand from the globe's 2 largest growing economies won't translate into a middle class with disposable income and want cars (that they have already proven that they do)?

This depends on what the standard should be for disposable income.
 

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
Relied? That's news to people in SK. Who knew?

http://www.cbc.ca/m/news/canada/little-panic-in-calgary-s-oil-patch-even-as-prices-plummet-1.2802068

When CBC Calgary sent a reporter to a recent pipeline conference to ask about the ongoing price drop, all we came back with was a collective shrug of the shoulder.



There is a driving force for students to go into journalism....it's called failing math.

Factoid- Around 11 per cent of Saskatchewan’s revenue, $1.56 billion, comes from oil sector royalties. Does that mean the other 89% of the SK economy is going to pack it in?

Thats why we have news papers. They tell us all kinds of things we never knew. Unfortunately they often get their facts wrong because sensationalism is so much better reading than reality.
Lower energy prices are better for the economy as a whole and slowing down the development of the oil sands will not have a negative impact on the economy. In fact it might even be better if we are not fixated on one resource. Might even be a good time at improving energy distribution within the country so we are not held captive to international prices.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
Relative to those individual economies.

You are welcome to define it if you so choose?

PS - there is a highly subjective component in that above definition (being that it is up to the individual to make that choice).

Good luck!

So you'll need to prove that the Economist's version is a wild assumption then.
 

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
So you'll need to prove that the Economist's version is a wild assumption then.

Just wait a couple of months and all will be told. All "experts" (and I use the term loosely) have their own hobby horse, be it real estate, natural resources or investments. All make dire predictions from time to time. Most of them are wrong or their would not be so many losers or bad advice floating around.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
Depends on the context of the article.

I'm sure there are many articles that use probable qualifiers and they are not false depictions.

That's why there is discussion about the content.
 

petros

The Central Scrutinizer
Nov 21, 2008
117,418
14,310
113
Low Earth Orbit
Depends on the context of the article.

I'm sure there are many articles that use probable qualifiers and they are not false depictions.

That's why there is discussion about the content.

Context and source. Biased sources are notoriously inaccurate.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,817
471
83
Context and source. Biased sources are notoriously inaccurate.

The Economist could be a biased source on the economy, but considering that bias leans right, this is pretty extraordinary news.