Panic time: As oil goes, so does Canada’s economy
- Thread starter mentalfloss
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Yep the human animal is the only species that handles money and contrary to some people belief trees don't product it. (Not directly anyway)
It means that the funding to the eco-lobbies and renewable energy sources from the major oil companies dries up.
Betcha didn't see that coming
Dammit.
Must've deleted a character by accident and I can't find it on Google now.
Sorry Walt.
If anything calls for government regulation of frenzied and irrational markets.. it's oil. Something we have control over. There should be a set and advantageous domestic price for oil. We should only sell refined petroleum externally to spur employment.
In fact we should nationalize extraction and primary production as all sensible oil producing countries have already done. Why should we cower and subordinate ourselves to the giant oil companies and exchanges who care nothing for nations or people.. only profit. They need our oil more than we need them.
In fact we should nationalize extraction and primary production as all sensible oil producing countries have already done. Why should we cower and subordinate ourselves to the giant oil companies and exchanges who care nothing for nations or people.. only profit. They need our oil more than we need them.
What moronic logic in this article.
Summed up: A drop in oil prices is hurting the Fed and Prov budgets that benefit from oil, therefore, stop producing oil and (magically) the problem is fixed.
Kinda like saying that you need a new roof on the house and it's too expensive, so the answer must be to get rid of the roof.
What moronic logic they have at BMO!
Low oil prices could cost Ottawa $3-billion over next year, BMO economists say - The Globe and Mail
Low oil prices could cost Ottawa $3-billion over next year, BMO economists say - The Globe and Mail
It's never been posted before.
I guess Macleans must be lying too lol
The effects on Canada’s economy are already showing. Aside from our stagnant stock market, which has dramatically underperformed the U.S. S&P 500 since 2011, the slowdown is showing up in the jobs sector. Whereas two years ago miners were hollering about a shortage of skilled labour, the job vacancy rate for the mining, oil and gas sector has since fallen to its lowest level since Statistics Canada began tracking it in 2011. At least one multi-billion-dollar oil sands project, proposed by Norway’s Statoil, has been shelved. Others look tenuous. Earlier this month two Asian firms that had paid $1 billion to buy Calgary-based Grande Cache Coal in 2011 ended up unloading the company to a Chinese coal producer in return for assuming the company’s debt. The selling price: a toonie.
In other words, the 15-year commodity boom—which gave Canada its Teflon-like strength during the deep global recession and helped make us the envy of the world—has run its course.
What a commodity bust would mean for Canada's economy - Macleans.ca
I guess Macleans must be lying too lol
The effects on Canada’s economy are already showing. Aside from our stagnant stock market, which has dramatically underperformed the U.S. S&P 500 since 2011, the slowdown is showing up in the jobs sector. Whereas two years ago miners were hollering about a shortage of skilled labour, the job vacancy rate for the mining, oil and gas sector has since fallen to its lowest level since Statistics Canada began tracking it in 2011. At least one multi-billion-dollar oil sands project, proposed by Norway’s Statoil, has been shelved. Others look tenuous. Earlier this month two Asian firms that had paid $1 billion to buy Calgary-based Grande Cache Coal in 2011 ended up unloading the company to a Chinese coal producer in return for assuming the company’s debt. The selling price: a toonie.
In other words, the 15-year commodity boom—which gave Canada its Teflon-like strength during the deep global recession and helped make us the envy of the world—has run its course.
What a commodity bust would mean for Canada's economy - Macleans.ca
Interesting how MacLeans is not able to piece together the economic ramifications of allowing the eco-tard lobby to determine resource regulations.
What say you Flossy?... Now that you're an expert economist, any thoughts on the above?
What say you Flossy?... Now that you're an expert economist, any thoughts on the above?