It is really shocking to see the oil slipping in the international market.
Where is it heading to ? I was expecting it will stabilize between 60-65 and by now it seems there is no limit. The oil price and the gloomy auto sector in US is by far the most influencing catalysts of the Canadian Economy.
It is becoming critical for us to react to the environment and prepare self to confront the situation.....
Your thoughts on this please.......
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Location: God's own country
Posted on: 21-11-08 00:31:25
No one can really predict the bottom for Oil in the current senario. It can go as low as it can and also pull the cdn. dollar with it and hence it is a good idea to change into US$.
Ottawa is expected to run into $14 Billion deficit next year and alberta has lost $6.5 billion surplus in 3 months and now is in $2 Billion surplus. Oil sand is profitable only if Oil is at $60 and above or with the new techniques available now at atleast $50. Hence we can see reverse migration from Alberta into provinces like BC, Ontario and Quebec.
Again all this is only until US starts to pick up. Once US starts booming, Oil will once again go atleast to $120 and above... If Senator clinton H becomes the secretary of state, there is wide spread notion that she will take a hard stand against Iran and this may drive the price of Oil up, atleast in the short term.
As pratick said in another thread, we are just months away from getting the bad news as our southern neighbour USA.
Peace by TK
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I am a Gents and not a Ladies.
What are they saying here about OIL? Will it go down to $30/bbl, may be if the financial markets raise their heads and move. Otherwise....
http://www.theglobeandmail.com/servlet/story/RTGAM.20081120.woilprices1120/BNStory/Business
Will the heating costs go down this winter?
http://www.allheadlinenews.com/articles/7013015533
Will all of the high paying jobs ever return? Will they hire anyone at all?
http://www.theladders.com/reg/ppc?pl=m0-site&cr=065&source=gopaid
Thank God It is Friday. I will read the news in the Saturday's Paper and clue up.
Have a good one.
Freddie.
As the old saying goes - "be careful what you wish you, you might just get it."
People all over the world have been complaining about high gas prices.
Americans and us Canadians have been whining the most, even though gas prices in US and Canada are cheaper than Europe and Asia.
In the past one year how many threads have we had on CD complaining about gas prices!
And now that we have gas at 75c. (this morning), we are complaining again!
Make up your mind, folks 
During previous recession (2000 - 2003), gas prices stayed high[er] because of political turmoil and wars in the middle east (thanks to Bush administration).
Historically, low oil prices have co-incided with recessions.
Oil stayed low thru most of the 1980s and until the mid 1990s.
You do not want low gas prices at the pumps, because that means recession.
And this time, indications are that we are headed towards a deflationary recession like the 1930s and not inflationary, like the 1970s/1980s.
Not good, not good at all.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
If depression is in its undeniable offings, we have no clue to avoid it but could prepare well enough to face it or deal with that.
Even during the worst depression of 30ès more than 75% of people were still employed.
Quote:
Originally posted by pratickm
As the old saying goes - "be careful what you wish you, you might just get it."
People all over the world have been complaining about high gas prices.
Americans and us Canadians have been whining the most, even though gas prices in US and Canada are cheaper than Europe and Asia.
In the past one year how many threads have we had on CD complaining about gas prices!
And now that we have gas at 75c. (this morning), we are complaining again!
Make up your mind, folks
During previous recession (2000 - 2003), gas prices stayed high[er] because of political turmoil and wars in the middle east (thanks to Bush administration).
Historically, low oil prices have co-incided with recessions.
Oil stayed low thru most of the 1980s and until the mid 1990s.
You do not want low gas prices at the pumps, because that means recession.
And this time, indications are that we are headed towards a deflationary recession like the 1930s and not inflationary, like the 1970s/1980s.
Not good, not good at all.
-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:And is that a good thing?
Originally posted by JRF
Even during the worst depression of 30ès more than 75% of people were still employed.
25% unemployment is really, really bad.
In fact, I'm convinced if we see 25% unemployment in the US for a sustained period of time (like 1930 - 1938), it will essentially bankrupt the social security and welfare system in the US (if it's not already so).
And the effect of that globally, esp. on Canadian economy, will be devastating.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
