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Oil prices are plummeting. Here's why that's a big deal.


Woolfsmck

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Not good for my Canada where oil is the biggest industry and were already selling at the stupid discount price thanks to alow North American benchmark :coffee:

But yeah oil prices wont be going up anytime soon. Oil production is rising quickly in several Countries while world consumption is barely rising at 1% annually now

A combination of weak economic growth as well more fuel effecient cars and more renewable energies is resulting in stagnation in consumption

Of course its cyclical. Lower prices will lead to lower investment in fields reducing growth in production. At the same time cheaper oil will help world economy and lead to more consumption

So in a few years prices will be rising again!!!

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Woolfsmck

Not good for my Canada where oil is the biggest industry and were already selling at the stupid discount price thanks to alow North American benchmark :coffee:

But yeah oil prices wont be going up anytime soon. Oil production is rising quickly in several Countries while world consumption is barely rising at 1% annually now

A combination of weak economic growth as well more fuel effecient cars and more renewable energies is resulting in stagnation in consumption

Of course its cyclical. Lower prices will lead to lower investment in fields reducing growth in production. At the same time cheaper oil will help world economy and lead to more consumption

So in a few years prices will be rising again!!!

since Canada has a large consumer base as well, it should stimulate personal spending, and help people pay off their credit cards, and buy more stuff, like Gaga's cheek to cheek ...

Your right tho, Canadian exports will suffer somewhat ...

like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true
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