Riverwind Posted August 18, 2005 Report Posted August 18, 2005 http://www.theglobeandmail.com/servlet/sto...NStory/Business The loonie is increasingly being viewed as a petrocurrency as international recognition grows of Canada's status as a major, politically stable oil producer.This is really bad news. An artificially high dollar due primarily to oil wealth will kill almost every other sector of the economy. This a real effect that has been documented as the 'Dutch Disease':http://www.imf.org/external/pubs/ft/fandd/2003/03/ebra.htm Maybe it is time for our gov't to start thinking about the value of the dollar before it is too late. Quote To fly a plane, you need both a left wing and a right wing.
Bakunin Posted August 18, 2005 Report Posted August 18, 2005 I don't know what is being done in english canada but there is an organism trying to do something in quebec called "L'essence à juste prix" in english: "Gas at the right price". They are trying to convince the federal government to investigate the jump in prices at the pump. Click here for the article Like you say, its dangerous to hurt the economy with such high gaz prices. Quote
Riverwind Posted August 18, 2005 Author Report Posted August 18, 2005 Like you say, its dangerous to hurt the economy with such high gaz prices.I was not talking about gas prices - I was talking about the fact that currency speculators are making the Canadian dollar go up because Canada produces a lot of oil. I believe the Canadian gov't should be thinking seriously about the issue. Quote To fly a plane, you need both a left wing and a right wing.
mirror Posted August 18, 2005 Report Posted August 18, 2005 The price we pay at the pumps is basically determined by the crude oil prices which are quoted several times a day in the business media. Right now it is approximately US$65. a barrel. For the consumers there is little one can do except get a bicycle, a hybrid vehicle, and use gas tips. Here is the URL for Montreal. Quebec Gas Prices Quote
Toro Posted August 18, 2005 Report Posted August 18, 2005 Hey, I'm fine with it. Besides, what is Canada going to do, not receive the world price of oil? Currency appreciation gives the BoC more breathing space anyways. If conditions get tight, they can halt or lower interest rates. Quote "Canada is a country, not a sector. Remember that." - Howard Simons of Simons Research, giving advice to investors.
err Posted August 18, 2005 Report Posted August 18, 2005 When our dollar rises, we'll see the full benefit of NAFTA.... The low dollar has kept us steeped in business from the USA, but as our dollar climbs, so do our prices... at least from the USA's perspective.... Quote
shoop Posted August 18, 2005 Report Posted August 18, 2005 Hey, I'm fine with it. Besides, what is Canada going to do, not receive the world price of oil? <{POST_SNAPBACK}> That was the essence of the National Energy Program. Amazing how utterly ridiculous it looks in hindsight... Quote
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