Chadd 916 Report post Posted January 2, 2015 This is what has been really interesting to follow...what I've been reading suggests the oil price will bounce back as soon as OPEC wishes, projected to be sometime in the next quarter or two. For now, they're all too happy to stick it to the new producers who can't break even getting oil from shale, etc., if the price is below $70/barrel. I don't know Western Canadian economics at all, but I'd be surprised if they're as exposed as Russia, where the entire economy is dependent on the oil price, and as soon as that dropped out and the value of the Ruble with it, their international debt skyrocketed...oooh, and I almost forgot: Ukraine. Russia's even more exposed since they're cut off from international financing due to their incursions in Ukraine. Any part of Canada shouldn't have that problem any time soon. If the oil price were to stay this low for more than a year, then yes, I would agree with your assessment of the Calgary and Edmonton economies, but their situation isn't perfectly analogous to Russia's.There was no rational or supply based reason for the oil to be over $100 a barrel in the first place. It was a bubble, and that bubble has burst. Yes, it will go back up somewhat when the Saudis cut back production, but they have said that they have no intention of doing so any time soon. In fact, current speculation is that we will see $30 per barrel oil this year. The US dollar is also starting to gain strength again. If that continues, the price will continue to go down in terms of dollars. Share this post Link to post Share on other sites
flip12 714 Report post Posted January 3, 2015 $30! Damn. I hadn't read that yet. I believe it though. Thanks for the update :) Share this post Link to post Share on other sites
Chadd 916 Report post Posted January 3, 2015 That's the most extreme estimate that I have heard. There was an article on Forbes where the last line was essentially; "we estimate that $60 will be the ceiling for the next few years and we have no idea what the bottom will be" Share this post Link to post Share on other sites
Neal 41 Report post Posted January 5, 2015 Wow! I hadn't heard that. Oil under $60 for several years will be very impactful. Share this post Link to post Share on other sites
Harv 86 Report post Posted February 17, 2015 Gabrielle T-F @gabrielletf 10h10 hours agoMoscow, RussiaRussian government decrees to limit the number of foreign athletes in the country. Expect mass exodus of foreign KHLers after the season. Share this post Link to post Share on other sites
chippa13 1844 Report post Posted February 17, 2015 That's one way to stop all those tax free dollars from leaving the country. Share this post Link to post Share on other sites
215BroadStBullies610 435 Report post Posted February 18, 2015 Maybe this will help the AA and A pro leagues here in N.A. Share this post Link to post Share on other sites
