Canadian dollar drops below 73 cents US as oil sinks under $36

Besides low oil prices what does this mean for the rest of the world?

Honest question, is this good or bad?

>>8606
Bad if you live Canada, but due to the amount of crosstrade between Canada and the US, it isn't exactly great news for the US either.

>>8581
It really isn't a good thing for anybody but OPEC and maybe the Russians.

>>8606
>Honest question, is this good or bad?
Great for Us consumers, bad for any country which relies heavily on oil.

>>8610
Why are lower oil prices better for OPEC? Isn't OPEC dedicated to regulating oil prices and keeping them relatively high?

>>8632
OPEC producers can pump oil for small amounts of money compared to lots of other production regions on Earth. If prices are low, many competitors have to stop pumping or face financial ruin. OPEC countries gain market share

>>8610
Good for me right now with gas prices and commuting. As for the future, since its killing domestic shale and the like probably not.

Its not good or bad. It just represents the demand for canadian dollars, which has fallen

>>8610
I don't think it's as great for OPEC as they think. Especially when countries are still powering ahead with conversion to greener energy. They were hoping to crowd out competitors not in OPEC, but they might just be missing their last opportunity to sell oil at a high price.

>>8608
It isn't bad for the Canadian tourism industry. I'm considering visiting Montreal in a couple months because it'll be a lot cheaper than normal.

Good news for butter tart lovers.

>>8556
Will weed man save the economy?

>>8768
Weedman is taxing the rich and driving away more people from this socialist shithole.

>>8805
If western governments agreed on a unified tax code people wouldn't really be able to run away any more unless they like speaking Arab.

>tfw you live in Alberta
>tfw been unemployed for almost 8 months

It's hurting Texas as much as it is Canada

Look at the news out of west Texas oil towns like Midland or Odessa. Doom and gloom everywhere.

>>8810
>tfw US didn't want our pipeline
>tfw US would rather get oil from shit skins

>>8626
>Great for Us consumers, bad for any country which relies heavily on oil.
So, good for everyone?

>>8892
Gas is $1.70 a gallon where I live and according to some Canadians on 4chan, the average price up there is around $5.60/gallon. Damn. You're basically selling your oil to us for free while you guys have to chop down a maple tree and sell it on the market in order to afford a gallon or two.

You could always just move here if you can live without Tim Horton's.

>>8892
>>tfw US didn't want our pipeline
>>tfw US would rather get oil from shit skins
The keystone xl pipeline was just an extension to the existing keystone pipeline, that runs through the Us.


>>8901
>So, good for everyone?
No, nations that have nationalized their oil fields and depend on oil revenue for a large chunk of their budget, usually get more unstable as they spend every penny and dont save for the enviable dip in oil prices. This can lead to lots of unrest and the need for american intervention., But in first world nations like the Us which oil revenue makes up almost none of its tax base and employs a very small number of its citizens, its basically a stimulus for the Us economy.

Canadian here, I'm buying bitcoin because it actually seems more reliable right now.

>>9041
>I'm buying bitcoin
You're retarded.
At least invest in something that isn't a literal meme. The bitcoin bubble has burst before, it will burst again. It's only good for "anonymous" payments when you deal in onion trades.

>>9050
bitcoin works the best for my situation, but thank you for the advice.

>>8904
My corner gas station has gas for $3.45 CAD a gallon today. That is roughly $2.52 USD.

Its all the taxes on gasoline tbh fam.

>>8810
AB oil is actually trading somewhere closer to 21-22$ CAD right now...

Oh the end times are nigh.

>>8556
Good. It's time to move away from oil to sustainable energy sources.

>>9124
Like what?
Power of love?

>>9125
Wind, tidal, geothermal, solar, hydro, bio, etc. And don't ever underestimate the power of love

>>8938
You lost me. I get your logic in how it doesn't hurt the US government (at least relatively and directly), but how is it a stimulus.

>>9130
>all that unreliable shit
>all that expensive shit
>thinking the libs will ever go for hydro with muh fish when it's the best option there
Maybe we can store it by buying quadrillions of rechargeable batteries

>>9202
A few Canadian provinces already do quite a bit of hydro electricity. I dont know how it's stored but I do know we sell a fare amount of power to the states so there is profit to be made.

Tidal and geothermal are expensive to start but are renewable and profitable in the long run

The big one will be biodiesel I think. There's so much waste in agricultural processes that can make it. If oil companies began investment in all ends of this business, including pushing automakers to design more diesel friendly engines, there could be alot of cash here considering how much agriculture Canada does. Especially in Alberta where the low oil prices are being felt the most.

This isn't hippy nonsense either, it can be done and if things go like they are, it will need to be done to save our economy. This is the future and the opportunities are huge for whatever companies are willing to make the initial capital expenditures and cut their ties to the dieing oil business before they go under taking us Canadians with them.

>>9178
>but how is it a stimulus.
Due to lower oilprices, Gas prices drop, leaving consumers with hundreds or even thousands of extra dollars to spend.
An uptick in consumer spending usually follows a drop in oil prices, Which creates a higher demand for goods(which are typically cheaper to produce and transport due to lower oil prices) which spurs a slight uptick in job growth(although this is short term).

>>8760
>tourism

Partially this.
A low dollar is certainly a spiked cock up the ass for the average Canadian, but I'd imagine it's also a nice treat for visiting foreigners and Canadian businesses which trade anything but oil internationally.

I'm not paying 80 bucks for the crap that game publishers are pushing though.

>>9397
Ya ppl act like oil is our only commodity

>>9397
Yeah fuck paying $90 for a game with tax to be honest. I miss renting games goddamn

Down down down

Good, now I can take a nice cheap vacation to Canada again, or I would if they weren't replacing their population with Chinese and Muslims.

>>8581
a supply crisis for us companies and likely a serve recession.