The Official Arena Thread Part 6
View Single Post
11-29-2012, 12:27 PM
Rebuild, year 4...
Join Date: Jul 2007
Location: Calgary, AB
Originally Posted by
I worry about the Canadian dollar dropping in the next few years though, especially with news that American companies are tapping into shale reserves and being able to get oil/gas through the fracking process, it could mean the American economy rebounds strong in the next few years, leaving America with less need of any foreign oil period and a stronger dollar.
Economic conditions in Alberta can change very quickly, people who think it will always stay stable here need to study the last 30 years and what the Oilers have had to go through.
The point is fair, but things will never be "bad". I would be willing to wager a lot of money that we never see the CAD below 90 cents USD in our lifetimes, for two reasons: first the diversification of the demand for oil amongst more economies now (reducing Canadian dependence on the US economy overall), and second (and more important), the USA has fallen from economic glory in a way they can never reverse. So even if the US economy does pick up, it can never be what it once was relative to countries like Canada. The barn doors of free trade are open and good luck closing them again.
View Public Profile
Find More Posts by stratedge