Quote:
Originally Posted by MetaMan
i dont know how much trust there is to this but i have heard alberta there is a 15 year slowdown when it comes to drilling.
this is supposed to have a direct relation to the falling american dollar.
so this must obviously affect canadians because americans our such big importers.
i am no economist but his is what i have heard.
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There is no question the rise in the Cdn dollar has affected the amount of drilling done this year. Also going to crush the Alberta economy is the royalties put into place starting 2009. As a result you have Sask being very aggressive to get the rigs relocated to their province with no royalties in place. Things in Alberta could get very ugly very soon.
Maybe with any luck it forces the bank of canada to reduce rates and force our dollar lower.