Oct
15
Oil Country Boom Ain’t Over…
Filed Under Alberta, Education, Mexico, News Articles, Oil Exports, Oil Sands, World News | Leave a Comment
Jeff Rubin has a simple message for Albertans worried about plunging oil prices: CHILL OUT!
This was the opening line of a great newspaper article posted in Vancouer Sun on Sept. 20, 2008. The odd thing about this, is that the articles that talk about the positive things this economy are brining are found tucked away in papers… prime example, this was on page I6 !
Here is what it had to say…
But for Canadians, the key tidbits are that the U.S., our primary export market, is going to become even more dependent on us. Not only is their ability to supply their own demands diminishing as well-known basins such as the Gulf Coast begin to show diminishing returns, but projected replacement supplies from places such as the Arctic National Wildlife Reserve are decades away from becoming a reality.
At the same time, other key U.S. suppliers such as Mexico and Venezuela have, to put it politely,
issues. Within the next four or five years, for example, Rubin predicts Mexico “will no longer be exporting oil to the United States.” As for America’s relationship with Venezuela, suffice to say it’s not likely to improve so long as strongman Hugo Chavez is calling the shots — and there is no reason to believe that is about to change anytime soon. What does it all mean? Good things for the oilpatch by and large. Without a doubt, demand for production from the oilsands will continue to grow in the United States and elsewhere — even if, as a result of the credit crunch that is sure to follow this week’s machinations in the investment-banking world, some projects are temporarily shelved.
And in triple-digit prices, conventional explorers will also be chomping at bit, so to speak, to find more oil. Which is why - as difficult as it may be - we need to be sanguine about what lies ahead for the oilpatch.
BOTTOM LINE . . .
We Canada, provide USA our southern friends, SECURITY in the future…
Oct
10
Wall Street’s Melt Down Explained
Filed Under Foreclosures, Special Reports, US Economy, US Housing Market, World Economy, World News | Leave a Comment
I have to say that this is a good behind the look at what has happened in the US and the financial markets. The one thing they are missing is a ‘big thing’.
CONSUMERS…
The main reason this whole collapse has happened, as consumers / investors are always chasing the dollar and chasing the ROI (Return on Investment) that companies create risky products to keep shareholders happy, keep investors investing and their companies strong. This is a very simplified version of the reality, but it’s true.
What are your thoughts? How did this collapse happen?
Oct
9
Canada to lead G7 in GDP growth in ‘09: IMF
Filed Under Canadian Economy, World News | Leave a Comment
Canada will lead the other G7 countries in economic growth in 2009, a muted honor considering that the global economy should slow markedly, according to a new IMF study released Wednesday.
The International Monetary Fund said this country should see economic growth in the range of 1.2 per cent next year, less than half of what Canada experienced in 2007, but the best performance among Japan, the United States, Italy, France, Germany and the United Kingdom.
Still, Canada’s economy is not immune from the ongoing global financial collapse, said the international monetary think-tank.
“Although resource-intensive sectors have benefited from high commodity prices, the lagged effects of past real appreciation of the Canadian dollar, together with the United States slowdown, has hit manufacturing hard,” said the IMF’s World Economic Outlook, produced just ahead of a two-day meeting between IMF and World Bank officials.
Overall, the world economy will grow by 3.9 per cent in 2008 and three per cent in 2009. That level is 40 per cent slower than the five per cent increase it averaged for 2004-2007.
The IMF anticipates the U.S. economy will stumble badly next year, posting a microscopic growth rate of 0.1 per cent next year, a far cry even from this year’s expected GDP increase of 1.6 per cent.
All of the major industrialized countries are grappling with the worst economic crisis since the Great Depression in the 1930s, the IMF said.
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It is truly amazing how this article has been hidden from mainstream media. This is an excellent example of why listening to the media and following their every move can hurt us as a nation. Canada will be effected by the global melt down, but it will not destroy us. We are in the number 1 spot right now to lead the G7… This is awesome news…
This is what I like to read about, instead of reading how we are going to be going into another depression, recession etc. The best apart about it is the within the country to lead the G7, which of those provinces will lead that nation? That’s right… ALBERTA… I don’t know about you, but I’m continuing to put my money into real estate here.
What do you think?
Oct
3
As readers of The Calgary Real Estate Blog, we would love to hear your feedback on what is happening south of the border. We value your opinion and would love to hear what you think.
Here’s the question…
Now that the US passed the Bailout plan, what effect will this have on our economy and in-turn our real estate?
Looking forward to a great discussion…
The Chamberlain Group
