Prolong low price of oil is detrimental to the economic health of Canada. As can be seen from the TSX Oil & Gas, TSX Energy capped indices, both plunged together with crude oil price. Sooner or later, this ripple will start to be felt in various sector.
Up until now, production from oil sands has fueled growth in other sectors, including for example transportation and housing in Canada. This is about come to a screeching halt.
With current price of crude oil, it is not enough to fuel the housing and renovation.
Even in REITs such as Northern Property REIT, price had broken down from the purple bear flag. And if this can happen to Canada, the same thing will sooner or later affect their blood neighbour of all time, USA.
Up until now, production from oil sands has fueled growth in other sectors, including for example transportation and housing in Canada. This is about come to a screeching halt.
With current price of crude oil, it is not enough to fuel the housing and renovation.
Even in REITs such as Northern Property REIT, price had broken down from the purple bear flag. And if this can happen to Canada, the same thing will sooner or later affect their blood neighbour of all time, USA.