Quote:
Originally Posted by Byrns
Are you saying that oil prices haven't historically been cyclical?
I'm not running the province so I'm not sure why it matters what I did "to capitalize on this."
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Yes, they have always been cyclical. However in the summer when the elimination of health care premiums was announced, the opposition was still complaining that the gov't was't giving enough back, because they were still basing their budget on oil prices that were almost 1/2 of what the price of oil was at the time.
And my point on you capitalizing on this is basically saying that very few people saw oil going below $40 again. You and I didn't know, and I have yet to hear any stories of investors who were able to make money on this, or were able to sell everything before the markets tanked.
Also to comment on Norway's version of the Heritage fund. Keep in mind the tax rates there. Something like 28% income tax- and 25% "GST." The comparison is like me and a guy who is living of an inheritance; and wondering why I can't put all of my paycheques into a saving account like the guy who gets $10K per month from his inheritance.
Edit- keep in mind guys; I don't like Ed as our premier and I really don't think he knows how to handle a recession. But I'm not going to blame him for things outside of his control.