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Red Mile Style · 01-19-2007, 05:00 PM

I read about this on another website, but apparently after two or three quarters of oil under $60 the Alberta economy would be severely threatened. Which leads to ideas that perhaps OPEC is purposely doing this to kill the boom (in Alberta and other places in the world).

Which begs the question, is it low enough right now to do some damage (if it stays on this course) or does it have to go lower?

I personally think that unless the provincial government does something in terms of royalties, this has the potential to have a huge, HUGE impact on Alberta. I don't want to think about all those people that have taken out morgages etc. If this blows up to the degree that some are speculating we're talking an enormous impact economically, socially, politically...

Any thoughts?

01-19-2007, 05:00 PM	#1
Red Mile Style Lifetime Suspension Join Date: Apr 2006 Location: Vancouver Exp:	Oil prices drop to under $50/barrel I read about this on another website, but apparently after two or three quarters of oil under $60 the Alberta economy would be severely threatened. Which leads to ideas that perhaps OPEC is purposely doing this to kill the boom (in Alberta and other places in the world). Which begs the question, is it low enough right now to do some damage (if it stays on this course) or does it have to go lower? I personally think that unless the provincial government does something in terms of royalties, this has the potential to have a huge, HUGE impact on Alberta. I don't want to think about all those people that have taken out morgages etc. If this blows up to the degree that some are speculating we're talking an enormous impact economically, socially, politically... Any thoughts?