Benchmark Oil Price Plunge: What it Means for Canada's Economy скачать в хорошем качестве

Benchmark Oil Price Plunge: What it Means for Canada's Economy

The benchmark North American crude blend, West Texas Intermediate (WTI), has hit a four-year low, dropping below $55 a barrel. This downward trend has been a concern for Canada, especially Alberta, as oil royalties significantly impact the government's financial health. Energy researcher Rory Johnston explains how weakening global growth expectations and a surge in supply have driven this trend. He highlights the impact on Western Canadian producers and the relatively stable price gap between WTI and Western Canadian Select (WCS). Charles St-Arnaud, chief economist at Servus Credit Union, discusses the fiscal consequences of these price declines and the need for an 'adult conversation' on Alberta's fiscal policy. Join us as we delve into the implications of this oil price slide and its potential long-term effects on Canada's economy.