Canadian dollar
After several years of heading down to the USA for a couple of months in the late winter, we have more or less decided we will not do it this year due to the poor exchange rate of the Canadian dollar....
Forum Discussion
John&Joey wrote:
IMHO, if you're waiting for the dollars to get close, you're in for a long wait. Oil should go up, but unless the speculators get at it, I don't think it will go over $40-60/barrel.
Yeah, as long as the frackers can make money at $40/barrel, and most can, this will moderate the price for a long time to come. And improvements that the Canadian and US Oil industry are making in their fracking techniques are driving this price even lower. A lot of the OPEC countries need oil at $80/barrel or above to break even, so things will be rough for them. Just look at Venezuela as an example. There will be other OPEC countries going down this path as well, Even Saudi Arabia is having financial problems and they have probably the lowest break even point for the price of oil of all the OPEC countries.
A better hope for the Canadian dollar is some disaster in the US economy that weakens the US dollar significantly, and we may be headed for that over the next two years. The alternative is some political solution that recognizes the negative impact a strong US dollar is having on the US economy, but that may or may never happen.
