Monday, January 18, 2010

the Petro-Loonie

See the Toronto Star today for a piece on how because of the tar sands Canada's dollar has become a "petro-loonie" - connected to the price of oil.

With global scarcity hitting oil, the price will only trend upwards, taking the dollar with it, and pricing our manufacturing products out of international markets.

So, when people tell you the tar sands are good for Canada's economy, ask them "who's economy?"

Here is the graph: