Believe it or not 19.04.2020. Canada in Trouble

O

Okiya

Elder Lister
Western Canadian Select is trading at Negative $0.64 per barrel. Infact they are paying people to come and collect the oil. Oil is Canada's largest export industry.

This year canada has seen the collapse of its Oil, Automotive, Travel/Hotel and Service industries.

The future of hundreds of thousands of canadian jobs is at stake

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The global economy has never been the same since the 1973 oil embargo by OPEC. A 400%, jump in price from US$3 per barrel to $12 . The 1973-74 oil crisis re-set the global economy in ways which completely changed the world !
Today, decisions being made by OPEC \Russia is a driver to the 2020 oil crisis ! Canada unlike the US is a small player in this market but highly dependent on the revenue from the oil sands of Alberta which has seen gradual declines in demand, in recent years.
 
The oil crisis started even before corona. Russia and the UAE failed to agree on production quantity leading to each upping the other in production. The lower demand due to the Chinese plague just exacerbated the issue
 
So those Turkanas who almost wanted to fight because they needed an extra 5% from oil revenue must be crying as well 😂
 
ranny wa klist said:
The oil crisis started even before corona. Russia and the UAE failed to agree on production quantity leading to each upping the other in production. The lower demand due to the Chinese plague just exacerbated the issue
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hivi ndio story inaendaga by the time its corrected, people are already fighting!
***the disagreement was between Russia and KSA(Saudi)
 
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