Oil-price drop impact on Canada lessened thanks to foreign ownership

Business | 207523 hits | May 31 7:56 pm | Posted by: andyt

An internal memo at Finance Canada says foreigners own between 40 and 50 per cent of the energy sector, a level higher than reported by StatsCan. And that means Canada's economy was partially shielded from the impact of dropping oil prices because foreign

Comments

by andyt
Mon Jun 01, 2015 3:02 am
Always a silver lining.
by martin14
Mon Jun 01, 2015 4:26 am
That's the most stupid 'silver lining' I have ever seen.

Mind you, CBC writing about business, inviting the Dippers to comment about business,

you are bound to get really special levels of stupidity.
by andyt
Mon Jun 01, 2015 4:59 am
Funny, I thought it was Finance Canada that said it and CBC just reported it.

"As a result, the potential negative wealth effects of lower oil prices on consumption may be considerably less than might appear," says the memo for Paul Rochon, deputy minister of finance.

Of course if that's true, wouldn't the benefits of the high oil prices we had previously have been considerably less than might have appeared too? Maybe all along when they extolled foreign ownership, low oil prices is what they were thinking of.

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