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Old 01-30-2016, 08:00 AM   #1 (permalink)
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I hadn't been paying too much attention to it but seems it's pretty low right now.

2 Questions?

Anyone have insight as to why?

Anyone converting a few hundred USD for when it goes back up?
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Old 01-30-2016, 09:50 AM   #2 (permalink)
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Answer to #1 is in some post in here:
https://www.mcarterbrown.com/forums/d...uestion-2.html

#2 not exactly going to go back high fast.
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Old 01-30-2016, 12:01 PM   #3 (permalink)
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I'm going to guess there's probably a complex political reason that's very debatable. But Canadians seem to be more pragmatic about thier politics then Americans.

I say start hedging on 50 gallon drums of maple syrup! If the CAD doesn't recover at least you can have pancakes.
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Old 01-30-2016, 01:28 PM   #4 (permalink)
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I'm going to guess there's probably a complex political reason that's very debatable. But Canadians seem to be more pragmatic about thier politics then Americans.

I say start hedging on 50 gallon drums of maple syrup! If the CAD doesn't recover at least you can have pancakes.
There is a very simple political reason. But I won't get into it for obvious reasons. The a-political tldr of it is that our economy was tied almost entirely to the price of oil. With the major consumer economies (China) collapsing and groups (such as ISIS) selling their oil at bargain prices and flooding the market the price of oil has plummeted. Thus our oil exports have plummeted in value. To compound the issue extraction of oil in Canada is a relatively costly venture due to how the oil is found, thus with the falling oil prices and increased supply vs demand, the Canadian oil projects were the first to get cut. This also means a ton of people lost their jobs and are now defaulting on their huge loans and not contributing to the economy (buying stuff).

I believe the recovery rate will be proportional to how much the government invests in restarting and diversifying the economy and/or how quickly everyone else is going to recover and start buying oil from us again.

If you live in the US for the sake of the Canadian economy please start to drive your hummers again. Maybe if you burn enough petroleum products there will be enough demand for your oil companies to restart their Canadian ventures.
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