[Newsbot]

Title: Loonie slips under 80 cents US, stocks tumble
Category: Business
Posted By: tritium
Date: 2008-10-22 07:59:31
Canadian

[tritium]

Canada's economy strong?!?

[RUEZ]

tritium tritium:

Canada's economy strong?!?

Yes. You remember the dollar under Chretien?

[mixedfarmer]

well they said a year of bad times all over, my friends company just closed and allot got layed off. HE is still working but only till they do some repairs

[tritium]

That's funny, there are lots of jobs still in Alberta.

[Regina]

tritium tritium:

That's funny, there are lots of jobs still in Alberta.

See how many jobs there are if oil goes down to $30 per barrel. If oil starts heading back up the dollar will rise as well. With OPEC producing less that may happen.

[mixedfarmer]

tritium tritium:

That's funny, there are lots of jobs still in Alberta.

any welding jobs? i am off for the winter i am selling my cows

[Robair]

It's expensive to get oil out of the tarsands. I'm wondering how far oil has to drop before the sands are no longer profitable.

[RUEZ]

Robair Robair:

It's expensive to get oil out of the tarsands. I'm wondering how far oil has to drop before the sands are no longer profitable.

I remember hearing that anything below $50 per barrel renders the oilsands unprofitable.

[dog77_1999]

Robair Robair:

It's expensive to get oil out of the tarsands. I'm wondering how far oil has to drop before the sands are no longer profitable.

$35-$40/barrel is what I have heard. You shouldn't worry too much as alot of projects won't come online years from now.

[bootlegga]

Robair Robair:

It's expensive to get oil out of the tarsands. I'm wondering how far oil has to drop before the sands are no longer profitable.

A friend who worked for Petro Canada told me they can produce it now for just under $25 / barrel, so they got some wiggle room still. However, it if did drop to $30, the $100 billion or so in future investment would disappear, causing a huge drop in Alberta's economy.