Global Instability is causing Crude price levels to rise and rise. US and IRAN deals being a big one, but Canada is not immune.
Crude prices hit above $70 US per barrel for the first time in a long time. November 2014, actually.
Obviously there are many factors in the price, but a big one is the expectation that US President Donald Trump will abandon the 2015 Iran Nuclear deal. This deal actually allowed Iran to EXPORT more crude.
Canada take note! – I mentioned the other day about the US becoming a net-EXPORTER of oil by 2020 if things go to plan!
Canada exporter less and less is DEFINITELY the BEST CASE SCENARIO for the US.
MAGA is right, Mr. Trump.
And Canadian’s as always, are here to help you achieve your dreams! #SAD
In true-to-form fashion… he’s going to make the announcement a big show… and we’re tuning in!
I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm.
— Donald J. Trump (@realDonaldTrump) May 7, 2018
So, Canadian’s – as we continue to in-fight over what we “feel is right” for the world, and our own country.. best believe the rest of the world isn’t standing still!
With oil prices getting higher and higher, we can sit and watch our neighbors to the south continue to ramp up production, and make the rich that much richer.
Meanwhile, the irony is that Eastern Canada continues to IMPORT this foreign oil at global prices, and B.C. residents continue to drive to the United States to protest their OVER-PRICED gasoline…
Driving to the US is a symbol of pride for many Vancouver resident’s I have spoken to. An irony not lost on me.
How this US President is out-foxing the vocal minority of protesters is beyond me, but he is.
And the Canadian Economy will look a lot different if things continue to go “as planned”.
Market Monday, folks!