Falling oil price skewers Stephen Harper’s economic plan-YAY!

[riverbendviewgal]

ops. There go the tarsands.

For this government, Alberta’s oilsands were the key to Canada’s economic future. But it rested on one thin reed: an oil price high enough to cover the cost of extracting bitumen from the tarsands. Now, with oil prices expected to remain low for the indefinite future, the entire project looks increasingly iffy, writes Thomas Walkom.

The dramatic slide in oil prices has underscored the fragility of Stephen Harper’s entire resource-based approach to the economy.
For this government, Alberta’s oilsands were the key to Canada’s economic future.
Alberta heavy oil would be sold to the world at premium prices. Spin-offs would provide jobs for Canadians across the country.
It was a coherent vision. But it rested on one thin reed: an oil price high enough to cover the cost of extracting bitumen from the tarsands.
Now, with oil prices expected to remain low for the indefinite future, the entire project looks increasingly iffy.
That became glaringly obvious in the stock markets late this week as investors bailed out of energy companies.








http://www.thestar.com/news/canada/2014/11/28/falling_oil_price_skewers_stephen_harpers_economic_plan_walkom.html

[alcina]

1. Not to worry

The tax cuts are safe. He can make up the shortfall by gutting our bloated public and social services. (Where's that sarcasm label....?)

[onwardsand upwards]

2. Happy to oblige ...

(follow the dots ...)

PS: I wish it was simple sarcasm. It's probably our destiny ...