Canadian Policy-Makers Weigh Wide-Ranging Effects of Plunging Oil Prices

By Panetta, Alexander | The Canadian Press, October 10, 2014 | Go to article overview

Canadian Policy-Makers Weigh Wide-Ranging Effects of Plunging Oil Prices


Panetta, Alexander, The Canadian Press


Canada weighs impact of plunging oil prices

--

WASHINGTON - Canadian policy-makers are trying to gauge the wide-ranging effect of plunging oil prices --whose impact on the national economy could be felt everywhere from the loonie, to imports and exports, government revenues and consumer spending.

The Bank of Canada says its monetary policy report in two weeks will attempt to measure the effect of oil prices, which are down nearly one-quarter since last year and which briefly dipped Friday below their lowest level in nearly four years.

Governor Stephen Poloz told a news conference at the global financial meetings in Washington that it's not easy to assess, given the need to weigh all the negative factors against the positives.

He noted that lower prices also mean higher disposable income for consumers, and said the bank's upcoming monetary report will attempt to assess all those variables.

Then there's the question of how long this trend will last.

"There's a question mark about whether it's a permanent decline, or not. That requires a judgment," Poloz told reporters. "It's not an easy analysis, because there's the consumers. Lower prices, perhaps. But that's higher incomes. The models are intended to work all that out. But it's very hard to do without a full general equilibrium assessment. So we'll save that for a couple of weeks."

A BMO bank analysis Friday concluded the trend could be particularly painful for oil-producing provinces, with Alberta seeing a three per cent dent in its provincial government revenue projections. The report titled, "Life With $85 Oil," concluded that the positives of cheap oil would be clearly outweighed by the negatives in the oil-producing provinces.

It noted that Alberta and Saskatchewan's governments had made their 2014-15 budget projections based on revenues from oil priced in the high 90s on the West Texas Intermediate benchmark, while Newfoundland had based its revenue projections on oil at $105 using the international Brent standard. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Canadian Policy-Makers Weigh Wide-Ranging Effects of Plunging Oil Prices
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.