Author Topic: No llores por mí Alberta  (Read 34749 times)

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Offline Queefer Sutherland

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Re: No llores por mí Alberta
« Reply #780 on: October 19, 2020, 11:48:59 pm »
Excuse me! The reason why oil companies have become far less profitable over the last 5 years, even if that's not exactly correct, has everything to do with supply and demand.

Have alternative sources of energy had an influence on demand?

Yes I said it has to do with supply and demand.

Which traditionally oil-based sources of energy has switched to alternative sources in the last 5 years to any significant degree?  Certainly not cars, beyond the rare Telsa i see.

Everything i've read says its more of a supply issue, with more supply now.
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Offline Queefer Sutherland

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Re: No llores por mí Alberta
« Reply #781 on: October 19, 2020, 11:52:59 pm »
A high Canadian dollar relative to our number one customer isn't an economic positive.

It's good for importers and bad for exporters.  It's basically a wash.

What it actually means is how well our economy is doing relative to the US. 
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Offline JMT

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Re: No llores por mí Alberta
« Reply #782 on: October 20, 2020, 10:58:32 am »
It's good for importers and bad for exporters.  It's basically a wash.

What it actually means is how well our economy is doing relative to the US.

No, it actually doesn’t mean that at all.

Offline wilber

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Re: No llores por mí Alberta
« Reply #783 on: October 20, 2020, 11:39:07 am »
No, it actually doesn’t mean that at all.

Actually it does.
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Offline Montgomery

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Re: No llores por mí Alberta
« Reply #784 on: October 20, 2020, 11:50:11 am »
It's good for importers and bad for exporters.  It's basically a wash.

What it actually means is how well our economy is doing relative to the US.

You do understand that there are pros and cons on running a deficit?
It was believed afterward that the man was a lunatic, because there was no sense in what he said. ~M.T.
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Offline JMT

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Re: No llores por mí Alberta
« Reply #785 on: October 20, 2020, 12:21:10 pm »
Actually it does.

No - foreign exchange rates are complex, and are very loosely (at best) tied to economic potential. In times of global upheaval, like now, people rush to the US dollar as it is the global safe haven currency. The Canadian economy has been outpacing most of the G7 pre COVID and is expected to continue that trend, yet that isn't reflected in the value of the EURO vs the CAD.

Offline wilber

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Re: No llores por mí Alberta
« Reply #786 on: October 20, 2020, 12:47:23 pm »
No - foreign exchange rates are complex, and are very loosely (at best) tied to economic potential. In times of global upheaval, like now, people rush to the US dollar as it is the global safe haven currency. The Canadian economy has been outpacing most of the G7 pre COVID and is expected to continue that trend, yet that isn't reflected in the value of the EURO vs the CAD.


The CAD is up against the USD, EURO and Pound today.  When oil prices were above $100, our dollar was above par with the US. It is not the only reason but it has very much to do with the state of our economy vs the US.
"Never trust a man without a single redeeming vice" WSC

Offline Montgomery

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Re: No llores por mí Alberta
« Reply #787 on: October 20, 2020, 01:01:29 pm »

The CAD is up against the USD, EURO and Pound today.  When oil prices were above $100, our dollar was above par with the US. It is not the only reason but it has very much to do with the state of our economy vs the US.

Really wilbur? Can you provide the date on which we saw par for the CAD? I have a chart that records crude along with world exchange rates. I'm not disputing what you've said, just making an attempt to include you in this conversation.

Here's mine for your convenience: http://fx.sauder.ubc.ca/data.html
« Last Edit: October 20, 2020, 01:03:17 pm by Montgomery »
It was believed afterward that the man was a lunatic, because there was no sense in what he said. ~M.T.

Offline wilber

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Re: No llores por mí Alberta
« Reply #788 on: October 20, 2020, 01:07:36 pm »
Really wilbur? Can you provide the date on which we saw par for the CAD? I have a chart that records crude along with world exchange rates. I'm not disputing what you've said, just making an attempt to include you in this conversation.

Here's mine for your convenience: http://fx.sauder.ubc.ca/data.html

https://www.cclgroup.com/docs/default-source/en/en-strategic-exchange/brief-history-of-the-canadian-dollar.pdf?sfvrsn=ecc82fc8_4
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Offline Squidward von Squidderson

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Re: No llores por mí Alberta
« Reply #789 on: October 20, 2020, 02:23:42 pm »

The CAD is up against the USD, EURO and Pound today.  When oil prices were above $100, our dollar was above par with the US. It is not the only reason but it has very much to do with the state of our economy vs the US.

No, the dollar increases, not so much with the economy on a grand scale, but on the price of oil.   We have a petro-currency.

I think you’re changing the story to fit your preconceived narrative.  Dollar high = economy good = Con gov’t.  Dollar low = economy bad = Trudeau.

https://www.investopedia.com/articles/investing/102015/currencies-most-affected-falling-oil-prices.asp

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Offline Montgomery

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Re: No llores por mí Alberta
« Reply #790 on: October 20, 2020, 03:27:26 pm »
CAD went higher than USD in Feb 2011 and remained higher until Aug 2011.

Brent crude was 89.54 US on Feb 1 of 2011 and was 88.81 US on Aug 31, 2011.

CAD reached $1.13 on May1, 2011.
It was believed afterward that the man was a lunatic, because there was no sense in what he said. ~M.T.

Offline wilber

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Re: No llores por mí Alberta
« Reply #791 on: October 20, 2020, 03:41:14 pm »
No, the dollar increases, not so much with the economy on a grand scale, but on the price of oil.   We have a petro-currency.

I think you’re changing the story to fit your preconceived narrative.  Dollar high = economy good = Con gov’t.  Dollar low = economy bad = Trudeau.

https://www.investopedia.com/articles/investing/102015/currencies-most-affected-falling-oil-prices.asp



Correct. Oil is Canada's biggest export, 22% of total exports worth almost 100 billion in 2019. When the price goes up, it is good for Canada and the dollar goes up.
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Offline Squidward von Squidderson

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Re: No llores por mí Alberta
« Reply #792 on: October 20, 2020, 04:13:50 pm »
Correct. Oil is Canada's biggest export, 22% of total exports worth almost 100 billion in 2019. When the price goes up, it is good for Canada and the dollar goes up.

Price of oil can be low, our economy can be doing well and the dollar can still be low. 

So, the value of our currency is not based on a booming economy, as you claimed it was....   it’s based on the price of oil.
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Offline wilber

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Re: No llores por mí Alberta
« Reply #793 on: October 20, 2020, 04:42:14 pm »
Price of oil can be low, our economy can be doing well and the dollar can still be low. 

So, the value of our currency is not based on a booming economy, as you claimed it was....   it’s based on the price of oil.

22% of our exports worth almost 100 billion is good for our economy. I don't get this attitude that we will all be better off if we are poorer, which is exactly what we are if our money is worth less.
"Never trust a man without a single redeeming vice" WSC

Offline Squidward von Squidderson

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Re: No llores por mí Alberta
« Reply #794 on: October 20, 2020, 05:35:12 pm »
22% of our exports worth almost 100 billion is good for our economy. I don't get this attitude that we will all be better off if we are poorer, which is exactly what we are if our money is worth less.

Nonsense. The dollar can be at 70 cents with full employment and the economy going full beans. Not sure where you get the idea that the dollar has to be on par to have a robust economy. 

Plus, no one said anything about it being better if we’re poorer.  You made up that strawman.
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