Is Canada the wild card?
Oct. 1st, 2007 by AlIt’s been some time since oil has broken 80USD a barrel, it will not be too far off in thinking that it will hit 100usd.When one look at the peak oil production at global scale,the price of oil ever increasing seems coming more real.
If USA ever think of attacking Iran, price will definitley shoot up to 130USD a barrel .Talk about being in harmsway for the civilians pockets.It’s definitely not positive for most of us who travel daily to work and import their food from overseas.
Down here in Singapore, our bus fares have already been adjusted this month,public transportation is a norm cause the high price of owning private vehicles in our island state.
I believe small economies survival like ours depends on big countries like China and USA management of their energy resources.In China now, there’s an exercise that one should plant trees depending on how much carbon one use for travelling planes or cars.
The 3 top exporters of oil to USA is nigeria ,mexico and canada as of today.One may think USA imported the most oil form mid east, it may be so in the past but not the recent years.OPEC petroleum imports has been dropping since the 1960’s.
Canada seems to be the best option for the energy sources for USA, not forgetting China is going to move into the act too investing in the oil sand region.Nigeria and mexico are beset with problems so they are out for now.
The last 5 years have seen a spike in 25% in petroleum imports from Canada to USA.This has prompted oil companies to realise the potential in canada as a source of energy to USA.The next battle for energy will be fought in Canada and this will not be fought with guns
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