Studentfirstname Studentlastname Professor Firstname Lastname Business 123 28 November 2009 Rising Oil Prices and the Canadian Economy The rising oil prices are part of the reason that there is a global economic downturn and Canada has been swept up in this downward spiral. Canada may be better off than some countries because it has its own oil resources. However, the oil available in Canada comes primarily from the oil sands in Alberta. The method of extraction is very costly and it is also quite damaging to the environment. While the rising oil prices were breathing life into the oil sands projects in Canada, the resulting price drop absolutely drove a dagger into the heart of the industry in places like Alberta. Even though oil prices...The end:
.....lusion. Canadians may just have to weather the storm a bit along the way as the economy may falter at times but it should always be able to regain its stature rapidly. The Canadian economy should rise again and probably quite soon. Works Cited "A sticky ending for the tar sands." Economist 390.8614 (2009): 40. Academic Search Premier. EBSCO. Web. 28 Nov. 2009. Cavallo, Michele "Oil Prices and Inflation. (Cover story)." FRBSF Economic Letter 2008.31 (2008): 1-3. Academic Search Premier. EBSCO. Web. 28 Nov. 2009. "Economic forecast." Country Report. Canada 10 (2008): 5-8. Academic Search Premier. EBSCO. Web. 28 Nov. 2009. Halas, Sarka "TAKING A BREATHER." Canadian Business 82.6 (2009): 59-61. Academic Search Premier. EBSCO. Web. 28 Nov. 2009.