{"id":3011,"date":"2014-12-15T07:16:52","date_gmt":"2014-12-15T12:16:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3011"},"modified":"2014-12-15T07:16:52","modified_gmt":"2014-12-15T12:16:52","slug":"joe-oliver-looks-on-the-bright-side-of-low-oil-prices","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3011","title":{"rendered":"Joe Oliver Looks On The Bright Side Of Low Oil Prices"},"content":{"rendered":"<p><a href=\"http:\/\/www.huffingtonpost.ca\/2014\/12\/14\/oil-prices-joe-oliver_n_6324660.html\">Joe Oliver Looks On The Bright Side Of Low Oil Prices<\/a>.<\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">Increased consumer spending and additional money for savings are two of the benefits to lower oil prices, federal Finance Minister Joe Oliver has told CBC News, sounding a reassuring note about how plummeting oil prices will affect the Canadian economy.<\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">Oil prices have dropped dramatically\u00a0this fall, with the West Texas Intermediate price\u00a0dropping below $58 US on Friday for the first time in more than\u00a0five years.<\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">The cost for a barrel of oil is more than $10 less than the estimate used by\u00a0finance officials to put together the department&#8217;s projections in Oliver&#8217;s fall 2014 economic update last month.<\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\">The prices are also far below the estimates used by finance officials nearly two years ago, when the 2013 budget predicted a barrel of oil would be worth\u00a0$96\u00a0in 2015\u00a0and trending up to\u00a0$97 a barrel\u00a0in 2017.<\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"box-sizing: border-box; direction: ltr; font-family: inherit; font-weight: normal; font-size: 1em; line-height: 1.6; text-rendering: optimizelegibility; vertical-align: baseline; font: normal normal normal 15px\/21px Georgia, Century, Times, serif; color: #333333; padding: 0px; margin: 0px 0px 15px 0px; border: 0px initial initial;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joe Oliver Looks On The Bright Side Of Low Oil Prices. Increased consumer spending and additional money for savings are two of the benefits to lower oil prices, federal Finance Minister Joe Oliver has told CBC News, sounding a reassuring note about how plummeting oil prices will affect the Canadian economy. Oil prices have dropped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1924,162,1775,702],"class_list":["post-3011","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-budget-surplus","tag-consumption","tag-oil-price-collapse","tag-savings"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3011"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3011\/revisions"}],"predecessor-version":[{"id":3012,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3011\/revisions\/3012"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}