KeatsConnelly Cross-Border Weekly Best of the Web 2014-12-5

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s selection of articles focuses heavily on strains on the Canadian economy with particular emphasis on the impact of falling oil prices.

As oil skids toward $65, companies are forced to recalculate (http://www.theglobeandmail.com/) – After five months of skidding crude prices, energy players and politicians who depend on oil and gas revenue are finally warning a slowdown in Canada’s oil patch is on the way – one that will crimp growth and the economy. The push came this week after OPEC decided to keep its production at 30 million barrels a day…

Oil price plunge raises petrostate debate (http://www.calgaryherald.com/) – Calling the Canadian dollar a “petrodollar” certainly makes sense if you mean the fact that the latest batch of bank notes are made out of polymer plastic, derived from petroleum products. But more than ever, economists are split on whether or not the term makes sense any longer in describing the correlation between the value of our loonie and the price of oil. If it is a petrodollar, “it isn’t a very good petrodollar,” said Jack Mintz, director of the University of Calgary’s School of Public Policy. “There’s some impact that energy prices have on the dollar,” he said. But he added the correlation between oil prices — and all natural resource commodity prices — has actually decreased in recent years…

After a record run of profits, Canada’s Big Six banks brace for shift (http://www.theglobeandmail.com/) – Canadian banks’ record run of profits is finally showing signs of cooling as the number of high growth businesses dwindle, prompting the country’s largest lenders to prepare for a much more challenging year ahead. The Big Six banks report their fourth-quarter earnings this week, starting with Bank of Montreal on Tuesday…

Come back next week for more interesting news and articles. Enjoy your weekend!

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