October 18, 2015

THE OIL CURSE:

Canadians gripped by close election battle (Anna Nicolaou, 10/18/15, Financial Times)

Canada, the biggest oil exporter in the G7, has been hit by the dive in commodity prices, prompting the Bank of Canada to cut interest rates twice this year and dragging its economy into five consecutive months of contraction. Mr Harper, who was commended for his economic credentials after Canada emerged from the 2008 financial crisis relatively unscathed, saw his pro-oil policies come under attack as he kick-started an election race in August.

In a campaign in which two-thirds of the population appear to want the incumbent party out, success for the Conservatives' opponents has hinged on which candidate could make themselves the face of change, with many voters calling for "anything but Harper".

Basing an economy on Malthusianism wasn't sensible.


Posted by at October 18, 2015 11:33 AM
  

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