An interesting cluster of stories has appeared in this morning’s press. If you’re a Canadian, see if you can connect the dots.
From the International Energy Agency: “Both global oil demand and supply are now close to new, historically significant peaks at 100 million barrels per day, and neither show signs of ceasing to grow any time soon.”
From the Globe and Mail: “The price of Western Canadian Select crude fell to a record US$52.50 per barrel below the price of Northern American benchmark West Texas Intermediate in trading Thursday. A shortage of pipeline capacity and refinery maintenance have combined to cause a growing glut.” The current spot price for WCS crude is $19 per barrel.
From iPolitics: “Western Canadian grain farmers are warning the federal agriculture minister they may not be able to get this year’s multibillion-dollar crop in the bin because of continued snowfall in much of the Prairies.”
This will definitely be on the exam.