Originally Posted by bwhhisc
Canada...the new #1 oil supplier to the USA.
Now that oil is over $100 they are full throttle mining the oil sands.
Things are about to get started back up with oil shale in the US.
IMO watch for lots of spending into new technology now that oil ain't gonna be cheaper for a few decades.
Maybe but a lot of industrial operations that are not based on the frugal use of resources are going under. There is going to be a massive scaling down of some operations and the US internal air carriers are likely to take some of the brunt of this.
Car manufacturers that are not geared up to produce fuel efficient cars are really going to continue to struggle. Toyota and other Japanese companies are light years ahead of the US on both fuel economy and alternative technologies.
It is impossible for the US to justify the amount of the World resources it has been squandering when three quarters of its economy is about retail and much of that is about buying imported goods. The US has some strengths especially in the IT sector but these are not currently big enough to carry the dead weight of the rest of the economy. Wall Street and Finance has been a huge money spinner, but that is and will continue to take a hammering. They just cannot hang all their clients out to dry and expect them to come back with fresh business.