Doesn't look like loonie is gonna lose steam anytime soon..
 

Sometimes it sucks to have our economy linked to oil. Wonder how long before Bush invades? :)


"Canada's oil production will rise to at least 3.3 million barrels a day by 2010, according to CAPP estimates, from 2.6 million now coming out of the ground. Production from the oilsands is expected to double to two million barrels, while conventional production is seen to stay flat at one million barrels from Western Canada and decline to about 250,000 from Newfoundland's offshore.

The jump will lift Canada from the ninth largest oil producer in the world to seventh, after Saudi Arabia, Russia, the United States, Iran, China and Mexico, and ahead of Norway and Venezuela. Five years after that, in 2015, Canada is expected to rise further to fourth spot, moving ahead of Iran, China and Mexico, as oilsands volumes expand to an estimated three million barrels a day.

On the natural gas front, Canadian production is expected to rise as much as 20% to 20 billion cubic feet a day over the same period, from the current 17 billion cubic feet, firming up Canada's rank as the world's No. 3 natural gas producer after Russia and the United States, according to industry estimates. Most of the new production is expected to come from coalbed methane and the Arctic, assuming the Mackenzie gas pipeline has been completed."


http://www.canada.com/nationalpost/f...d876e8&k=21603

Huh? Who is loonie?

Canadian dollar? :)

It won't be long before I'm getting $0.90CAD for every $1US. :(

Oil Wars are sooo cool.

Invade is such a bad word, Bush would refer to it as liberating us :)
WG

i remember the day when 1$ was 1.578 i was profiting from my checks. now my sponsors might as well pay me in candian funds. cause usd is the same as candian almost.

:1orglaugh

So true!

I know it licks balls bigtime :(

Yep..when the loonie took off (aka the US dollar tanked) we lost something like 28% off our bottom line in a few months.. it's ridiculous :(

The march is already on to liberate you. thats why we are sending all the guns there.

Time to start looking for sponsors who pay in euros, lol.
WG

The Economist says the Canadian dollar will hit 94 cents U.S. in 2006

$5000 usd is $5818 can

use to be $7890 can

big diff :)

You're telling me, this is the quote I got from my forex guy this morning:

At this moment the rate would have been $ 1.1600 = $ 68,965.52 USD to receive $80,000.00 CAD.

This is the worst rate I have seen since I can remember.
WG

Hear, hear!

Ah those good old days. My last cheque got converted at 1.13 and the teller girl couldn't figure out why my eyes nearly popped out.

:( :( :( :(
IT sucks big time. If it were 1.5X still id be a rich man.

Having friends working in banks, I always had good rates. I remember the peak of it at over 1.60 Alas those days are gone.

Interestingly -
Feb 25/2005 the exchange rate for me was at 1.22435
Apr 28/2005 had looked like it was going to start climbing again: 1.2300
Dec 28/2005 the exchange rate for me was at 1.1499500

I hope 2006 will 'help' us a bit eheheh

Soon we will be able to buy the United States.

And sell it to North Korea for 5 dolla.