Expect oil to rebound sooner than you think
With the Bank of Canada decision to cut interest rates in leu of the falling price of oil many expect Alberta to be in dire straits for years to come. In my opinion low prices will only increase demand as we have seen in recent years developing countries such as China and India, and Africa are starting to drive more and consume energy and low prices at the pumps will only increase that trend. I expect oil to rise sharply later this year, or even as soon as this summer. The media has already made a field day of falling real estate prices in Alberta, however I only think it may slightly cool an overheated real estate market, therefore expect some buying opportunities as people panic and sell their assets too early.
