Oil prices dip: I only see this as a positive thing

Stand back.

I’m going to say something about the price of oil and the Canadian and US economy and things could get messy.

I just read that the price of oil sank below $60 US a barrel last Friday, and ‘sank’ sounds like a real negative term, yet I felt really positive.

[According to Oil Change (@ http://priceofoil.org/thepriceofoil/) the price is $59.89 US per barrel at this very second, so my feelings haven’t changed.)

Oil prices are down chiefly because of lower demand. Canada and US industries aren’t producing as many goods, though the word ‘goods’ is a relative term because not all goods are good for much.

I mean, how many ottomans, golf clubs, bicycles, cars, plastic items, etc. do we need to fill our houses and garages with (thus sending millions of tonnes of reusable materials to the wrecking yards or landfill sites) before we say... we should slow down... shopping is addictive... and often needless.

I know Canada is producing less stuff because our trade deficit is widening, i.e., we’re importing more goods than exporting.

Though the price of crude fell more than 10 per cent last week and created more pessimism about the economy (in some quarters, not mine) and the well-being of companies, my optimism grew - our excessive lifestyle might one day be a sustainable one.

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Messier times are ahead.

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