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The downfall of capitalism: it can fail...if there is no safety net, the economy of a country can go into ruins. Th Canadian economy is not really suffering. I hope more trades overseas are developped in canada.
That's not science fiction. Trapped in limestone up to 200 feet thick in the two Rocky Mountain states is enough so-called shale oil to rival OPEC and supply the U.S. for a century.
Exxon Mobil Corp. and Chevron Corp., the two biggest U.S. energy companies, and Royal Dutch Shell Plc are spending $100 million a year testing new methods to separate the oil from the stone for as little as $30 a barrel. A growing number of industry executives and analysts say new technology and persistently high prices make the idea feasible.
"The breakthrough is that now the oil companies have a way of getting this oil out of the ground without the massive energy and manpower costs that killed these projects in the 1970s," said Pete Stark, an analyst at IHS Inc., an Englewood, Colo., research firm. "All the shale rocks in the world are going to be revisited now to see how much oil they contain."
The U.S. imports two-thirds of its oil, spending $300 billion a year,
or 40 percent of the record trade deficit. Every $10 increase in a
barrel of crude costs an American household $700 a year, according to
the Rand Corp., founded in 1946 to provide research for the U.S.
military. Oil prices have risen 63 percent since 2004, and higher fuel
costs have slowed growth in the world's largest economy to the lowest
in four years.
http://www.deseretnews.com/dn/view/0,1249,660227927,00.html
I mean the Bear collapse
http://research.cibcwm.com/economic_public/download/sfeb08.pdf
its 12 pages, and pretty technical.. but it you have a background in finance/economics or are just smart you will probably get it.
there are lots of nice graphs you can look at for cliff notes to get the idea.