Canada’s privileged position

Being Prime Minister of Canada is a cakewalk.

That is because there is nothing so propitious politically as $100 a barrel oil — and an acrimonious and engaging presidential race in the United States — to skate onside the fractured population of Upper North America.


…The $100-a-barrel-oil climate, and commodity super-cycle that began in 2003, will continue to have ongoing, profound political consequences.

Canada’s federal indebtedness has shrunk dramatically and business is so good we are headed toward becoming a creditor nation, if we’re not already.

Canadian tax revenues are soaring; the currency has leaped, which helps many people as well as national pride. Unemployment is at record lows, even in depressed regions, as planeloads of unskilled and semi-skilled eastern Canadians get up and go to jobs in Alberta’s oilfields.

Financial Post