China discovers worlds largest oil depositThis will certainly change the dependence of US, Russia, Canada and Middle East and every other producer of oil feeding China and will eventually saturate the global oil supply lowering the price of oil. With the US producing oil at higher rates and Canada adding another 500,000 bpd when their pipeline happens with the current state of most countries in or close to recession will hurt. Both Canada and US are in no hurry to cut interest rates so will that eventually push Canada and US towards a recession?