RE:China discovers worlds largest oil depositTradinghands wrote: This 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?
The ever growing number of people in Canada that are living in tent cities , living in their cars , and are depending on food banks for their survival , are already ecperiencing a "recession".