Canada is ground zero for ‘one of the fastest and most dramatic oil price drops in history’

Tuesday, April 7, 2015
By Paul Martin

JIM RICKARDS
BusinessInsider.com
APR. 7, 2015

Canada is beset by the double decline of energy and its currency. The energy price collapse and the currency wars are global phenomena, but Canada is ground zero for both because of its heavy reliance on energy production and the aggressive actions of its central bank.

This story has not been a good one for U.S. investors in Canadian stocks over the past six months. But now may be the time to take a look at some attractively priced opportunities in fundamentally strong companies and a solid economy.

The energy story is well-known. Prices for West Texas Intermediate crude oil, an important benchmark, fell from $100 per barrel last July to about $55 per barrel recently, after hitting an interim low of about $45 per barrel in January.

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