And around 2010-2013 it hovered around par, before tanking (and yes, I concede that the tanking might have been on purpose to make our exports look more attractive.) Our dollar might experience years of relative stability, but it can and does change.
and yes, I concede that the tanking might have been on purpose to make our exports look more attractive
Wasn't the case. At the beginning of 2014 the oil price was at $110 a barrel. One year later it was at $55. And the worth of our Canadian Dollar is strongly correlated to the oil price.
You can also see the oil price drop if you look at the unemployment numbers in Alberta. In the last two years of the Harper admin the unemployment rate in Alberta went from 4% to almost 8%. All because the oil price dropped over 50% in a year.
And around 2010-2013 it hovered around par, before tanking (and yes, I concede that the tanking might have been on purpose to make our exports look more attractive.) Our dollar might experience years of relative stability, but it can and does change.
Wasn't the case. At the beginning of 2014 the oil price was at $110 a barrel. One year later it was at $55. And the worth of our Canadian Dollar is strongly correlated to the oil price.
https://wernerantweiler.ca/blog/2015-04-01-a.jpg
You can also see the oil price drop if you look at the unemployment numbers in Alberta. In the last two years of the Harper admin the unemployment rate in Alberta went from 4% to almost 8%. All because the oil price dropped over 50% in a year.
Yep, all of a sudden a ton of our oil reserves became unprofitable to pull out of the ground. Really didn't have to do with much else.