What about the future? Can we be optimistic about the future? There are clearly some factors adversely affecting our growth rate which we can never change. Most obviously, we will always be thousands of kilometres from our major markets, and it will take years before the high protection impeding our agricultural exports is eliminated.
What’s hot? Oil One of the most important forces powering Canada’s economy today is the long-term strength in global prices for resources. For Canada, oil stands out. We have the world’s thirdlargest reserves of crude oil. And we’re number one in potash production. This means money in our pockets. In technical terms, it is a positive terms-of-trade shock. In non-technical terms, it’s a gift.