Oil Production- OPEC -Learn From Canada

Canada is one of the largest oil producers in the world. When oil prices fall, they lose money. Yet Canada is at the forefront of trying to get off of having an economy based on oil production. If there is one lesson to be taken from the over $4 a gallon last summer is this, diversification. OPEC needs to learn a few lessons from Canada, mainly, diversify.

Countries all over the world are trying to switch to renewable and sustainable energy as quickly as possible. Canada is on the top of the list. A few weeks ago Ontario announced the determination to be the first oil free province, with the rest to follow.

As OPEC announcing that they will be cutting oil production to push prices back up, it seems that they might not have learned about this switchover. It seems counter intuitive to push prices up on a world economy that is in very poor health.

Every company is trying to cut prices, give bargains, get people to buy there products. While we may not have a choice of filling up our cars, we can certainly cut the amount of driving that we do.

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