Oil Price Funhouse Mirrors
Having a strong Canadian dollar makes for great cross-border shopping but if you're in the oil and gas business it means you're being squeezed.
Your costs are fixed (or more likely increasing in C$) while you are getting paid in a currency that is dropping in value. I'll still take a US dollar over seashells or shiny rocks (excepting gold and silver of course) but the world is paying close attention to the currency markets and commodity prices.
Paul Kedrosky illustrates how current crude price increases are, in part, an artifact of the collapsing U.S. dollar.
Gary Dorsch describes the global currency games and oil
The Epic Battle over Crude Oil and the US$