Our View: Double edged sword

Canada may have invested beyond its means in an oil boom that has come to a crude halt.

Canada may have invested beyond its means in an oil boom that has come to a crude halt. Sure, the cheaper pump price has a direct impact for consumers who will have more disposable income. But as a result are we spending this money on imported goods? If so, this may eventually lead to more of our hard earned dollars being shipped off shore in exchange for the perishing and disposable products we allow in.

In the short term, this drop in gas prices may directly be good for Castlegar consumer but why have prices for other goods and services not followed suit and also decreased? Or will they decrease and will that be the beginning of the deflation period for our country?

We have already seen the loonie shrink in value. Will the cost of imported consumer goods increase as the dollar weakens?

With cheaper gas prices, will people use more of this fleeting resource? Will investment into renewable resources be crippled and take longer to develop? Will we become more reliant on oil as a result as this price crash?

Sure it is not all doom and gloom having a weaker dollar; we can market our destination to the U.S. who is just down the road but do we have the infrastructure and tourism product to take advantage of our weak loonie now on the volume required to sustain our shrinking disposal incomes?

 

If saving at the pump is really that appealing to us then why have we not become less dependent on our vehicles?

 

 

Just Posted

Castlegar’s Waterline property purchased; owners to protect it for rock climbers

New owners plan to subdivide, sell bluffs to recreational climbing group

Feds, B.C. to expand Darkwoods Conservation area

New funding allows the national land trust to add some 7,900 hectares to the Darkwoods Conservation Area

Good fencing makes good neighbours— especially when your neighbours are bears

Workshop in Pass Creek this weekend to promote benefits of proper protection for livestock

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

Columbia Avenue paving scheduled for weekend

Paving on Castlegar’s main thoroughfare will take place in a few days, weather permitting.

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

B.C. Realtor suspended after helping intern forge note about sick grandma

Vancouver real estate agent Jaideep Singh Puri has to pay fine, take ethics course

Offensive Facebook post by Okanagan Conservative riding sparks outrage

Post taken down after Conservative MP in neighbouring riding condemns it and demands removal

John Horgan shrugs off low turnout, change to referendum option

‘No’ proportional representation group says voting should be extended

Two more government pot shops to open in Kamloops

Two private applications are also in the queue to come before city council by the end of the year

2 B.C. men charged after allegedly stealing $1,400 worth of butter

The two men, ages 23 and 25, are facing charges of theft under $5,000, Coquitlam police said

Invasive fire ants join the tourist swarms at Hawaii Volcano National Park

Invasive species found at popular tourist destination

Ten-year sentence for man convicted of B.C. belt-strangling death

Shayne McGenn guilty of manslaughter in 2016 death of David Delaney, 63

Roy Clark, country singer, ‘Hee Haw’ star, has died

Guitar virtuoso died because of complications from pneumonia at home in Tulsa, Okla. He was 85.

Most Read