The price of oil has been dropping over the past few weeks amid turmoil in the Middle East. Being a cornerstone of the economy in the Southeast, there are questions as to the impact it will have.
Golden West Radio Business Commentator Paul Martin says the Canadian Dollar has been slipping as well. "As a consequence, the drop in oil prices is not as severe because it's in U.S. dollars and we get more U.S. dollars as the Canadian Dollar is worth less, so it's a mitigating factor."
Martin added the bigger concern here in Southeast Saskatchewan is the ability to get the product to market. As well, the reduction in prices isn't having an impact on decisions being made by oil producers or government at this time.