Thats not the definition of a petrodollar. The us currency is called a petrodollar because its required to be used when purchasing or selling oil on the global market. This creates demand for the dollar and requires countries to hold large quantities of it for such purchases.
CAD is not a petrodollar because its not needed for oil purchases, nor are people holding large quantities of it.
Im not even gonna go into the whole "USAs last 30 years of conflicts were all because of threats on Petrodollar" rabbit hole.
As much as we ##### about Alberta and the single minded economy i didnt see Liberals in Ontario do anything but continue to slaughter Ontario manufacturing sector.
We need to face the facts, were more and more service based industry, selling and servicing products manufactures elsewhere as we keep shipping our currency to other countries and bring in debt.
The ONLY reason US is doing well is the world reserve currency and petrodollar status. ALAS we tried playing "follow the Joneses" like Soviets during the Cold war and the rest of first world countries did in the last 30 years. Massive debt and deficits that will haunt our ####ing grandchildren.
Hey, look on the bright side, if you're one of those guys waiting for our housing to crash so you can buy a home, prime time! Other than you wont be able to afford the mortgage once the interest rates start rising.
Also, Albertas kijiji should be flooded with cheap and repossessed toys! Another bonus!
Because our dollar is a "petrodollar", our economy is almost entirely dependent on the price of oil. Our fate is essentially in Saudi hands. If( and I think it inevitable) our housing market crashes, we are in for a bad recession. I think the previous gov't was extremely short sighted to think you could safely run an entire country on the resources of one province, especially in such a volatile world climate. I am a conservative btw. I only hope when the chit hits the fan this time, gov't bails out the people rather than the banks. CA, I'm sure your 2016 prices will still be quite reasonable .