The low cost of gas these days might seem like a welcome change, but the drop in oil prices due to the coronavirus pandemic could be devastating if they stay low for some time, according to an instructor at one American university.
Rob Warren, a Manitoban who teaches market validation and competitive intelligence at the University of North Dakota, told 680 CJOB that the current situation impacts more than just the cost at the pumps. “You think about oil, not just Manitoba, Alberta, Saskatchewan… but you also have to take a look at the impact oil has on the entire Canadian economy,” he said. “The fact that we use it in so many things, from plastics to producing the feedstocks that go into fertilizers and things like that… if that particular