On Monday, the price of West Texas Intermediate oil — the US benchmark price — traded below $53.00 a barrel for the first time since May 2009, bringing WTI’s decline to nearly 50% from its June highs. And as the price of oil has declined, many have asked what the “breakeven” price is for various oil projects around the world.
Yes my Canadian friends we are under water $71.00, But the good new is that a lower loonie is good for our economy!
