Oil Price Forecasts and Inflation and Exchange Rates ($Cdn)
(As of April 30, 2008)
Light Crude Oil
Heavy & Medium Oil
Energy
WTI
Edmonton
Alberta
Hardisty
Hardisty
Cromer
Hardisty
Cost
Cost
Cushing
Par Price
Royalty
Heavy
Lloydblend
Medium
Bow River
Inflation
Inflation
Exchange
Exchange
Oklahoma*
40 API
Par Price
12 API
22.3 API
29.3 API
24.9 API
Rate
Rate
Rate
Rate
Year
$US/bbl
$/bbl
$/bbl
$/bbl
$/bbl
$/bbl
$/bbl
%/Yr
%/Yr
$US/$Cdn
$US/ŁUK
1997 Act
20.60
27.97
27.31
14.35
20.38
23.71
21.25
-6.9
1.6
0.722
1998 Act
14.40
20.39
24.29
9.41
13.29
16.95
14.63
-30.1
1.3
0.675
1999 Act
19.25
27.54
22.31
20.42
22.12
25.35
23.35
33.7
1.5
0.673
2000 Act
30.30
44.03
40.34
28.61
32.59
39.90
34.49
57.4
1.5
0.674
2001 Act
25.94
39.06
40.73
18.05
23.46
31.56
25.04
-14.4
2.0
0.646
2002 Act
26.09
40.12
35.41
27.58
30.59
35.46
31.85
0.6
2.7
0.637
1.502
2003 Act
31.14
43.23
40.76
27.39
31.16
37.53
33.00
19.4
2.5
0.716
1.635
2004 Act
41.42
52.91
47.22
30.40
36.18
45.72
37.98
33.0
1.3
0.770
1.833
2005 Act
56.46
69.29
66.79
34.35
42.79
57.36
45.62
36.3
1.6
0.826
1.817
2006 Act
66.09
73.30
71.33
43.32
50.30
62.35
51.54
17.1
1.5
0.882
1.841
2007 Act
72.27
77.06
75.09
44.77
51.93
65.36
53.16
9.4
1.5
0.935
2.002
2008 Est
104.84
104.36
100.66
68.50
76.13
90.94
77.89
45.1
0.2
0.998
1.993
2008 4mo Act
101.56
102.95
100.45
75.23
81.29
92.11
82.38
40.5
0.2
0.994
1.979
2008 8mo Est
106.48
105.07
100.77
65.14
73.55
90.36
75.65
47.3
1.8
1.000
2.000
2009
102.15
100.71
96.33
62.44
70.50
86.61
72.51
-2.6
2.0
1.000
2.000
2010
99.74
98.28
93.81
60.93
68.80
84.52
70.76
-2.4
2.0
1.000
2.000
2011
86.07
84.59
80.03
52.45
59.22
72.75
60.91
-13.7
2.0
1.000
2.000
2012
81.18
79.68
75.03
49.40
55.78
68.53
57.37
-5.7
2.0
1.000
2.000
2013
82.81
81.28
76.54
50.40
56.90
69.90
58.52
2.0
2.0
1.000
2.000
2014
84.46
82.92
78.07
51.41
58.04
71.31
59.70
2.0
2.0
1.000
2.000
2015
86.15
84.58
79.64
52.44
59.21
72.74
60.90
2.0
2.0
1.000
2.000
2016
87.87
86.28
81.24
53.50
60.40
74.20
62.12
2.0
2.0
1.000
2.000
2017
89.63
88.02
82.88
54.57
61.61
75.69
63.37
2.0
2.0
1.000
2.000
2018
91.42
89.78
84.54
55.67
62.85
77.21
64.64
2.0
2.0
1.000
2.000
Escalation rate of 2.0% thereafter.
*40 Deg API, 0.4% sulphur
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