Sharky I think I can answer one of your questions:

"So a family with 2 kids has about 28.000 us $ to be repaid within 18 months??"

From what I've seen, the loan terms are grandfathered in (unlike Alberta royalties). They don't have to be paid back any faster, the only change is the ceilings have been lowered. If they have a credit line of 30.000 (assume that's $30,000 US terminology) and owe 28.000, the ceiling may get dropped to $25.000. That means they can't borrow the other $2.000 that was previously available. I don't think payments have to be made back faster.

In fact, that situation is exactly what I was referring to in previous posts, when I said I was concerned about the slow pace of ERCB approvals. I'm probably way off because I don't understand the financing, but that's exactly what I was worried about ... that some of the credit previously offered would be retracted.

OPEC is a good question, many people are wondering what their motives are. The talk I've been reading says Saudi Arabia still controls most of the production, and have actually been overproducing. Are they trying to help the economy via lower fuels costs? Are they trying to kill competing businisses? Once again you've asked a very good question that is probably impossible to answer. I believe one of the OPEC principals commented recently they'd like to maintain prices in the range of $70 to $80. Is there really "peak oil?"

Things look rough now; personally I'm hoping Connacher is set to ride out the storm next year, until the economy improves. However you guys are lots smarter than me.... My gut feeling is that governments have better controls in place, such as welfare, food stamps, unemployment and etc. than decades past. But in reality who knows? Seems like we're finally having to pay the piper for past sins, after -- as Mr. Greenspan so eloquently stated -- our "irrational exuberance." But the market is fickle, wild swings on speculation, I guess that's how some make money.

By the way guess what? The US has now been officially in a recession for the past year.