From BNN:

Much as oil spilled from a broken pipeline will slowly seep into topsoil, the effects of the ongoing crash in crude prices is spreading across the Canadian economy.

The more obvious consequences – billions of dollars in lost profits among oil and gas producers, plummeting home values in petroleum-extracting regions, tens of thousands of energy workers made jobless – have been well telegraphed and documented. With the downturn now firmly in its second year, other sectors entirely unrelated to oil and gas are also beginning to suffer.

Insurance and telecom companies have generally been considered safe havens for investors fleeing commodity producers, but quarterly results released by two companies early Thursday morning revealed the cracks that are beginning to form.

Click here to read more. 

Legal Notice