CBC News says that with the continued rise of the US dollar, US oil prices will continue to fall. The United States is a large consumer of our exported oil. Since they can produce oil at a lower price than us, oil rigs in Canada are starting to lose demand. To recover from falling oil prices and rising production costs, the Canadian oil industry has decided to lay off workers. This led to an increase in unemployment and a decrease in national income. As average income falls, consumers are encouraged to save, which lowers GDP. As the economy begins to decline, interest rates will fall and there will be a domino effect.