The business leader panel is best described as concerned but not panicked about the impact on the economy of surging oil prices. One reason for the absence of a strong reaction may be that business leaders see governments as having a range of effective economic instruments for encouraging consumers and industry to conserve or switch to other energy sources, for stimulating more exploration for oil in North America, and for bringing expensive sources of oil closer to market as a protection in the event of a Mid-East oil crisis. The panelists certainly see the Mid-East’s turmoil potential as the biggest factor driving up oil prices while they see rising demand in China and India as relatively minor factors.

If asked for advice on investment strategies, the business leaders would recommend an emphasis on real estate but are not recommending that investors remain in cash.

These are the key findings from the Financial Post/COMPAS panel survey of business leaders, conducted under the sponsorship of BDO Dunwoody LLP and the Canadian Chamber of Commerce.

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