ZIRP policies pursued by central banks like the Bank of Canada are likely to have dramatic effects on real estate and finance sectors, as they did in the US. It is doubtful that real estate operates under completely different principles in Canada. Projections that global oil production can increase by 70 million barrels per day over the next 20 years through both conventional and unconventional sources may be unrealistic given the entire current global production is around 90 million barrels per day. As populations age in developed countries, pension plans face headwinds as retirees sell stock holdings to fund retirement, reducing the number of buyers in equity markets and putting downward pressure on prices. Low interest rates pursued by central banks negatively impact pension plan solvency