Gas Prices

[JonB2004]

Gas prices are beginning to get out of hand. Today, oil prices closed at $67.15 per barrel. That's outrageous. In Interior British Columbia, gas prices are 101.9 cents per litre. That gets really expensive after a while. This problem has only started to happen after Canada signed the Kyoto Accord. But statistics say that Canada only produces 2% of all the world's greenhouse emmisions. The U.S. on the other hand produces 25% of all the world's greenhouse emmisions and they didn't sign the Kyoto Accord. Why should Canadians suffer by paying gas prices. We need the government to either cap gas prices or give out more energy cost rebates.

(The recent natural disaters also contributed to rising energy costs.)

 

[Mogz]

I was in Kingston Ontario last summer for a few months and the gas hiked up to $1.35. Me thinks that's a tad ridiculous. Even right now Edmonton is sitting at $0.99, and i'm just waiting for it to clear a buck, then i'll cry as my tank is almost on E. As for Kyoto, i'd noticed the trend too. However that's the short-sightedness of our Government for you.

 

[darkbeaver]

You work for the oil companys Mogz don't you want the home team to win, Jesus you're confused.

 

[elevennevele]

It's not about Kyoto. It's a variety of reasons. One of which is increased energy demand from China and India as their economies grow with such huge populations. Higher demand equals higher prices. Moreoever, OPEC has a monopoly on production and limits production regardless of increased demand. Then there is the instability in oil producing countries (Iraq War and threats to Iran), and of course Oil Companies not really working to improve refining capacity because the profits are OOHHH so good to them. This is why you have high prices at the pump.

How is it that companies such as Exxon Mobile can have record breaking quarterly profits in the billions. We are talking straight profit. They love the high oil prices with the profits they make from selling refined oil at a premium. The funny thing also is that they have lobbied the US government to pay them to search for other drilling sites on US tax payers money. Like they couldn’t afford it themselves.

http://money.cnn.com/2006/01/30/news/companies/exxon_earns/

Exxon Mobil sets profit record
Nation's No. 1 oil company reports larger than expected jump in 4Q income to cap record year.
By Chris Isidore, CNNMoney.com senior writer
January 30, 2006: 2:41 PM EST


NEW YORK (CNNMoney.com) - Exxon Mobil Corp. set U.S. records for annual and quarterly profits Monday as it easily topped fourth-quarter earnings forecasts.

The nation's largest oil company reported net income in the fourth quarter of $10.7 billion, or $1.71 a share, compared to $8.4 billion, or $1.30 a share, a year earlier.

Excluding items, Exxon Mobil (Research) earned $10.3 billion, or $1.65 per share, topping a consensus forecast of $1.44 a share from analysts surveyed by earnings tracker First Call. It also topped the record for quarterly profits it set in the third quarter, when it earned $9.9 billion.

Shares of Exxon Mobil gained 2 percent in early-afternoon trading, helping to take the Dow into positive territory.

For the year the company earned net income of $36.1 billion, or $33.9 billion excluding special items. That's up 31 percent from the $25.9 billion it earned on that basis year earlier.

 

[FiveParadox]

The Kyoto Accord, while it has proven somewhat ineffective in terms of the initiative of the previous Government of Canada to enact any sort of discernable measures in relation to climate change, has nothing to do with the price of gas. After the spike in gas prices after Hurricane Katrina some months ago, the House of Commons conducted committee hearings in relation to the prices of gas; they concurred that Canadians had a right to be suspicious of oil companies, in that they were, in fact, likely gouging for profit.

 

[Jay]

All of them at the same time?

 

[elevennevele]

There are many technologies to reduce our dependency on oil. Hybrid technology for cars is out there. It requires however governments supporting incentives for implementation. That however would get in the way of the Oil Company's soaring profits. It’s great for them when oil prices are high. Bush is an oil man after all well connected with the oil industry. That Saudis even paid for Bush juniors oil drilling failure. And you would be surprised at the Texas connections Alberta has.

http://www.washingtonpost.com/wp-dyn/articles/A7459-2005Apr21.html
http://www.washingtonpost.com/ac2/wp-dyn/A7459-2005Apr21?language=printer

The House yesterday approved a wide-ranging energy bill that would permit new drilling in Alaska and give producers billions of dollars of incentives.

The 1,000-page bill was approved by a vote of 249 to 183 after a spirited debate over a provision providing legal protections to a gasoline additive linked to drinking-water contamination. Much of the legislation focuses on conventional sources of energy and provides relatively little for conservation and alternative forms of energy.

The measure calls for opening Alaska's Arctic National Wildlife Refuge to oil and gas development, and alters the Clean Air Act by giving localities whose polluted air comes from distant states more time to meet national air-quality standards. It would grant funding for research into oil and natural gas drilling in the deep waters of the Gulf of Mexico -- at a cost as high as $2 billon.

At a time of surging energy costs, including gasoline prices well above $2 a gallon, supporters said the legislation eventually would help bring down prices. Opponents said it would not moderate consumer prices and instead would further inflate energy companies' soaring profits.

 

[elevennevele]

Re: RE: Gas Prices

All of them at the same time?

You bet.

 

[Jay]

Should be easy to prosecute then....

 

[elevennevele]

Prosecute how? The US government pretty much endorses the actions of the Oil Companies and Canada will maybe at best ask a few questions.

 

[Jay]

Take it to court; it's easy. You will need evidence however....

 

[JonB2004]

We don't need to prosecute oil companies. They just want to make money. Its the government we should be bitching at. They need to either put a cap on gas prices or give out more energy cost rebates.

 

[Jay]

If the government really cared about people, they would stop taxing gas a 40%.

 

[FiveParadox]

If the Government were to decrease its gas taxation, then the Government would be starved for revenue, and huge cuts to programs would need to be made; that is not the solution to our problems, and would only cause further issues to arise in other areas of the economy, in my opinion.

 

[Jay]

Yes I know.... Liberals believe in taxing people into prosperity.

 

[MMMike]

Re: RE: Gas Prices

We don't need to prosecute oil companies. They just want to make money. Its the government we should be bitching at. They need to either put a cap on gas prices or give out more energy cost rebates.

That's the most moronic thing I have heard of in my life. Yeah, let's have taxpayers subsidize the cost of gas so you can drive your gas guzzling 3 ton SUV and still have money left for your latte. I don't think so. You can't pay the cost of gas you don't drive - simple.

The price of gas should be higher, not lower. How many thousands of people die every year from air pollution? What is the cost of global warming caused in large part from gas consumption? Where does that factor into the price at the pump? It doesn't, but it should.

 

[elevennevele]

Jay, you can believe whatever you want. I have to wonder to myself if you believe in what you put forth on these boards or if you are just trying to diffuse issues. I'll give you the benefit of the doubt, but I'm not naive or gullible. Read what you like into that. I just don’t like wasting my time replying to someone who I think might just be trying to spin everyone’s wheels.

In fact, white collar crime is a big thing right now. You can believe people don’t get away with things. You can believe anything you want.

 

[FiveParadox]

Jay, perhaps you should respond to one or more of my posts, as opposed to offering knee-jerk reactions that sound as if they could have come out of the Conservative Party's public relations bureau. Do you disagree with the fact that decreasing taxation on gas would necessitate major cuts to program spending?

 

[Jay]

You wonder all this because I have different ideas than you?

Yes I do believe people get away with things.

 

[Jay]

Re: RE: Gas Prices

Jay, perhaps you should respond to one or more of my posts, as opposed to offering knee-jerk reactions that sound as if they could have come out of the Conservative Party's public relations bureau. Do you disagree with the fact that decreasing taxation on gas would necessitate major cuts to program spending?

It isn't a black and white issue.


Tax cuts are known for jump starting economies, and consumers spend and pay taxes....