Rising gas prices disreputable

[JLM]

Gas prices soar overnight amid Libya unrest - British Columbia - CBC News

With our resources we wouldn't need any oil (products) from Libya in the next millenium. The perpetrators of this should sent over there for a spell- might smarten them up. :roll:

 

[lone wolf]

It's not about war, insurrection, violence or civil unrest. Libya is the same sort of justification as Katrina - PROFIT

 

[Cliffy]

There is no excuse for that. We have reserves and our prices should not go up until we have to start consuming the more expensive oil. The companies are gouging us. Time for people to smarten up and start using public transit or switching to alternative transport like electric or 49cc scooters that get 200 mpg. We have only ourselves to blame for our excessive consumption.

 

[JLM]

There is no excuse for that. We have reserves and our prices should not go up until we have to start consuming the more expensive oil. The companies are gouging us. Time for people to smarten up and start using public transit or switching to alternative transport like electric or 49cc scooters that get 200 mpg. We have only ourselves to blame for our excessive consumption.

You have that right Cliff- there's another mode of travel that works quite well for the short commutes.....................WALKING.

 

[lone wolf]

Tried downsizing when I migrated from an F-150 to a Tercel. Damned head's been too close to windshield and arse too close to asphalt ever since....

 

[taxslave]

Theft at the pumps. The problem is that those in control are getting rich speculating on an essential product that just squeezes money out of the rest of the economy. (Sorry mr car dealer we won't be buying that new truck because we can't afford to drive it because our customers can no longer afford to hire us since all their disposable income is going into the gas pump).
We need a Canadian price for oil based on production costs and any excess after our needs are met can be sold on the open market for whatever the market will bear. Or we ban anyone not involved in the oil industry from buying futures. You must take physical delivery of the product to be in the market. So well owners and refineries will be the only ones to be involved. This has worked in other industries. EG: At one time in the B.C. Small Business Forestry program one had to own a piece of logging equipment to bid on some crown timber sales. You also could not have a quota or contract to log more than 60000m3 a year.
The hard part is finding a politician willing to do what is right instead of what will make him/her rich.

 

[Cliffy]

You have that right Cliff- there's another mode of travel that works quite well for the short commutes.....................WALKING.

Yup. I put a lot more mileage on my legs and my bicycle than my little Mazda 323. In fact this winter I bet I have not consumed more than $50 of gas.

 

[Unforgiven]

The problem is that those in control are getting rich speculating on an essential product that just squeezes money out of the rest of the economy. (snip) The hard part is finding a politician willing to do what is right instead of what will make him/her rich.

Right it's speculation. So rather than curse the dark, turn on a light and start investing a little and join the party. You don't need to make millions every year, when when you put a couple of thousand in your pocket because of the price of oil, the bite at the pumps doesn't sting so much and if you do it right, you might even feel good about it.

 

[karrie]

Gas prices soar overnight amid Libya unrest - British Columbia - CBC News

With our resources we wouldn't need any oil (products) from Libya in the next millenium. The perpetrators of this should sent over there for a spell- might smarten them up. :roll:

Considering that our companies are being impacgted, greatly, by this, I don't see how it could NOT effect our oil prices. HUbby's company had to start mass evacuations, and the companies they work for, like wise. They are pouring huge resources into securing their Canadian expatriates. Suncor hands were recently chased off a rig and out into the desert at gun point before their rig was burned to the ground.

If you don't know anyone who works in the oil industry, I can see where you wouldn't be aware of a) our involvement in Libya and b) the impact this does have on Canadian companies, but it is not a matter or rolling eyes and pretending it doesn't impact us.

 

[weaselwords]

Gasoline prices in Canada are dictated by spot pricing in the US eg S Ont-Buffalo, Prairies-Great Falls Montana, Lower BC-Seattle. The spot price 02/23/11 was .70 per litre anything more is tax. Now what the cost to produce that litre was I don't know. Supposedly there is enough crude & refined gasline in the system given normal demand to last upwards of 90 days. Will we see spot prices hold at that level over the next 90 days, I don't think so. As prices rise is it gouging, not really considering the pipeline of raw crude supply will be rising. There is going to be winfalls for refiners & retailers in the short run but in the long run there is a price ceiling that will be hit.

 

[EagleSmack]

Before the Libyan unrest kicked into high gear the price for oil jumped because two Iranian Navy ships were transitting the Suez Canal.

Two ships that are no threat at all caused all the bloated oil fat cats to bump the prices up.

They are loving this unrest. This is where the profits get padded.

 

[TenPenny]

Our prices in NB are based on the rack price in NewYork.

Regulated, and changed once a week, unless there is a major shift. Since it's based on a known formula, every Wed morning the local CBC station has a guy predict what the price will do at midnight, so I filled up last night.

 

[EagleSmack]

Our prices in NB are based on the rack price in NewYork.

Regulated, and changed once a week, unless there is a major shift. Since it's based on a known formula, every Wed morning the local CBC station has a guy predict what the price will do at midnight, so I filled up last night.

Yup... I filled up yesterday.

 

[taxslave]

Right it's speculation. So rather than curse the dark, turn on a light and start investing a little and join the party. You don't need to make millions every year, when when you put a couple of thousand in your pocket because of the price of oil, the bite at the pumps doesn't sting so much and if you do it right, you might even feel good about it.

That does nothing to help industries that depend on oil to function. Also it is hard to invest money when you are either not working or your discretionary spending money is all used up putting fuel in the car so you can go to work to pay your mortgage and buy food.

In any event we don't get our oil from the middle east therefore there is no excuse other than greed for raising our gas prices.

 

[lone wolf]

The gas we're paying through the nose for today was processed from lower-price-per-barrel crude.

 

[captain morgan]

Re: Gas prices soar due to Libyan unrest

Before the Libyan unrest kicked into high gear the price for oil jumped because two Iranian Navy ships were transitting the Suez Canal.

Two ships that are no threat at all caused all the bloated oil fat cats to bump the prices up.

They are loving this unrest. This is where the profits get padded.

The Egyptian labour force that worked the Suez threatened (strike) action at one point. That was a big motivator for the increase in Brent crude in Europe. The price of oil is purely a function of supply/demand.

That does nothing to help industries that depend on oil to function. Also it is hard to invest money when you are either not working or your discretionary spending money is all used up putting fuel in the car so you can go to work to pay your mortgage and buy food.

In any event we don't get our oil from the middle east therefore there is no excuse other than greed for raising our gas prices.

Do you go to work to make a profit?

 

[karrie]

In any event we don't get our oil from the middle east therefore there is no excuse other than greed for raising our gas prices.

The companies that work in the middle east are owned, by and large, in North America. Their profits run largely to North America. So when something happens that hits those companies hard (like the cost of evacuations, burnt infrastructure, and the forecasted cost of putting out oil well fires), the cost usually ends up going to the same place the profit goes. I know, sucks for us that we have to take the bad with the good, but we do.

 

[JLM]

That was the rationale stupid old me was going by when I first posted. I really must start using common sense in these matters. :lol:

The companies that work in the middle east are owned, by and large, in North America. Their profits run largely to North America. So when something happens that hits those companies hard (like the cost of evacuations, burnt infrastructure, and the forecasted cost of putting out oil well fires), the cost usually ends up going to the same place the profit goes. I know, sucks for us that we have to take the bad with the good, but we do.

So maybe when North American companies decide to locate over seas, they should pick a safe country, NO? Oh yeah, and one that has oil.:smile:

 

[Unforgiven]

That does nothing to help industries that depend on oil to function. Also it is hard to invest money when you are either not working or your discretionary spending money is all used up putting fuel in the car so you can go to work to pay your mortgage and buy food.

In any event we don't get our oil from the middle east therefore there is no excuse other than greed for raising our gas prices.

You do understand our economic system right? Greed schmeed don't buy gas. If you want to make money off it, and there is a lot of money being made off it, then invest wisely.

I'm sorry that there is poverty but there is. Upgrade your education so you can get a better paying job and make more money so you can invest and provide a better future. It's not easy and no one said it would be. It's damn difficult but those are your choices.

 

[karrie]

So maybe when North American companies decide to locate over seas, they should pick a safe country, NO? Oh yeah, and one that has oil.:smile:

Our stock market generally doesn't care if it's a safe country or not, so long as it's not so dangerous as to be too expensive to profit from. The companies go to those countries which have a market they can exploit, and the money flows back here with pretty hefty profits. The fact that our markets are tied to the profitability of exploiting foreign markets isn't news to anyone, is it?