Record gas prices here

[topraider]

Holdfast, those companies you mentioned are not pure play refiners, I don't think Bonavista refines at all, I searched Suncor's earnings report from this morning and copied this paragraph:

 

"The increase in earnings was primarily due to higher price realizations on the company's oil sands sales, as benchmark crude oil prices continued to rise. This was partially offset by increased oil sands operating expenses and increased oil sands royalties, as well as reduced margins in the refining and marketing business."

 

The money is in exploration and production, not refining, a couple of years ago though, the refiners were making big margins. Not now. Thats why the integrated oil companies in Canada (petrocanada, imperial oil) have underperformed their peers, who mine or drill for it and then sell it to the marketers and refiners.

 

Husky made $38million in the last quarter from marketing and refining. They made $882 million overall.

[mepps]

Was $1.28 per L here, and said to be going up tomorrow.

[Radnine]

Most of the world's oil is controlled by governments, not the big oil companies. Governments expropriate, and then run the resource down by not investing the profits back into the business.

I don’t know who ultimately gets the money, but I know that I only have so much of it. If it all goes into my tank, then it doesn’t go elsewhere in the economy. I don’t know how this helps any government.

I have already cancelled my newspaper and pared down my cable service (the internet I guess, will be next) and all charitable donations have stopped.

These measures are not taken because I can’t afford to do everything, but because I won’t afford to do everything. When the newspaper has to lay off the night shift because people can’t afford the paper anymore maybe the powers that be might think twice.

[Billy Bob]

I purchased gas on the Indian Res today at $3.53 a gallon, saving only 10 cents per gallon. It use to be a savings between 30-40 cents. They have gotten just a GREEDY as the oil companies. Last time I purchase their gasoline. They can choke on their peace pipes before I stop there again

[MoriaRiverMan]

My daily driver is a hummer h2!!!!

Enough said

 

If i had 20$ for everytime a person walks upto me at the gas station and says "hows that thing on gas" id be rich!!!

 

I tell them its great.........i get 43 miles to the gallon with this new tritech fuel convertor i bought off ebay

[lunkerbasshunter]

I bet I can really ---- everyone off here......

 

Gas in China

 

.39 a litre

[MoriaRiverMan]

wages in china...........

1$ per day

[danbouck]

IF gas prices were not spiraling out of control I would be driving a Suburban or a Ford Excursion not a minivan.(quote MTP)

My suburban is not that bad on gas wallbash.gif

IPB

Remember when you said this Dan(Read Above)

 

It was always my dream one day to purchase a Suburban but the oil companies are going to kill that market soon.

 

I filled up the wifes minivan tonight($80.00) at Ultramar for $1.26 per litre on the other side of the street Petro Canada boosted the price up to $1.35 per litre.Its only going to get worse see the news tonite its affecting the price of food world wide and many are going hungry all over the world .Amazing how greed is now contributing more to third world starvation.

 

what goes around comes around

 

Luckily I have a work truck that is used the majority of the time. My suburban only gets about 5 km max per day so I can have my toy and it doesn't kill my budget. Random long trips are just a lot more enjoyable in a texas caddy!

[Rich Clemens]

Well ... we can add 4 more cents. Now 3.59 / Gallon.

[tomO]

still $ 3.55 a gallon here didn't change today.

[grt1]

Monday morning I bought gas in northern Minnesota for $3.44 a gallon. I took 20 gallons . If I converted that to litres it works out to 78.3 litres.

The gas cost me $57. At home here in Red Lake the same amount of gas would have cost me $101. I don't know why the guys in the USA are complaining.

[tschirk]

It's been researched that we will tolerate ~$1.50/ltr before we will start altering our way of life... Problem is that many suburban communities exist based on using cheap oil to commute to larger urban centres, shopping, school, etc...

 

We will end up like Europe with many small villages and local shops...hmmm ...not such a bad idea...

[Gerritt]

Dan... I too am one of the lucky ones.. My Gas expenses are paid for by my employer... if they weren't there is no way I would be working in Vaughan!

 

I am also a tier1 407 user (also taken care of by my employer) so I save 9 cents a litre on my non work fuel purchases...

 

G

[holdfast]

http://biz.yahoo.com/ap/080426/bad_gas_pumps.html

 

I always wondered about this. Lets see, no check valve, measuring gas at a differnt temp, peeves me that I work my butt off so somebody can rob me and get away

[Casey123]

Higher gas prices means fewer A's on the road.

 

[Guest lundboy]

Will it still be a record a month from now?

[Cookslav]

.... ....

 

Pretty much sums it up.

It royally pisses me off...but what can I do?.....Guess I'll suck it up.

[Tinman]

Its funny how the oil companies are making record profits too

[Guest lundboy]

Higher gas prices means fewer A's on the road.

 

 

Problem is that a lot of the "A"s turn out to be people that have absolutely no problems affording gas, you can usually tell by the expensive vehicles and the way they drive them.

[shane]

Problem is that a lot of the "A"s turn out to be people that have absolutely no problems affording gas, you can usually tell by the expensive vehicles and the way they drive them.

 

 

You got that right. They would be happy to see gas hit $3 or $4 bucks a litre. Just means fewer cars on the road to get in their way.

[Casey123]

Higher gas prices means fewer A's on the road.

 

 

 

Guys, this sounded a little harsh so let me explain, eveyday i drive towards Toronto. Part of my job is visiting various construction sites around the city. Thousands of comuters plug up the QEW and 401. Many people need to drive to work because they are not at one location all day, because they live outside of an area serviced by Public Transit etc.

 

However 1000's of these commuters drive to work because they are too good to take public transit. If gas goes higher in price it may cause people to pause and think. f we had more riders on Public Transit everyday (i.e. Go transit, TTC etc.) then maybe we would see some real improvements in public transit. Also developers and urban planners have a role to play in all of this. Why do we continue to build subdivisions further and further from people's place of employment and away from transit routes, this just forces people to drive to work.

While I agree that we should all be free to live where and how we want, those choices come with a price.

 

Who pays for someone deciding to live 100km from work for cheap land, we do. We pay with poor air quality, longer commutes, poorer quality roads and higher taxes to try and keep those roads in reasonable repair. The rich will always have less to consider due to their extra disposable income. That does not make it right, nor does it mean the rest of us do not have to make these choices. We are not entitled to cheap gas.

 

Basic macro economics states that when a product is in scarcity the price will rise. As the price rises, consumers will look for the best and cheapest alternative. Hopefully with the onset of higher prices we as individuals will think about the consumption choices we make. As we consume less, make better choices and push for better and more available alternatives then private industry will deliver.

 

As China and India develop into 1st world countries fossil fuel prices will continue to rise. This is something that we as a country of 35 million or the US for that matter with slightly more then 300 million can not change.

 

Big oil is not going to lead the alternative fuel source revolution like many suggest, they will just switch their focus from North American Markets to South East Asia.

 

There are many good examples of countries starting to tackle energy costs and alternatives. Ice Land is the first country to develop a Public Transit system that runs on hydrogen power, Germany is famous for their solar panels, Holland for wind power and I could go on. These energy sources are still emerging and expensive, however the prices are coming down as more people embrace them and as development of the products become more mature. Germany has reduced the cost of production of solar panels by 66%.

 

Big business is driven by greed, they will not ignore forever the demands of consumers, oil and gas are only a monopoly as long as consumers allow them to be.

[muttfish]

while were on the topic of gas being cheaper in the states then here, even though it was produced here(which drives me nuts) lets talk about beer! a few weeks ago I went to go see a rattdog concert in syracuse, bought a case of 30 cans of molson canadian for 17 bucks, a gallon of milk was 2.59,we are getting screwed on all important liquids. and theres nothing we can do about it?! totally unfair

[OhioFisherman]

4Reel actually a very good program on the History or Discovery channel on Iceland`s use of geothermal power from their volcanoes. They convert the heat to steam and generate electricity from it and use it for a hot water supply along with other uses.

[holdfast]

In this week's Fortune magazine there's an article about a new 6 billion dollar refinery being built in India that will be capable of producing 5% of the world's gasoline. 40% of the production will be shipped to the United States. As the North American gasoline market is integrated, it's good news for Canada too. Right now, refiners in North America aren't making money (all the money is being made in exploration and production), this additional supply can't be good news for the refiners, but it is good news for consumers.

 

There is no getting around the cost of a barrel of oil though, and the fuel taxes governments levy on top of that. Biofuels are not the answer, unless you are happy to see people around the world go hungry because food is being turned into ethanol.

 

Most of the world's oil is controlled by governments, not the big oil companies. Governments expropriate, and then run the resource down by not investing the profits back into the business.

 

Record oil prices drive Shell 1Q profits up 25 percent By TOBY STERLING, AP Business Writer

44 minutes ago

 

 

 

AMSTERDAM, Netherlands - Royal Dutch Shell PLC reported a 25 percent rise in first-quarter earnings on Tuesday, crediting strong increases in oil prices.

 

 

 

Europe's largest oil company said its average selling price of crude oil leaped by 66 percent to more than $90 per barrel from the first quarter a year ago.

 

That sent net profit soaring to a record $9.08 billion, up from $7.28 billion. Sales rose 55 percent to $114 billion.

 

Analysts said the performance was impressive, especially because expectations were already high.

 

Shell "delivered a very robust overall performance, with all the divisions outperforming the consensus and our estimates," wrote analyst Alexandre Weinberg of Petercam in a note on the earnings.

[Zib]

In Detroit it hit the $4 mark last week

 

 

What? The highest price I've seen in the Detoit area was $3.69/gal. I paid $3.52 last night.