Gas + - 67.9 per Liter

[muskymike]

Over 500,000 jobs lost in the states last month plus who knows how many lost here in canada means a whole lot less people driving to work....

 

November Job Loss for Ontario was 67,000 or something like that, the greatest monthly since '87....I unfortunately was one of them....in the home building industry. Figures, Gas goes down this low and my truck sits in the driveway.

[4thgen]

Still 89.9 here as of yesterday, it would be awesome if I didn't know how cheap it is in the south!

[camillj]

Merrill Lynch was predicting 25$ barrel oil next year ... that'll be hard on our friends out west (and the C$) ... but price of gas still has some downside ...

 

Remeber ...when you do the math... you gotta factor in the 30% difference in cost of USD$ ... so our current price of CDN 67 cents is not far from what you would expect at USD$40/bbl

[holdfast]

Demand is down, but that's not the only factor.

 

Speculators drove the price of a barrel of oil up for the past year or so, causing the raw materials for making gas more expensive. A barrel of crude has dropped from around $148 down to $41, so it doesn't cost as much to buy that raw material.

 

Since the world is in recession, the outlook for the demand isn't looking great, so speculators are shying away from investing, thus the price is low.

 

The retail price is reflective of those two reasons, but also the value of the Canadian dollar in relation to the US dollar. You may think that since gas was at it's peak over $1.30 per liter...the cost of oil has dropped around 70%, that gas should also drop by 70% as well. Since the price of oil is purchased on the world market in US$, when our dollar drops it still 'costs' more for us. Also, there are fixed costs in production that don't move no matter what the price of oil is at, or what the value of our dollar is.

 

I'm not an expert...this is just how I believe it works...if anyone else can clarify anything I've written, it would be appreciated.

 

Do you think that maybe its so low now, that maybe a government or Consumers group might now put some control when it does go up. It will because one thing is a sure Bet, Panic and Greed.

[SlowPoke]

Now is the perfect time to buy that Hummer you've always wanted. Bank the difference in gas savings and apply it to your repair bills when GM folds and there is nobody there to perform your warrenty work.

Everybody wins!

[BUSTER]

Now is the perfect time to buy that Hummer you've always wanted. Bank the difference in gas savings and apply it to your repair bills when GM folds and there is nobody there to perform your warrenty work.

Everybody wins!

Then you loose your job and cant make the payments....................

[BillM]

Hurry up and drop the diesel prices already.. I am sick of paying 25 cents more at the pumps then the gasser crowd.

[moemoe]

I don't think anyone knows what going to happen, first merril lynch was saying in July that prices next year were going to be 120 a barrell, then in September it was going to be 90, then they changed again saying it would be 50, now again saying it will be $25 next year, It could up again next month and they would just change the forecast again, because really they have no clue

[pikehunter]

at 44 dollars a barrel we should be paying around 42 cents a litre. We are still getting chiseled.

Exactly!

We have had this discussion around the house and the water cooler several times. I don't get the logic either. Except that we are still getting hosed! The oil barons figure we are all stupid and will be happy to see the pump price down to less than half of what it was even though the barrel price has dropped to about 1/2 of it's highest value. What a rip, I say that though without taking into consideration the Canadian dollar's drop in value. But at least the price is better, I can't deny that.

[outllaw]

.i figure we are still being hosed. our in famous goverments sold off oil rights years ago. as for diesel owners, i feel for ya. i went back to gas. windsor is at 75 a litre. who can afford it. everyones laid off.

[holdfast]

November Job Loss for Ontario was 67,000 or something like that, the greatest monthly since '87....I unfortunately was one of them....in the home building industry. Figures, Gas goes down this low and my truck sits in the driveway.

 

Come on down to Saskatchewan. I was called a racist on this Board a little over a year ago when I said I would rather see Canadians move here than going outside the country to get workers. Not like Saskatchewan isn't trying. Just last Month the Premiere had a Job Fair in Toronto with recruiters trying to lure workers. Move or Starve it isn't the end of the World. There is a Canada outside Ontario and Quebec.

[pikehunter]

There is a Canada outside Ontario and Quebec.

 

Yeah, some might even call it God's Country.

[bigugli]

Come on down to Saskatchewan. I was called a racist on this Board a little over a year ago when I said I would rather see Canadians move here than going outside the country to get workers. Not like Saskatchewan isn't trying. Just last Month the Premiere had a Job Fair in Toronto with recruiters trying to lure workers. Move or Starve it isn't the end of the World. There is a Canada outside Ontario and Quebec.

A bunch of young lads just came home from Alberta last week. All laid off because the oil boom went bust. They were all told it was indefinite. Too bad the young lads behaved like young lads and blew the money on the worlds 2 greatest evils.

[Clampet]

C'mon, C'mon stick to the Gas prices.

[anders]

That is sweet....however we are still getting it hard...paying 94.5, and 97.9 here.

 

[holdfast]

That is sweet....however we are still getting it hard...paying 94.5, and 97.9 here.

 

 

Heard a good one on the Radio.

 

Gas Prices per Barrel is Plummeting

At the pumps theyre inching down

 

Ain't that so. Do ya think the crooks think that we might not notice? Gas here still 84

Wait till it goes up, lets see, when it was $140 a Barrel we were paying $1.45 at the pumps, next time at that same Barrel price I bet we will be paying $2.00 plus

[BSER]

hello folks, I aint no expert on oil prices but i do work in Fort Mcmurray Alberta and can give a small bit of insight regarding production costs. I work for Syncrude, owned by Exon and as of the last financial report, the cost to produce 1 barrel of oil was $27.42. You do the math on the Meryl Lynch report....????

[Guest lundboy]

Here's what I've heard... Take it or leave it.

 

The price of oil will remain below $50 (with minor ups and downs) per barrel for at least the next 6 months to a year, so enjoy the cheap gas while you can. Take advantage of it.

 

OPEC does not control the price of oil, and they will be ineffective at raising it back up causing the OPEC nations to suffer greatly until bankruptcy of some or most of them. This is by design of the big oil companies to bring the OPEC nations to their knees, and to hurt the growing Russian oil industry.

 

A side affect of this is that the OPEC nations hold extensive American debt, and are one of the chief purchasers of this debt. OPEC nations require a minimum of $80/barrel to fund their own societies, and will not be able to buy up any of the U.S. junk bonds and debt that they usually do, which will have a devastating affect on the US economy.

 

After about 6-12 months you can expect the price to rise substantially as OPEC falls and the US dollar tanks.

Edited December 10, 2008 by lundboy

[irishfield]

hello folks, I aint no expert on oil prices but i do work in Fort Mcmurray Alberta and can give a small bit of insight regarding production costs. I work for Syncrude, owned by Exon and as of the last financial report, the cost to produce 1 barrel of oil was $27.42. You do the math on the Meryl Lynch report....????

 

That's why many projects are being delayed and put aside in the tar sands. It's cheaper to bring it up a hole in the ground than to process that black dirt...and I believe the layoffs are already in process from the tar sands.

[Billy Bob]

Here's what I've heard... Take it or leave it.

 

The price of oil will remain below $50 (with minor ups and downs) per barrel for at least the next 6 months to a year, so enjoy the cheap gas while you can. Take advantage of it.

 

OPEC does not control the price of oil, and they will be ineffective at raising it back up causing the OPEC nations to suffer greatly until bankruptcy of some or most of them. This is by design of the big oil companies to bring the OPEC nations to their knees, and to hurt the growing Russian oil industry.

 

A side affect of this is that the OPEC nations hold extensive American debt, and are one of the chief purchasers of this debt. OPEC nations require a minimum of $80/barrel to fund their own societies, and will not be able to buy up any of the U.S. junk bonds and debt that they usually do, which will have a devastating affect on the US economy.

 

After about 6-12 months you can expect the price to rise substantially as OPEC falls and the US dollar tanks.

 

Huh, and I've been listing to economist and financial consultants all these years when I all I needed to do was come this fishing site...... LOL

[irishfield]

You may as well have Billy Bob... Economist and financial consultants have me 41 % in the hole right now.... I should have called lundboy and rolled the dice instead.

Edited December 10, 2008 by irishfield

[Billy Bob]

You may as well have Billy Bob... Economist and financial consultants have me 41 % in the whole right now.... I should have called lundboy and rolled the dice instead.

 

It seems he's anxious for the US dollar to go as he said "in the tank". He better hopes it doesn't because as the US dollar goes so does the Canadian Loony. Just today the US dollar is worth $1.26 in Canadian funds...