oil and gas again

[Novi]

I know I tend to be an optomist but I saw on TV today that "they" expect oil and gas prices to back off some in September. After the summer travel season of course and "they" have squeezed every cent out of us "they" can. Oops-- did I say optomist I probably meant pessimist or realist.

[brad03ca]

Quote:

they" expect oil and gas prices to back off

Does "back off" mean go down in price....or just not, increase, daily. Seems to me, once they got us paying $1.00+/L, they won't reduce prices.
Last week the Govnt. boasted if gas prices keep climbing, they stand to make an additional 5 Billion in taxes. Gas tax in Ontario-24.7%...14% Provincial....10.7% Federal
Gas price MAY stop rising, but just in time to start raising prices of furnace oil, and natural gas....sheeeesh!!!

[Novi]

Yes Brad, back off means they will go down, or decrease. It is just the current cycle. I've done some gas and oil investing now and in the past. Current views are that the present prices are unsustainable and will decrease later this year, perhaps as early as September, I've seen this before too and more than once. And you bet the government makes a lot of money out of this and cigaretts and booze, and casinos. They also make a lot of money when our $ goes down. They buy it back buy the millions and wait for it to go up again and sell it off making many many millions.

[brad03ca]

Well Jim, I hope your right. I'd like to see prices drop back to at least....74.9 I know, I know,, Fat Chance....Brad

[Novi]

Yeah, me too I'm always hoping.

[2Roadrunners]

In Québec the govt. is getting 41.9¢/liter! We are paying $1.06/liter. The latest of a long list of reasons why gas prices are so high is the rate of drive-offs.

And here's a tidbit....

Netherlands Amsterdam $6.48
Norway Oslo $6.27
Italy Milan $5.96
Denmark Copenhagen $5.93
Belgium Brussels $5.91
Sweden Stockholm $5.80
United Kingdom London $5.79
Germany Frankfurt $5.57
France Paris $5.54
Portugal Lisbon $5.35
Hungary Budapest $4.94
Luxembourg $4.82
Croatia Zagreb $4.81
Ireland Dublin $4.78
Switzerland Geneva $4.74
Spain Madrid $4.55
Japan Tokyo $4.24
Czech Republic Prague $4.19
Romania Bucharest $4.09
Andorra $4.08
Estonia Tallinn $3.62
Bulgaria Sofia $3.52
Brazil Brasilia $3.12
Cuba Havana $3.03
Taiwan Taipei $2.84
Lebanon Beirut $2.63
South Africa Johannesburg $2.62
Nicaragua Managua $2.61
Panama Panama City $2.19
Russia Moscow $2.10
Puerto Rico San Juan $1.74
Saudi Arabia Riyadh $0.91
Kuwait Kuwait City $0.78
Egypt Cairo $0.65
Nigeria Lagos $0.38
Venezuela Caracas $0.12

[Little Kopit]

2 roadrunners, would you please post a link to where you are getting those world prices. Also, I don't see Australia there. Oz has been running in between N. Am. & Europe from spring until this month.

Re. prices. I paid $1.09 per l. on Monday in New Brunswick. Over all the price per litre went up $0.04/l. during my two week trip.

This part of Newfoundland is now matched with Nova Scotia (except Whycogomagh) at $1.069. Before my trip it was above NS. We've been at the $1+ mark for ages and ages. It's part of living. Makes one want a raise.

I was down into Maine. When I passed through from Calais to Lubec heading for Campobello Is., I saw as low as $2.38/gal. Two days later over the same territory, I saw nothing below $2.50/gal. Still, it was a very pleasant change.

[Novi]

It always seems bad where you are until you look at other places. Do you remember last September? Gas prices had been in the high $0.70s then for whatever reason when we started our fall shows and the price dropped to $0.58/liter. at the Flying J then hovered up and down .10/liter for a quite a while. I am NOT saying this will happen again but as I said I tend to be an optomist and believe the prices will come down later in the year. Also the Canadian dollar is supposed to go up even further later this year, great for us snow birds but not for our exports. You seldom get the best of both worlds at the same time.

[Little Kopit]

Novi, $0.58. NOT serious, are you?

I think we need to trade residencies for the summer. You can live with our gas prices? Believe me I would just love to see anything below $0.90/l.

They say demand without supply triggers the higher prices, yet y'all in places with higher population density pay less than those of us who have the benefit of more space. That, to me, makes the whole shebang look like corporate greed. Time to get serious about asking for altgernative fuels, all!!!!!

[Novi]

Hi Little Kopit, yeah that price of $0.58/liter was right!! Gone for now I'm sure. I agree it is time to get serious about alternate fuels. Today they were talking about the Alberta oil sands and they need to have prices around $35-40 per barrel US to make it sustainable, but they sure are happy with $66 US. And the USA is very interested in that area because of the huge amount of oil that is there and profits to be made. We have always paid less for gas in or near a large city, competition. In rural areas you pay what they ask or drive miles and then there is no saving.

[Bob Boucher]

Hey Ya'all! I see that Venezuella really shows us what the cost of production is!

What I'd like to know is how come the U.S. can retail our gas lower than we can? Let some Energy Minister explain that it has nothing to do with taxes!

Bob

[Little Kopit]

Bob, for the same reason that you pay less per litre in ON than we do out here. It's called volume. They're retailing to more people in a concentrated area, so less cost per litre too.

Just think it takes gas to bring us gas.

[Bob Boucher]

LK:

Think TAXES! Note, it's writ LARGE!

Bob

[brad03ca]

Just wondering here, and someone correct me if I'm wrong but, weren't the Alberta tar sands sold, to China, or are they talking about selling???? ....Brad