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Price of gas and the great white man


margrace

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First the price of gas, I have just come back for Alberta and BC where the price of gas was at least ten cents a litre more than in Ontario, what gives?

Now there are two more Mounties shot by the great white man, seems theres been a lot on here about the colour of the skin of the shootings in Toronto.

Seems theres a problem here

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First the price of gas, I have just come back for Alberta and BC where the price of gas was at least ten cents a litre more than in Ontario, what gives?

Now there are two more Mounties shot by the great white man, seems theres been a lot on here about the colour of the skin of the shootings in Toronto.

Seems theres a problem here

Is this about gas or the the terrible events in Saskatchewan?

Gas prices, we are getting gouged because people are stupid and actually buy more gas as soon as prices go up.

Saskatchewan, I don't see what the suspect being white has to do with anything.

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Obviously you don't work here. Every business oil related or not benefits, if your not doing well in Calgary/Edmonton, there is something wrong with you. Your wage increase are because of oil, if your a home owner, your property value skyrocketing is because of oil. Your stock portfolio, same deal.

The Edmonton-Calgary corridor is the richest region in the world because of oil. Tell me that we earning 10-20% on average before tax more than other Canadians is mere coincidence and oil has nothing to do with that.

We see everything in new oil patch profits.

It's stupid consumers that don't realise that buying more gas when prices go up just spurs it on. We are gouged by our own ignorance and stupidity. Gas prices go up, take a walk instead.

If consumers are willing to pay higher prices forever, then companies will raise prices forever. Common sense.

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Geoffrey

I was living in Alberta when Lougheed brought in the Heritage Fund in 1976 to prepare for the day when Alberta's energy bonanza declined. Twenty years later in 1996 it was around 12 billion. Ten years later it is less than 3 billion larger meaning it has barely kept up with inflation in spite of the highest energy prices in history. I'm no longer an Alberta resident so it is no skin off my backside but doesn't that make you feel even a teeny bit nervous about direction of Alberta's governments and the Provinces future or are you confident that enough of the royalties are being used to prepare for that inevitable future whenever it comes?

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We see everything in new oil patch profits.

Is it true that for every barrel of oil (goo) you extract in your precious Alberta, you have to use enough natural gas to heat a family home for four days? And that you have to tear up four tons of landscape, all for one measly barrel of oil?

THAT'S NUTS!!

http://www.pastpeak.com/archives/peak_oil/index.htm

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Here in the land of too much oil and too little royalties we are used to market fluctuations. In short we see nothing new in oil patch profits.

Profits make it far easier to borrow the money for capital expenditures to produce more oil.

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Geoffrey

I was living in Alberta when Lougheed brought in the Heritage Fund in 1976 to prepare for the day when Alberta's energy bonanza declined. Twenty years later in 1996 it was around 12 billion. Ten years later it is less than 3 billion larger meaning it has barely kept up with inflation in spite of the highest energy prices in history. I'm no longer an Alberta resident so it is no skin off my backside but doesn't that make you feel even a teeny bit nervous about direction of Alberta's governments and the Provinces future or are you confident that enough of the royalties are being used to prepare for that inevitable future whenever it comes?

Not really. Industry can use the money better through direct investment and tax cuts than in a massive fund to sit there to start investing only after the market crash.

The time to invest is now, not later, and Alberta should be cutting taxes to spur development in other sectors. Oil and gas is at the max considering they have no more labour, so only other sectors would grow at a material rate under a tax cuts policy.

Saving the money is stupid. Provinces don't retire.

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Geoffrey

I was living in Alberta when Lougheed brought in the Heritage Fund in 1976 to prepare for the day when Alberta's energy bonanza declined. Twenty years later in 1996 it was around 12 billion. Ten years later it is less than 3 billion larger meaning it has barely kept up with inflation in spite of the highest energy prices in history. I'm no longer an Alberta resident so it is no skin off my backside but doesn't that make you feel even a teeny bit nervous about direction of Alberta's governments and the Provinces future or are you confident that enough of the royalties are being used to prepare for that inevitable future whenever it comes?

You do have to remember that from 1996 through roughly mid-2003 the prices were actually extremely low in real terms. It has only been from about August 2003 on that they have even been at, say, 1983 levels in real terms, and only challenged 1974 and 1981 peaks recently.

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Not really. Industry can use the money better through direct investment and tax cuts than in a massive fund to sit there to start investing only after the market crash.

The time to invest is now, not later, and Alberta should be cutting taxes to spur development in other sectors. Oil and gas is at the max considering they have no more labour, so only other sectors would grow at a material rate under a tax cuts policy.

Saving the money is stupid. Provinces don't retire.

Invest in what?

Provinces don't retire but when one source of income disappears everyone has to find another. Do you think Alberta will be prepared for it? My guess is they will to a degree but it is unlikely that that they will be able to duplicate the energy boom.

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I have lived in Alberta for more three and a half decades. I have worked for the same company for two and a half decades. I have had five children and two wives in Alberta. I worked outside in forty below weather and I have worked inside too. I have been a union man and a supervisor. I have studied the political situation in Alberta from the United Farmers to the Progressive Conservatives.

Having said that I believe I am reasonably qualified to speak my piece when and where I see fit.

Just to clear something up here, the Socreds lost power in Alberta when the Progressive Conservatives falsely accused the government of being in debt. King Peter took office with a six billion dollar bank accoint and no debt. Five years later he named the bank account the Heritage Trust Fund. In 1988 the last dollar was deposited in the fund, and in 2004 the fund was completely incorporated in general revenues. For all true intents and purposes it no longer exists. In twelve years the government managed to add six billion to the fund between 76-88. This is the much vaunted fiscal conservative government of the Progressive Conservative Party of Alberta.

That fund should have about 450 billion dollars in it, but it doesn't. As we speak our conventional oil reserves are being depleted at a horrific rate. Those are the ones we make a few bucks on in royalties. Which by the way the Government of Alberta gives rebates on those royalties to the oil companys every year totaling some 250 million dollars. Our tar sands production is under a 1 percent royalty on profits untill all investment costs are recovered, by the way that includes an abstract lost investment income calculation.

Things are not really rosy in Alberta, but there is a lot of people that seem to think so. Yeah its true that if you bought a house in Calgary in the seventies for 20,000.00 and now have it valued at 500,000.00 you are a long ways ahead of the game. Now how in the hell are your kids going to buy a house at those prices? Don't get me wrong I am an Albertan through and through wouldn't want to live anywhere else, but this province is not the end all and be all that it is cracked up to be.

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First the price of gas, I have just come back for Alberta and BC where the price of gas was at least ten cents a litre more than in Ontario, what gives?

Seems theres a problem here

There's a price war going on Ontario has more grocery stores open a gas station alongside their stores. Ontario was slower than Western Canada in investing in larger supermarkets that had gas stations selling gas at a discount to attract shoppers.

These lower in Ontario gas prices will continue as the supermarkets battle it out for market share.

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Obviously you don't work here. Every business oil related or not benefits, if your not doing well in Calgary/Edmonton, there is something wrong with you. Your wage increase are because of oil, if your a home owner, your property value skyrocketing is because of oil. Your stock portfolio, same deal.

The Edmonton-Calgary corridor is the richest region in the world because of oil. Tell me that we earning 10-20% on average before tax more than other Canadians is mere coincidence and oil has nothing to do with that.

We see everything in new oil patch profits.

It's stupid consumers that don't realise that buying more gas when prices go up just spurs it on. We are gouged by our own ignorance and stupidity. Gas prices go up, take a walk instead.

If consumers are willing to pay higher prices forever, then companies will raise prices forever. Common sense.

Higher oil prices do one thing for the economy: They make people think about alternative energy sources. It is slow and costly at first (take windmill energy as an example) but as costs continue to rise, the costs of the things like windmill technology start to look more affordable.

Canada might do well with thermal heating and cooling. New neighborhoods built with this system in place instead of natural gas heating could save thousands upon thousands over the course of a lifetime of ownership. And more the better, gas not used in Canada can be exported elsewhere.

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We see everything in new oil patch profits.

Is it true that for every barrel of oil (goo) you extract in your precious Alberta, you have to use enough natural gas to heat a family home for four days? And that you have to tear up four tons of landscape, all for one measly barrel of oil?

THAT'S NUTS!!

http://www.pastpeak.com/archives/peak_oil/index.htm

Just think what it does to the enviroment.

Water vapour is the leading greenhouse gas.

One-hundred burned cubic feet of natural gas (basically methane) produces 200 cubic feet of water vapor.

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