Its morally wrong for upping the gas prices!

geoffrey · April 30, 2007

2: No, most gasoline consumers are annoyed every time they fill up. Perhaps some clap their hands in glee, but logic dictates that paying more for something doesn't make people happy.

I clap my hands when I look at my portfolio gains in the energy sector, so it balances out my weeping at the pump.

3: Do you not no how monopolies and cartels work?

If you can convince enough venture capitalists to front you the money to start a refinery, you'll do very well. Unfortunately, no one is willing to finance a losing idea, so that's why it hasn't happened. If there was money in expanding capacity, someone would do it.

Non-natural monopolies (like refining) are transitory in nature.

BC_chick · April 30, 2007

my portfolio gains in the energy sector

"Dividends from the oil companies" in today's world just doesn't sound as sexy does it?

geoffrey · April 30, 2007

"Dividends from the oil companies" in today's world just doesn't sound as sexy does it?

No, but the condo and the car from it are though. I don't see a 'I bought this through funds gained by destroying the climate' sticker on my window!

kuzadd · April 30, 2007

Here we go again!! Small town Ontario, gas prices were more than TO and then they came down to .99 for two days then shot up to 1.06!!!!! TO is still cheaper than small town Ontario!! What gives?????

gas prices have nothing to do with morality.

White Doors · April 30, 2007

If you can convince enough venture capitalists to front you the money to start a refinery, you'll do very well. Unfortunately, no one is willing to finance a losing idea, so that's why it hasn't happened. If there was money in expanding capacity, someone would do it.
Non-natural monopolies (like refining) are transitory in nature.

New refinery on the books fo Saint John NB.

Should help.

sharkman · April 30, 2007

Wow, that's great news, I hope it's sooner rather than later.

White Doors · April 30, 2007

Wow, that's great news, I hope it's sooner rather than later.

That will depend on the Global warming cult.

They are already protesting it.

Remiel · April 30, 2007

In these matters you sound like a socialist with your disregard for capitalism, or at least a leftwinger. I suppose I am a rightwinger. It's no wonder we see things differently on this topic.

Do you practice poorly conceived ad hominem attacks like this one in your spare time, or does it come naturally? Whatever minute credibility you may have been able to muster with your argument was completely thrown off by that comment.

To think that I even agreed with some of your sentiments on the gas oligarchy with their inelastic demand. And then you had to go and throw it all to hell with that extremely illogical insult.

sharkman · April 30, 2007

I don't follow. Socialists are not ashamed or insulted to be called what they are, neither are leftwingers. Although, they have a new term for their politics, progressives. An insult would have been more along the lines of commie pinko, bleeding heart liberal or idiot.

Remiel · April 30, 2007

If you cannot understand that supporting the currect price structure is not an issue of right vs. left, then there is nothing I can do to help you.

sharkman · May 1, 2007

It seems a lefty, Chavez, has seized control of foreign oil companies in his country, or as most people would say, stolen. Better tank up everybody. I wonder how long it will take to affect prices in Canada.

BornAlbertan · May 1, 2007

Is it morally wrong to up wages?

guyser · May 1, 2007

. Better tank up everybody. I wonder how long it will take to affect prices in Canada.

Considering that gas jumped from 1.01 to 1.08 overnight ........

Ouch!

Leafless · May 1, 2007

. Better tank up everybody. I wonder how long it will take to affect prices in Canada.

Considering that gas jumped from 1.01 to 1.08 overnight ........

Ouch!

Actually gas is a bargain.

There are other inflationary pressures that make gasoline seem like they are going out of sight.

But the fact is real income as grown faster than the real price of gasoline.

Get over it or park it.

Drea · May 2, 2007

$1.21 per litre in the Fraser Valley today.

Gee I wonder how people are going to afford to eat anything trucked in. Dang pathetic these gas prices are.

sharkman · May 2, 2007

This is how silly it's become. A kidnapping in Nigeria is being blamed for the latest jump in gas prices. I am not making this up.

The result? Gas hit 1.28/ltr in parts of Vancouver today. We are being gouged when a mere kidnapping of oil workers in a country across the globe 'causes' flucuation in Canada.

Excerpt:

Six foreign oil workers were kidnapped and a Nigerian sailor was killed when dynamite-wielding militants attacked an oil vessel early Tuesday.

A Nigerian spokesman for California-based Chevron said four Italians, one American and one Croatian were abducted. The company shut down an oil station, decreasing production by 15,000 barrels a day.

What will it take for Canadians to get beyond the shoulder shrug? $2.00?

August1991 · May 2, 2007

What will it take for Canadians to get beyond the shoulder shrug? $2.00?

Canadian retail gasoline prices correlate closely with world crude oil prices. For example, a $1 US rise in the world price of a barrel of crude leads to, more or less, a one cent Cdn rise in the price of a litre of gasoline at the pumps.

For retail prices to rise to Cdn $2.00/litre, the world crude oil price would have to rise to around US $150 per barrel. I don't see that happening anytime soon.

BTW, in real terms (corrected for inflation), crude oil prices are lower now than they were in 1982.

----

The retail gasoline market is very interesting. Few markets have sellers who advertise their price (to a decimal place) in 2-meter digits for all to see. With pay-at-the-pump, the transaction cost is minimal. And buyers typically have a 60 litre reserve or more.

This leads to complex, short term herd behaviour as buyers look at other buyers' behaviour to decide how much to buy. If everyone decided to fill up today, there'd be a shortage and then further panic buying.

----

As to the OP: is it morally wrong to raise gasoline prices? That's an exceptionally ignorant question. The poster should open and read a basic textbook in economics before showing his/her rank ignorance to the world.

The result? Gas hit 1.28/ltr in parts of Vancouver today.

It's a $1.18 at almost all gas stations in Montreal today. (The city of Montreal applies a 3 cent per litre tax to gasoline.)

This gasbuddy site is useful.

jdobbin · May 2, 2007

It's a $1.18 at almost all gas stations in Montreal today. (The city of Montreal applies a 3 cent per litre tax to gasoline.)
This gasbuddy site is useful.

It's a $1.10 in Winnipeg but if you buy from most retailers, you get a 7 cent discount because of a competitive market. I don't know if other cities have a discount. Does Montreal? Calgary?

On weekends, I get a 11 cent discount at Superstore gas stations. That makes Winnipeg's gad cheaper than Calgary's unless they have a discount.

geoffrey · May 2, 2007

We've got various discounts too dobbin, safeway is 7 cents I think. Co-op is like 10 cents added to your yearly dividend.

Personally, I fill up at whever is easy to fill up at. 7 cents a litre is like 3 dollars over a full tank. I'd rather not waste more than a minute for that little of a deal.

People were all "oh my goodness, did you see gas prices today? better go fill up fast," at work today. Silly people. That mentality drives prices up. And realistically, it's not that big of a deal. People make it more trouble than it really is.

gc1765 · May 2, 2007

And realistically, it's not that big of a deal. People make it more trouble than it really is.

Exactly.

I've heard of people waiting in line for gas that is a few cents cheaper per litre. Even if you're filling up, you'll save a few dollars at most. If you spent that time working instead, you'd probably end up richer.

August1991 · May 2, 2007

I've heard of people waiting in line for gas that is a few cents cheaper per litre. Even if you're filling up, you'll save a few dollars at most. If you spent that time working instead, you'd probably end up richer.

Don't laugh. In Russia, I once made a calculation of the average hourly wage based on the time spent in a queue to get a cheaper deal.

I'm sure Canadians are no different.

sharkman · May 2, 2007

Is there anyone around who had to go through the Ontario gas shortage of a couple months ago? Were gas stations gouging then?

guyser · May 2, 2007

Is there anyone around who had to go through the Ontario gas shortage of a couple months ago? Were gas stations gouging then?

I dont recall any gouging, but I do recall having to drive around to find gas. I was lucky when up at the cottage as I just filled up on a whim, and the came to realize later that they were out of gas.

Could have been stuck for a day or two.

eXploiTeD · May 2, 2007

I'm so sick of hearing car-owners whine about the price of gas.

For Gods sake, a liter of gas costs less than a liter of Coca-Cola! I walk to work everyday! Get over it!

moderateamericain · May 2, 2007

gotta love a business that has had record profits for the last 7 years and there product is only going up in price. I also dont see demand telling off anytime soon.