Are rising gas prices really all that bad?

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Are rising gas prices really all that bad? Saturday, May 10, 2008
The london Free Press -- Is it a bona fide shortage, or just speculation? And does it even matter? Oil is a finite resource; they're not making any more of it. Meanwhile, the price of gasoline is going up and common sense dictates it will continue to rise, regardless of what the experts say. Or will it? The price for litre of gasoline has more than doubled in the last decade. Some say it will cost $1.40 a litre by the end of the summer, and maybe twice that by 2012. They say a shortage looms and we're facing unprecedented scarcity.
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JT Moderator	Message Posted: 5/10/2008 9:13:59 AM	Ignore JT Report Abuse
	Saturday, May 10, 2008 The london Free Press -- Is it a bona fide shortage, or just speculation? And does it even matter? Oil is a finite resource; they're not making any more of it. Meanwhile, the price of gasoline is going up and common sense dictates it will continue to rise, regardless of what the experts say. Or will it? The price for litre of gasoline has more than doubled in the last decade. Some say it will cost $1.40 a litre by the end of the summer, and maybe twice that by 2012. They say a shortage looms and we're facing unprecedented scarcity. Visit The london Free Press for full article

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MiJeff Champion Author Grand Rapids Posts:2,830 Points:718,775 Joined:May 2005	Message Posted: 5/23/2008 8:57:59 AM	Ignore MiJeff Report Abuse
	I don't believe there is a shortage of oil
magnumCA All-Star Author Los Angeles Posts:590 Points:136,705 Joined:Jan 2008	Message Posted: 5/13/2008 7:13:23 PM	Ignore magnumCA Report Abuse
	YES YES YES YES YES YES YES YES YES YES
EagleEye16 All-Star Author Nova Scotia Posts:535 Points:95,595 Joined:Jun 2007	Message Posted: 5/13/2008 2:12:45 PM	Ignore EagleEye16 Report Abuse
	Note to Mooseman1 : according to the information found on this website, the average price of gas in Manitoba is 5 cents per litre cheaper than Nova Scotia, and 8 cents a litre cheaper than Newfoundland. If this makes us the "have" provinces, that must be some of that new math. As I have stated before, any windfalls the Provincial Government may receive are not transforming into relief at the pumps for the taxpayers.
EasyMPG Champion Author Ontario Posts:8,958 Points:1,126,955 Joined:Jun 2004	Message Posted: 5/12/2008 12:37:40 PM	Ignore EasyMPG Report Abuse
	Isn't it nice that the NAFTA requires that Canadians sell their oil to Americans in worthless US Greenbacks. Oh how the politicians just love to sell out their citizens to the overlords.
LateNight Champion Author Ontario Posts:1,498 Points:321,755 Joined:Mar 2005	Message Posted: 5/12/2008 11:31:07 AM	Ignore LateNight Report Abuse
	We have enough oilsands to supply Canada and off shore drilling, stop pumpimg it to the United States, get out of opec and set our own market and we will not be paying 1.50 per litre.
44Irish All-Star Author Ontario Posts:589 Points:164,300 Joined:Mar 2007	Message Posted: 5/12/2008 11:20:50 AM	Ignore 44Irish Report Abuse
	No. I really look fotward to the day that I can not pay for gasoline anymore. Think on how much money you will save, no car payment, no insurance payments and no gas payments. But a horse and you can get rid of your lawnmower as well and use the horse for transportation. So please raise them to the max right now and help me save money.
kruk Veteran Author London Posts:364 Points:139,955 Joined:Jan 2007	Message Posted: 5/12/2008 11:18:34 AM	Ignore kruk Report Abuse
	in Canada is cheaper to fly than take train - it is insane
Gerund1 All-Star Author Toronto Posts:596 Points:759,295 Joined:Apr 2003	Message Posted: 5/12/2008 11:00:02 AM	Ignore Gerund1 Report Abuse
	In a word - YES!!!
radrunner All-Star Author Toronto Posts:592 Points:929,590 Joined:Apr 2004	Message Posted: 5/12/2008 10:17:51 AM	Ignore radrunner Report Abuse
	yes. To all the Europe lovers- Canada's a bit bigger.
Mooseman1 Champion Author Manitoba Posts:1,315 Points:180,815 Joined:Jul 2007	Message Posted: 5/12/2008 10:00:51 AM	Ignore Mooseman1 Report Abuse
	Ask Newfoundland, Alberta, Sasketchewan, and the Maritimes provinces if the prices are that bad. Newfoundland has a budget surplus of over $532,000,000 so far this year. [Edited by: Mooseman1 at 5/12/2008 10:01:27 AM EST]
scrounger Champion Author Vancouver Posts:5,615 Points:1,553,335 Joined:Mar 2003	Message Posted: 5/12/2008 9:55:02 AM	Ignore scrounger Report Abuse
	Europe also has a very efficient rail system
Brockvillian Sophomore Author Ontario Posts:206 Points:231,075 Joined:May 2007	Message Posted: 5/12/2008 9:37:09 AM	Ignore Brockvillian Report Abuse
	Europe is still paying more and surviving. I think Canada will do just fine in the long run, though they will be some major road bumps and potholes ahead.
Northerngirl34 Rookie Author Ontario Posts:8 Points:5,285 Joined:Apr 2008	Message Posted: 5/12/2008 9:22:49 AM	Ignore Northerngirl34 Report Abuse
	I'm looking at 124.9 but I'm sure because the long weekend is approaching it will soar
DeHavilland Champion Author Toronto Posts:1,338 Points:327,320 Joined:Jun 2007	Message Posted: 5/12/2008 9:20:50 AM	Ignore DeHavilland Report Abuse
	bicycler is right. The economy can only take so much. With fuel prices going as they are, everything else goes up because of the delivery costs. People stop buying because they don't have the money, and since the economy is consumer based, down it goes since there is less money to go around.
bicycler Champion Author Ontario Posts:5,220 Points:989,395 Joined:May 2005	Message Posted: 5/12/2008 8:56:29 AM	Ignore bicycler Report Abuse
	brutus; It would be a shame if North America fell into a depression(if we are not at the start yet) because of the gas/oil situation. We could arrive at a clean air land with too many people out of work.
bicycler Champion Author Ontario Posts:5,220 Points:989,395 Joined:May 2005	Message Posted: 5/12/2008 8:52:03 AM	Ignore bicycler Report Abuse
	They are not that good!!
radicale Veteran Author Calgary Posts:454 Points:137,445 Joined:Aug 2006	Message Posted: 5/12/2008 8:41:53 AM	Ignore radicale Report Abuse
	Not as bad as Europe (yet!), but it is affecting everything.
Dancin All-Star Author Toronto Posts:999 Points:1,082,010 Joined:Mar 2004	Message Posted: 5/12/2008 8:24:48 AM	Ignore Dancin Report Abuse
	Not if we are making better use of scarce resources.
brutus Champion Author Alberta Posts:1,067 Points:800,780 Joined:Feb 2003	Message Posted: 5/12/2008 8:14:40 AM	Ignore brutus Report Abuse
	High prices mean less fuel will be burned, and LESS pollution.
xle Rookie Author Toronto Posts:38 Points:100,950 Joined:Jul 2006	Message Posted: 5/12/2008 7:59:02 AM	Ignore xle Report Abuse
	the cahnge is too fast and will cause hardship, if not a WW.
DTGas Sophomore Author Ontario Posts:214 Points:85,600 Joined:Feb 2008	Message Posted: 5/12/2008 7:02:46 AM	Ignore DTGas Report Abuse
	I'm sorry but I forgot where I saw this artical, but they said that gas prices would go down when the U.S economy picks up. Also the OPEC nations said that the prices are link to the strength of the U.S dollar. So we may see the prices go down in 2009.
oldtrout03 Champion Author Nova Scotia Posts:8,542 Points:1,249,285 Joined:Aug 2004	Message Posted: 5/12/2008 5:40:35 AM	Ignore oldtrout03 Report Abuse
	It will continue to go up....
Blitzburgh11 Rookie Author Ontario Posts:15 Points:11,750 Joined:Apr 2008	Message Posted: 5/12/2008 3:14:01 AM	Ignore Blitzburgh11 Report Abuse
	zzzzzz.......zzz...z......z.zzz......z.zz.....zz....z......
fastfreddy38 Veteran Author Ontario Posts:291 Points:776,725 Joined:Aug 2005	Message Posted: 5/12/2008 1:25:09 AM	Ignore fastfreddy38 Report Abuse
	Bad enough.
CAR42 Champion Author Ontario Posts:4,413 Points:852,585 Joined:Sep 2005	Message Posted: 5/12/2008 1:24:51 AM	Ignore CAR42 Report Abuse
	GREED
Kathleen2008 Sophomore Author San Bernardino Posts:179 Points:34,465 Joined:Mar 2008	Message Posted: 5/11/2008 11:32:13 PM	Ignore Kathleen2008 Report Abuse
	Sensationalism.. They beleive the public is ignorant.
siouxbear Champion Author Ontario Posts:6,044 Points:466,180 Joined:Aug 2006	Message Posted: 5/11/2008 11:23:51 PM	Ignore siouxbear Report Abuse
	it is a rip off
hawkON Veteran Author Ontario Posts:320 Points:75,840 Joined:Apr 2008	Message Posted: 5/11/2008 8:07:50 PM	Ignore hawkON Report Abuse
	We should always think in long-term and conserve whether price of gas is high or low.
mahenv7 All-Star Author Toronto Posts:515 Points:105,620 Joined:Oct 2004	Message Posted: 5/11/2008 8:03:31 PM	Ignore mahenv7 Report Abuse
	wait till the US elections...
RescueTeam All-Star Author Ontario Posts:560 Points:180,980 Joined:Sep 2007	Message Posted: 5/11/2008 7:53:49 PM	Ignore RescueTeam Report Abuse
	Economic terrorism !!!
lonedog Champion Author Ontario Posts:2,540 Points:435,995 Joined:Sep 2004	Message Posted: 5/11/2008 7:52:31 PM	Ignore lonedog Report Abuse
	The only shortage is in the refining area. There aren't enough refineries to make more gas. There's been no proof, other than higher prices because of fears of a shortage. Every day it's another fear that something is going to happen to cut America off, but nothing happens other than the price going higher. I haven't seen any gas stations running out of gas. According to OPEC they have plenty of oil and can't get rid of it and yet the price continues to rise in fear that we aren't going to get enough. Why should OPEC pump even more oil when they can't get rid of what they have? Then there is the continuing lowering of the American dollar that helps push the price higher. It's past time the American government act and do something. Sure, Bush is on his way out so why should he do anything useful. He's making an even bigger mess for the next person. First things first. Stop buying oil for that Strategic Petroleum Reserve. It's got over 700 million barrels in it now. Instead of trying to add even more to it, let it go to the general public refineries so they can push their operations to the max and try to make some more gas. You'll still have 700 million barrels sitting in the ground doing nothing. Second, ban speculation on the markets. The speculators are only pushing the price higher for no reason other than to make more money. Third, add a super tax on those big gas guzzling trucks and SUV's, that'll make people have a second thought on buying them and wasting more gas joy riding around the country in them and anyone who still buys one will help to pay down that giant American debt that's pushing their country into recession. I'm plenty ticked that I'm paying so much even though I've cut way back on my driving and it looks like I won't be going anywhere for my summer holidays because I can't afford to pay the price of gas for a trip home and back. Ok, I'm done ranting for now. Just hope the government does something soon.
radrunner All-Star Author Toronto Posts:592 Points:929,590 Joined:Apr 2004	Message Posted: 5/11/2008 6:07:03 PM	Ignore radrunner Report Abuse
	they sure are especially on a pension.
theblueskin Rookie Author Edmonton Posts:14 Points:18,985 Joined:Sep 2007	Message Posted: 5/11/2008 4:34:02 PM	Ignore theblueskin Report Abuse
	Good. We are way too dependent on oil and we need something like this to kick our collective asses into a change. It's our own damned fault for guzzling so much of the stuff in the first place. It won't be easy, but I for one, hope the price keeps going up.
mustangus All-Star Author Ontario Posts:597 Points:215,010 Joined:Sep 2006	Message Posted: 5/11/2008 4:30:51 PM	Ignore mustangus Report Abuse
	YES YES YES! rising prices are giving all of humanity problems from gas to food to whatever you can imagine. If smog drops to zero this summer - in your dreams, then you can say that there is a positive effect (or is it affect) by rising oil and gas prices. [Edited by: mustangus at 5/11/2008 4:33:57 PM EST]
Hamish2008 Rookie Author Ontario Posts:20 Points:66,300 Joined:Jan 2008	Message Posted: 5/11/2008 2:08:32 PM	Ignore Hamish2008 Report Abuse
	Only an executive in an oil company or someone else who makes money out of this mess can ask such an asinine question - and enjoy reading the answers.
scrounger Champion Author Vancouver Posts:5,615 Points:1,553,335 Joined:Mar 2003	Message Posted: 5/11/2008 2:03:42 PM	Ignore scrounger Report Abuse
	speculation
POLELANE Champion Author Ohio Posts:1,049 Points:100,675 Joined:Mar 2008	Message Posted: 5/11/2008 1:56:47 PM	Ignore POLELANE Report Abuse
	uñprecedeñted scarcity, but all the tañks are full
Dancin All-Star Author Toronto Posts:999 Points:1,082,010 Joined:Mar 2004	Message Posted: 5/11/2008 12:36:47 PM	Ignore Dancin Report Abuse
	It has risen so far, so fast, that income are falling way behind. We use a lot of energy to heat in the winter in Canada, and don't have a choice about home heat. Home heat pricing is driven by crude oil, which in turn drives natural gas prices. Incomes need to increase faster than inflation in order to keep consumer spending going. Otherwise, we go into debt and that's a killer in the long run.
Gerund1 All-Star Author Toronto Posts:596 Points:759,295 Joined:Apr 2003	Message Posted: 5/11/2008 12:26:00 PM	Ignore Gerund1 Report Abuse
	As with any severe change, there will be a good deal of pain before the learning/technology curve catches up.
RobRD All-Star Author Alberta Posts:666 Points:273,410 Joined:Jul 2007	Message Posted: 5/11/2008 12:19:21 PM	Ignore RobRD Report Abuse
	The rising gas prices will force changes in technology and conservation of fuel as we develop the ideas. This is a good thing.
Bear_Johnson Champion Author London Posts:1,103 Points:384,365 Joined:Sep 2006	Message Posted: 5/11/2008 12:03:50 PM	Ignore Bear_Johnson Report Abuse
	The areas that should be helped by the high prices, conservation of fuel and alternative sources of energy are lagging far behind
Outie Veteran Author New Brunswick Posts:480 Points:400,675 Joined:Oct 2005	Message Posted: 5/11/2008 11:27:50 AM	Ignore Outie Report Abuse
	The higher it goes the harder it will fall. Unless the electric CAR saves the day.
choppercrv Veteran Author Vancouver Posts:397 Points:662,925 Joined:Aug 2003	Message Posted: 5/11/2008 11:10:21 AM	Ignore choppercrv Report Abuse
	kruk is right.
RandyK9 Champion Author London Posts:3,044 Points:600,145 Joined:Jul 2006	Message Posted: 5/11/2008 10:19:21 AM	Ignore RandyK9 Report Abuse
	YES where do you live & Drive????
DeHavilland Champion Author Toronto Posts:1,338 Points:327,320 Joined:Jun 2007	Message Posted: 5/11/2008 9:50:03 AM	Ignore DeHavilland Report Abuse
	kruk is right.
kruk Veteran Author London Posts:364 Points:139,955 Joined:Jan 2007	Message Posted: 5/11/2008 9:45:12 AM	Ignore kruk Report Abuse
	wow, what a question - next thing this guy will say that customers asked for it - he needs help.
radicale Veteran Author Calgary Posts:454 Points:137,445 Joined:Aug 2006	Message Posted: 5/11/2008 9:43:14 AM	Ignore radicale Report Abuse
	Speculation - there are tons of producing wells in the Arctic alone - the environmentalist groups just make it more expensive to get that down to use. The want the $ to go up....
bicycler Champion Author Ontario Posts:5,220 Points:989,395 Joined:May 2005	Message Posted: 5/11/2008 9:42:43 AM	Ignore bicycler Report Abuse
	fastfreddie38; So true !
bicycler Champion Author Ontario Posts:5,220 Points:989,395 Joined:May 2005	Message Posted: 5/11/2008 9:41:40 AM	Ignore bicycler Report Abuse
	masens; Supply and gouge!!!
bicycler Champion Author Ontario Posts:5,220 Points:989,395 Joined:May 2005	Message Posted: 5/11/2008 9:40:39 AM	Ignore bicycler Report Abuse
	brutus; You obviously can afford to dabble in the market but their are many, many who can not. Do you have any compassion for them? You are both the winner and the victim while those who are less fortunate are just victims whose standard of living has gone down! I do have enough to get along but I can assure you that though I would like to have the dividends enjoyed by oil investors I would never invest with an industry that gouges the public as the oilbarons do !

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