[NotRevSeen]

http://i.imgur.com/qaTwOC4.png

I feel bad for Albertans. The whole province is dependent on oil profits. If this continues there's going to be mass layoffs in the oil sector.
This is also going to suck for the Canadian economy. Can already see it with the value of the Canadian loonie dropping substantially.
F U C K!!!

[StylinRed]

yeah the saudis aren't cutting production

the US et al. realizes their sanctions on Russia aren't doing any damage so they're hitting them where it hurts

[murd0c]

Why feel bad for the Albertans? They don't have PST and they make tons of money... This was bound to happen sooner then later but the thing I'm more worried about is the government won't be making as much money from the fuel tax they rape us with so hopefully they don't try to raise our PST on top of the .5% they want to raise for the transit tax they have been speaking about.

[flagella]

Lol don't know why you are feeling bad too. This is nothing new and commodities are cyclical in nature.

[meme405]

Why feel bad for the Albertans? They don't have PST and they make tons of money... This was bound to happen sooner then later but the thing I'm more worried about is the government won't be making as much money from the fuel tax they rape us with so hopefully they don't try to raise our PST on top of the .5% they want to raise for the transit tax they have been speaking about.

Your missing a big part of the point here.

If the price of oil crashes to a certain point (and it almost already has) its not feasible to operate the sands any longer. If they shut down the sands, this entire country will feel the pain. Not just Alberta, or the workers who were up there.

The oil sands currently employ 121,500 people DIRECTLY. Even more people are indirectly employed across the country. Whats going to happen when half of these jobs disappear before the 2015 construction season opens?

Those guys move back home unemployed, guess what, their going to take away work from local construction workforces all over the country.

[quasi]

Your missing a big part of the point here.

If the price of oil crashes to a certain point (and it almost already has) its not feasible to operate the sands any longer. If they shut down the sands, this entire country will feel the pain. Not just Alberta, or the workers who were up there.

The oil sands currently employ 121,500 people DIRECTLY. Even more people are indirectly employed across the country. Whats going to happen when half of these jobs disappear before the 2015 construction season opens?

Those guys move back home unemployed, guess what, their going to take away work from local construction workforces all over the country.

Tradesmen are stupid hard to come by in Saskatchewan and Alberta it could be a blessing in disguise for those Provinces. The company I work for built a new Police Station in Saskatoon, we had to fly 95% of our labour in from other places and lodge them, needless to say that job didn't go to well for us. We've had the same issues in Calgary and Edmonton. I'm not saying it's all good as it tends to drive prices down but right now you can't hire anyone worth a salt in either of those provinces. The wages they are demanding are also pretty ridiculous, piece work rates are almost double what you'd get here and I'm not talking about working in little towns, in cities like Calgary.

Saying all that it's not great for places like the lower mainland as construction prices are already in the shitter, introducing more labour only drops them more. The other catch 22 is construction in Alberta and Sask is booming because of Oil and Gas.....LOL not sure where I stand on this. :)

[Godzira]

pretty sure Alberta will be alright for a while ... lol.

[murd0c]

Your missing a big part of the point here.

If the price of oil crashes to a certain point (and it almost already has) its not feasible to operate the sands any longer. If they shut down the sands, this entire country will feel the pain. Not just Alberta, or the workers who were up there.

The oil sands currently employ 121,500 people DIRECTLY. Even more people are indirectly employed across the country. Whats going to happen when half of these jobs disappear before the 2015 construction season opens?

Those guys move back home unemployed, guess what, their going to take away work from local construction workforces all over the country.

It's at a 5 year low and the oil sands were around back then and they will be around if the prices drop more... I work in the oil gas industry and not a single person is worried since the major oils make billions of billions of dollars of profit a year and will still keep on making profit because if they start losing the gas prices will rise again which happens all the time.

[Godzira]

I feel like the only one excited that gas prices are dropping

[pastarocket]

From an investor standpoint, you can make a tonne of money on the stock market by buying exchange traded funds (ETFs) that are pegged to the price of oil, or short sell oil stocks. People have been short selling oil stocks since the summer.

If the price of oil keeps going down, consider getting into the market quickly on ETFs. :whistle:

e.g. Horizons Meta Pro Bear (Bear as in falling price of oil) (T.HOD). This ETF's returns are based on oil futures contracts.

[Timpo]

I feel like the only one excited that gas prices are dropping

people will buy gas regardless, if I was an investor, I'd be hesitant to drop the price

[Godzira]

people will buy gas regardless, if I was an investor, I'd be hesitant to drop the price

it's inevitable gas prices will drop, they were down to 87 cents/litre in Edmonton last week. That's highschool day prices :fuckyea:

[ancient_510]

From an investor standpoint, you can make a tonne of money on the stock market by buying exchange traded funds (ETFs) that are pegged to the price of oil, or short sell oil stocks. People have been short selling oil stocks since the summer.

If the price of oil keeps going down, consider getting into the market quickly on ETFs. :whistle:

e.g. Horizons Meta Pro Bear (Bear as in falling price of oil) (T.HOD). This ETF's returns are based on oil futures contracts.

Disclosure: No positions at time of writing?

Shorting is irresponsible and opens you to unlimited risk.
Generally, inverse ETFs and options are much better.

[6o4__boi]

:fuckthatshit:

people going crazy overanalyzing this and i'm just happy gas prices are cheap as fuck

it'll be back up soon enough. be happy with it while its still around.


Feel bad for Alberta? :fuckthatshit:

[Hondaracer]

It's at a 5 year low and the oil sands were around back then and they will be around if the prices drop more... I work in the oil gas industry and not a single person is worried since the major oils make billions of billions of dollars of profit a year and will still keep on making profit because if they start losing the gas prices will rise again which happens all the time.

No offense but the people who work in oil and gas who "aren't concrened" are just the ignorant grunts who peice pipe together.

That's how all my buddies who work in Alberta think "lol they make so much money they'll never stop"

No company, regardless of profit, can operate at a third of their overall income.

If a construction company that builds houses had a cut of 2/3 their income they would be bankrupt over night. Same for the vast majority of companies in all industries. The oil and gas sector is far from immune.

Massive companies like Suncor etc can obviously operate at a loss for a while but there comes a breaking point.

Apples and oranges I know, but my brother is an engineer with Taseko at their copper mine in williams lake, the surplus of processable materials they run at is only 1.5-2 days. If copper prices were to drop below a manageable level, they would shut down immediately and only retain a force for maintenance.

The ignorance in Alberta, especially people working in the industry is astounding. Obviously it attracts a certain crowd to begin with but when Somone who's worked in oil sands for multiple years can't tell you the basics of the industry, eventually it's in for major correction.

[iEatClams]

Your missing a big part of the point here.

If the price of oil crashes to a certain point (and it almost already has) its not feasible to operate the sands any longer. If they shut down the sands, this entire country will feel the pain. Not just Alberta, or the workers who were up there.

The oil sands currently employ 121,500 people DIRECTLY. Even more people are indirectly employed across the country. Whats going to happen when half of these jobs disappear before the 2015 construction season opens?

Those guys move back home unemployed, guess what, their going to take away work from local construction workforces all over the country.

market forces will shift these workers to other industries that requires labour. I read an article that the forestry industry in BC and AB were heavily underutilized because all the workers were going to oil because they can make more money.

Plus what about all those mining companies that "needed" temp foreign workers? Well, now they can recruit the oil workers that have been laid off.

Yes it will hurt our economy, but people will adapt. Plus the low dollar means manufacturing and producers will have it easier - so provinces like ontario will gain.

Last thing, with gas prices this low, i know im saving $800 a year on gas. 40-45 cents a litre drop (from $1.50/1.55 to $1.10) will save the average person quite a bit of money.

[noclue]

Plus those ignorant grunts are usually the ones up to their eyeballs in debt for a new F350 dual wheel turbodiesel and booze/drugs/girls etc.

Already I've been reading layoffs in Grande Prairie, Cold lake. I foresee a lot of repo's next year.

[Mining]

It's at a 5 year low and the oil sands were around back then and they will be around if the prices drop more... I work in the oil gas industry and not a single person is worried since the major oils make billions of billions of dollars of profit a year and will still keep on making profit because if they start losing the gas prices will rise again which happens all the time.

It is all about feasibility. Major oils do not make billions on billions.. especially not oil sands. They aren't indestructible. There have been companies who invested millions of dollars into a project and then went bankrupt or shutdown do to commodity prices and the cost of operating.

I wouldn't be surprised if a company who invested billions (major oils) could shut down either. There have been many changes this year due the price of oil dropping (getting rid of benefits, lay-offs, etc) to save as much as they can to survive.

[meme405]

You guys are living in this dream world.

Any industry, I don't care if its banking, car sales, or even BC Hydro. If I slash the price a customer pays for the same service by 1/2, and everything else remains the same, that company is going to be royally FUCKED.

If you think that anyone operates at a 50%+ margin, you are completely out of touch with reality. If the price of oil continues to decline or doesn't go up, I know for a fact that there are countless construction and operations jobs which will be up in the air come the new year.

Like I said some of you are being pretty short sighted with your views on this. The price of gas coming down is one thing, and there are those industries which benefit from that.

But it comes at the price of trades peoples losing their jobs, or taking jobs away from others. What happens when that trades person who was making 300k a year now makes $15 an hour working as a labourer in town?

Not only is he taking away that job from that kid in town, but guess what he's probably no longer going to go buy that $85K truck, and drop $2k at the bar every night on his turnarounds.

Many of "you guys" (the royal you), have been reaping the benefits of the input of our money into the system for a long time.

Our money was your money, so when our money dries up, so does yours. The difference? You lived off that money, we just had fun with it.

[123654123]

The economy is going to take a hit but right now...

http://i.imgur.com/6Z2vtCA.gif

[will068]

If an industry group struggles, the people with it wil be forced to move. E.g. Tech Bubble Burst of the early 2000. Tons of professionals in IT never got back. There were not enough jobs anymore and they switched industries.

As for this crude oil price dropping, I will be benefitting from this. Most of my clients are US based utility and telco corporations. They serve the massess in the US. Gas prices being lower is like a tax cut for the masses (not just the upper class). So the US economy will slowly improve if crude oil supply is high and gas prices are low. When my clients have money, this money trickles down to me.

Keep in mind, a lot of RS isn't in this industry group. We are also Doctors, Lawyers, Dentists, Engineers, Entrepreneurs , Small Business Owners, Corporate Directors/Managers or even Executives, or even just at the technical core level of the corporate ladder. Regardless, a lot of us do benefit from this because this is like a tax cut for us as well.

Edit:

I'm surprised no one posted a thread about this much earlier (e.g. when crude hit $80).

[will068]

From an investor standpoint, you can make a tonne of money on the stock market by buying exchange traded funds (ETFs) that are pegged to the price of oil, or short sell oil stocks. People have been short selling oil stocks since the summer.

If the price of oil keeps going down, consider getting into the market quickly on ETFs. :whistle:

e.g. Horizons Meta Pro Bear (Bear as in falling price of oil) (T.HOD). This ETF's returns are based on oil futures contracts.

Options young fella. Get some Put strategies in place.

[Gucci Mane]

dollar is shit, oil prices are tanking. fuck... i might get laid off in 2015.

[underscore]

If things start to get tight in the sands it might force some of these companies to stop wasting so much fucking money on dumb shit, although I doubt it. I've still got piles of work and I haven't heard of much being cancelled or postponed beyond the norm so from where I'm sitting it doesn't look like a lot of the big producers in the sands are terribly concerned.

[ts14]

Perfect! Air care is expiring and gas prices are low again!


STRAIGHT PIPE ALL THE CARS AND USE BEST GAS :fuckyea:

[Ulic Qel-Droma]

short oil futuresssss

+1500%

for you speculators and consumers, oil will stay low for a while.

[jasonturbo]

Nothing to see here, oil price drops, consumer spending picks up, USA recovery gets a boost, oil prices revert to the mean as a result of increased consumer spending and by summer it's back to the mean.

I can assure you most of the producers in the sands are profitable at much less than 25$/bbl, some of the small caps are not, but they are barely responsible for any production or job creation.

Though it's worth noting that as the loonie drops the netbacks for producers also drop due to the echange rate.

Saudi Arabia you so cray... Way to punish the smaller and poorer OPEC members.

[multicartual]

USD to CAD going back up!


Win for me!!!

[vudooca]

keep an eye out for other industries in Canada... cheap oil prices might give them the boost they need to do well... think mining... potash... rare earth metals... tungsten?! etc

[murd0c]

that's the big thing.. Yes the price of oil is going down but with the Canadian dollar going down as well a lot of companys that export are going to be really benefiting out of it.

[bloodmack]

just paving the way for clean energy, which employs more than the oil industry now (at least in canada),

[jasonturbo]

just paving the way for clean energy, which employs more than the oil industry now (at least in canada),

I'm not sure where you got that information from but I am fairly certain it is not correct.

[belaud]

Perfect! Air care is expiring and gas prices are low again!


STRAIGHT PIPE ALL THE CARS AND USE BEST GAS :fuckyea:

Best gas = blown motor for me :okay:

[Gh0stRider]

1.25 for 94 octane :)

[twitchyzero]

Nothing to see here, oil price drops, consumer spending picks up, USA recovery gets a boost, oil prices revert to the mean as a result of increased consumer spending and by summer it's back to the mean.


I've zero background in business, care to explain?
Directly, it's not like people have stopped driving altogether because of higher prices at the pump? Or do you mean less canadians consumers will buy cross-border US gas because of the loonie tanking?

[asian_XL]

THIS is what gas price supposed to be!

http://storage.edmontonsun.com/v1/dynamic_resize/sws_path/suns-prod-images/1297615758416_ORIGINAL.jpg?quality=80&size=650x

[sdubfid]

I've zero background in business, care to explain?
Directly, it's not like people have stopped driving altogether because of higher prices at the pump? Or do you mean less canadians consumers will buy cross-border US gas because of the loonie tanking?

Got my business degree in a box of cheerios but I think he is saying that people spend less on fuel so they have more to spend on direct port nitrous injection.

[Manic!]

Got my business degree in a box of cheerios but I think he is saying that people spend less on fuel so they have more to spend on direct port nitrous injection.

Don't forget the Motec exhaust.

[SkinnyPupp]

THIS is what gas price supposed to be!

http://storage.edmontonsun.com/v1/dynamic_resize/sws_path/suns-prod-images/1297615758416_ORIGINAL.jpg?quality=80&size=650x
Right when I got my first car.. frequent road trips and just driving around was so fun

[hotjoint]

THIS is what gas price supposed to be!

http://storage.edmontonsun.com/v1/dynamic_resize/sws_path/suns-prod-images/1297615758416_ORIGINAL.jpg?quality=80&size=650x

Ahhh I remember those days :accepted:

[underscore]

just paving the way for clean energy, which employs more than the oil industry now (at least in canada),

Most "clean" energy isn't actually very clean.

[hillmar]

Tanking CAD is really benefiting my work. We export our products in USD, we are making a killing vs when the loonie was about par a few years back!!

[SkinnyPupp]

Most "clean" energy isn't actually very clean.
Genuinely curious - in what ways is it dirtier?

I know nuclear produces a lot of waste, but they're working on ways to be able to use that waste.

[MG1]

Right when I got my first car.. frequent road trips and just driving around was so fun

That's how much it was per gallon back in my day, and yes, we were not metric back then.


And, crossing the border was a snap. (kind of random, but was just thinking back to those days)

[DragonChi]

Genuinely curious - in what ways is it dirtier?

I know nuclear produces a lot of waste, but they're working on ways to be able to use that waste.

Solar requires heavy metals, or at least used to, and manufacturing panels can have an environmental cost. It too doesn't produce energy forever, eventually they need to be replaced.

Hydro requires dams and dislocation of inhabitants of the lands it floods.

Wind has health issues for those who live near them, and can change temperatures geographically.

Hydrogen requires lots of energy to produce, and the equipment that produces it doesn't last very long.

Solar plants that concentrate sunlight to run steam generators, fry birds that fly over them.
http://www.cbc.ca/news/technology/brightsource-solar-plant-sets-birds-on-fire-as-they-fly-overhead-1.2739512

But the idea to those isn't how dirty they are, it's about being sustainable for the future of the planet. We've had oil for about 150 years, I'm not sure we can keep using oil for 1000. However, it's currently the best way we have to store energy, and that won't change until we've found a new way to store it. IMO, we won't stop using oil because it's so damn easy use and get.

Edit: Actually, we'll probably be using it for next 1000, we just won't be getting it from the ground.

[MG1]

Like the old saying goes, "Can't get something for nothing."


Energy cannot be created or destroyed, but the byproducts from the process of changing it from one form to another is what's a bitch.

[jasonturbo]

For those who would like to learn a bit more about the relationship between the exchange rate and the price of oil;

http://www.economicinsight.ca/economic_docs/2009may_oilprices.pdf

Clean energy is cleaner, yes mining yellow cake and producing heavy water for nuclear does produce some degree of environmental impact, yes hydro causes problems with the local wildlife and erosion of the river bed, yes wind turbines explode bats due to pressure differential - but nothing pollutes like coal power generation :s

[meme405]

just paving the way for clean energy, which employs more than the oil industry now (at least in canada),

It's one thing to pull stats completely out of your ass.

It's another thing entirely to get it so damn wrong.

Our so called "dirty" energy keeps 541,000 people employed across Canada.

Please do tell me how many people your "clean" energy employs.

It's worthwhile to note that I am actually currently employed on a clean energy project (atleast partially), and the jobs created, and planned to be created by the project is minimal at best. The turbines come from the US, the mill sections themselves come from Denmark, etc.

Go have a look for yourself, most people don't even know anything about Meikle Wind.

[CP.AR]

this is fantastic
Bigger annual profit share wooohooooooo

[SkinnyPupp]

Solar requires heavy metals, or at least used to, and manufacturing panels can have an environmental cost. It too doesn't produce energy forever, eventually they need to be replaced.

Hydro requires dams and dislocation of inhabitants of the lands it floods.

Wind has health issues for those who live near them, and can change temperatures geographically.

Hydrogen requires lots of energy to produce, and the equipment that produces it doesn't last very long.

Solar plants that concentrate sunlight to run steam generators, fry birds that fly over them.
BrightSource solar plant sets birds on fire as they fly overhead - Technology & Science - CBC News (http://www.cbc.ca/news/technology/brightsource-solar-plant-sets-birds-on-fire-as-they-fly-overhead-1.2739512)

But the idea to those isn't how dirty they are, it's about being sustainable for the future of the planet. We've had oil for about 150 years, I'm not sure we can keep using oil for 1000. However, it's currently the best way we have to store energy, and that won't change until we've found a new way to store it. IMO, we won't stop using oil because it's so damn easy use and get.

Edit: Actually, we'll probably be using it for next 1000, we just won't be getting it from the ground.

Solar requires heavy metals

Is that worse than releasing tons of carbon into the air?

Wind has health issues for those who live near them, and can change temperatures geographically

What kind of health issues? Source for temperature changes? (and not from a whackjob source please) Are these issues worse than releasing tons of carbon into the air?

Solar plants that concentrate sunlight to run steam generators, fry birds that fly over them.

Is killing a bunch of birds worse than releasing tons of carbon into the air?

These are genuine questions... If these are the biggest issues people come up with, it's not a very good argument against alternative energy.

[DragonChi]

Is that worse than releasing tons of carbon into the air?

It's a scaling issue, as I see it, if we replaced our energy needs with solar, it would be an incredible amount of panels we would need. When they become useless, what do we do with them. Releasing tons of carbon into the air might not seem so bad after that.

What kind of health issues? Source for temperature changes? (and not from a whackjob source please) Are these issues worse than releasing tons of carbon into the air?

Imagine not being able to sleep for hours on end, it's like a slow death. I would take tons of carbon into the air if it meant a release from suffering.

As for the temperature changes, i've heard that there was a wind farm around the gulf of mexico or southern US that raised the oceans temp by a couple degrees. It was in another thread.
http://www.nasa.gov/topics/earth/features/tx-wind-farm.html
http://www.engadget.com/2012/04/30/study-wind-turbines-raise-area-temperature-/

They can be issues if the wind farms scale up to the space we need them to. Which would probably disrupt wildlife and nearing human population. I don't know if it's worse because it's comparing apples to oranges. Mass of carbon vs disruption/health issue.

Wind turbine noise not linked to health problems, Health Canada finds - Technology & Science - CBC News (http://www.cbc.ca/news/technology/wind-turbine-noise-not-linked-to-health-problems-health-canada-finds-1.2826206)

Is killing a bunch of birds worse than releasing tons of carbon into the air?

Same thing with solar, scaling up to produce more energy from this method takes up more habitat/land.

These are genuine questions... If these are the biggest issues people come up with, it's not a very good argument against alternative energy.

Maybe if I'm bored enough, I'll do a calculation of how much land we need to replace our energy needs with solar fields. But i'm kinda tired right now.

You're right, those are weak ass reasons against alternative energy. The real reason is money.

[underscore]

Solar/wind aren't practical on a large enough scale to be significant, solar panels are very dirty to make and aren't very efficient once they are made. For cars, anything with battery systems are nasty to make because of all the shit in the batteries that has to be shipped all over the place and then dealt with when the battery is fried 5 years later. Cargo ships are notoriously nasty things compared to cars, so the ship used to transport all the batteries will likely offset any gains from running on electrics anyways.

The move to actually cleaner energy I understand from a pollution perspective, the whole climate change schmozzle is a different story since the last I checked nobody could conclusively prove that climate change was actually human caused.

[SkinnyPupp]

last I checked nobody could conclusively prove that climate change was actually human caused.
Where did you last check? because outside the fanatical right wing fringe, it seems to be the scientific consensus.

I have been agnostic on that issue for years, but everything I look to that isn't written by nutjobs suggests that...

[SkinnyPupp]

Maybe if I'm bored enough, I'll do a calculation of how much land we need to replace our energy needs with solar fields. But i'm kinda tired right now.

You're right, those are weak ass reasons against alternative energy. The real reason is money.
Those are practical problems that need practical solutions. Obviously solar power isn't the solution to everything - it depends on the scale. To even suggest using solar panels to replace all our energy needs... you must be tired if you're not just being sarcastic.

The most practical clean energy is of course nuclear, but I really hope we can find a way to use it more efficiently. Having piles of nuclear waste sitting around can't be good.

[multicartual]

I see dropping gas prices as incentive to hoon

[Ulic Qel-Droma]

well Lockheed has their bets on having an operational fusion based reactor in 10 years, it's already been in the works for 4 years.

They're dumping a lot of money into alternative energy sector to hedge against cutbacks on military spending.

I think we will see an exponential increase in the rise of efficiency in alternative energy in the next few decades... and that's when we'll have TRUE population problems.

[DragonChi]

well Lockheed has their bets on having an operational fusion based reactor in 10 years, it's already been in the works for 4 years.


Yeah those Lockheed Martin claims are pretty big. Fusion has also been 50 years away, every year.


The most practical clean energy is of course nuclear, but I really hope we can find a way to use it more efficiently. Having piles of nuclear waste sitting around can't be good.
There's also the idea of have a mini reactor for every neighbourhood kicking around too. There are new reactors out there that use spent fuel too. From what I understand, progress is so slow in the nuclear industry because there's so much red tape and regulation. It's warranted of course.


I think we will see an exponential increase in the rise of efficiency in alternative energy in the next few decades... and that's when we'll have TRUE population problems.

One day our population problem will be so bad, we'll have collapsed all the fish stocks and will be reduced to eating algae pellets. I don't see that happening in my lifetime though.

I think climate change is going to happen whether it be natural or human. But the human cause makes it happen waaaay faster. I for one would like Canada to get warmer. LOL

[jasonturbo]

Hmmmm global population is expected to settle at around 10B with only Asia and Africa seeing significant increases in population - if I'm not mistaken the Americas will only see an additional 1B at most, and this side of the planet can easily support that population. (Fertility rates drop as life expectancy increases)

Projections of population growth - Wikipedia, the free encyclopedia (http://en.m.wikipedia.org/wiki/Projections_of_population_growth)

Clean energy is no doubt the future, the biggest change imo will be the increase in centralization and use of mass transit, incorporation of energy reduction in planning and construction of the cities of the future etc. We will still use oil/gas but hybrids will be the new norm and we will be well beyond a simple catalityc converter to reduce emissions. Urban sprawl will die a well deserved and painful death.

I'm actually strangely optimistic about the future for being such a realist lol though I will say that I feel less optimistic regarding certain geographic areas... Namely the Middle East and Africa... I think China will do alright if they actually straighten out their political problems.

[Reeyal]

THIS is what gas price supposed to be!

http://storage.edmontonsun.com/v1/dynamic_resize/sws_path/suns-prod-images/1297615758416_ORIGINAL.jpg?quality=80&size=650x

Sure, the price of gas was cheap, but the fuel economy of vehicles was terrible back then.

[ScizzMoney]

Solar Power is bad because when we take all the energy from the Sun we won't have a Sun anymore.
:derp:

[b0unce. [?]]

But diesel is still expensive! :(

[Nomomo]

http://www.youtube.com/watch?v=obS6TUVSZds

http://www.youtube.com/watch?v=HOZBrHqTJk4

[Nomomo]

Sure, the price of gas was cheap, but the fuel economy of vehicles was terrible back then.

Take your fist out of your anus and tell me how much better mpg Honda has gotten from now vs the 80's hondas

[blkgsr]

i think he's probably referring to the good old 5L's and other muscle cars of the day compared to the higher horsepower much better fuel economy versions of today

[ancient_510]

Bit of a rough ride today for us who are short oil.
Don't get scared.

[Ulic Qel-Droma]

Bit of a rough ride today for us who are short oil.
Don't get scared.

it's a bull trap. they're all gonna go hang themselves in the washroom over the next few weeks.

[GtRawr]

Sweet so save 800 a year on gas but make 60k less working commercial..

[Tegra_Devil]

96.9 in Kamloops...woot!

[meowjinboo]

The rubble is crashing.

[Ulic Qel-Droma]

The rubble is crashing.

it can say it's probably on purpose.

the purpose though, i duno.

[meme405]

it can say it's probably on purpose.

the purpose though, i duno.

To put pressure on the Russians.

Why else would the US start dipping into their own oil reserves.

It's also really funny how just as Russia seems to show a steadiness, the US signals for more sanctions. Its like they have a belt around Russia's neck, and every time the country exhales a little sigh of relief, the US tightens that belt even further.

[SkinnyPupp]

Russia fucked around trying to take over the European natural gas industry. They failed hard and are now suffering the consequences.

[jasonturbo]

Russia fucked around trying to take over the European natural gas industry. They failed hard and are now suffering the consequences.

Bingo. (At least IMO)

[godwin]

It is more like Saudi wants to pressure Iran and Qatar to fold.. and also make sure the tarsands and North Dakota crude is not economically viable (might not be a bad thing for us, at least it will get the environmentalists off our backs for a while).

Russia is just a side show. It is not even OPEC.

Either way, Russia is and will be the only economical LNG supplier to Europe (a lot of fracking projects in Europe turn up bubkuss) .. Europe right now just wants a regime change, because they know Russia holds them by the balls.

Russia fucked around trying to take over the European natural gas industry. They failed hard and are now suffering the consequences.

[DragonChi]

Maybe relevant to the climate change discussion. What It Would Really Take to Reverse Climate Change - IEEE Spectrum (http://feedproxy.google.com/~r/IeeeSpectrum/~3/yxTdnW6dyZE/what-it-would-really-take-to-reverse-climate-change)

[DragonChi]

Correc me if I'm wrong. It's the Saudis and US creating the dip in oil prices?

[koukimonst3r]

It's apparently $66/barrel right now, lots of contractors getting laid off here at CNRL. It'll definitely be cheaper next year.

[Mr.HappySilp]

It is more like Saudi wants to pressure Iran and Qatar to fold.. and also make sure the tarsands and North Dakota crude is not economically viable (might not be a bad thing for us, at least it will get the environmentalists off our backs for a while).

Russia is just a side show. It is not even OPEC.

Either way, Russia is and will be the only economical LNG supplier to Europe (a lot of fracking projects in Europe turn up bubkuss) .. Europe right now just wants a regime change, because they know Russia holds them by the balls.

Russian ruble firms sharply as government pressures exporters | Reuters (http://www.reuters.com/article/2014/12/17/us-russia-crisis-rouble-idUSKBN0JV0L520141217)

hard to say what will happen next. But from what I read it seems Ruble have fallen over 50% since the beginning of this year?

[Traum]

If oil prices remain low, and Russia continues to try and back the Ruble without making huge concessions on Ukraine, they are not going to last long. They will run out of foreign reserves, and then the Russian national finance system as well as their economy will collapse. Along with it, the Russian state will probably face a huge risk of collapsing as well.

Naturally, the smartest thing Putin could do is to pull out of Ukraine, and tell the Russian government to do nothing and just let the Ruble depreciate. Yes, the Ruble will be hit hard, and Russia will face a harsh recession for a few years. But at least they can preserve their foreign reserves for things and situations that are really necessary, and a low Ruble along with assistance from RoW could help their non-oil-related export sector rebound.

Given Putin's nature and ego, however, I totally doubt he will go along with the above plan at this point. This tyrant values his face and ego more than a lot of other things.

[NotRevSeen]

TSX sheds 380 points as oil trades below $50 a barrel - Business - CBC News (http://www.cbc.ca/news/business/tsx-sheds-380-points-as-oil-trades-below-50-a-barrel-1.2889823)

[multicartual]

Hope that loonie drops like a rock!!!

[Hondaracer]

Bitcoin sure took a nose dive with the rubel drop

[meme405]

Hope that loonie drops like a rock!!!

Are you perhaps making a foray into a field which exports...organic...matter to the US? :ifyouknow:

[multicartual]

Are you perhaps making a foray into a field which exports...organic...matter to the US? :ifyouknow:


I would never get involved with anything illegal outside of big burnouts and backstreet hooning because my freedom is priceless

[6o4__boi]

holy shat...gas is 99.9 at the PoCo Costco...never thought i'd see the day gas dips under a dollar again.

[hotjoint]

I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.

[Hondaracer]

I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.

This time around it will likely be effected moreso.

Canada producing oil, canadian GDP increases, dollar rises accordingly.

BTW, filled up at 97.9 in aldergrove on the weekend.

[Hondaracer]

edit double post

[Carl Johnson]

I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.

Terence Corcoran: The end of Canada’s oil superpower pipe dreams


Terence Corcoran (http://business.financialpost.com/author/terencecorcoran/) | January 6, 2015 | Last Updated: Jan 6 9:39 PM ET
More from Terence Corcoran (http://business.financialpost.com/author/terencecorcoran/) | @terencecorcoran (http://twitter.com/terencecorcoran)

http://wpmedia.business.financialpost.com/2015/01/keystone-pipeline.jpg?w=620AP Photo/Pablo Martinez Monsivais, FileWhen even a Republican-dominated Senate can’t muster enough support to force the Barack Obama’s hand, it’s a sure sign that activist opponents of Keystone dominate the pipeline decision-making process.


The Washington dust has not yet settled around Canada’s Keystone XL pipeline, but the fuzzy images visible Tuesday through the political storm do not look promising. Nothing in the current play of politics and oil prices would lead to the conclusion that Keystone will ever get approved.

But it’s worse than that for Canada. As the world oil market swirls, not just Keystone is at stake. The greater risk is that the great national global energy superpower dream is going down the drain, washed away by a confluence of forces over which Canada has no control.

On Tuesday, the White House said President Barack Obama would veto the latest Republican effort to push a Senate Keystone bill through Congress. It was an easy decision for the President to announce, since it appears the Senate failed to come up with the necessary 67 votes to override Mr. Obama’s veto.

When even a Republican-dominated Senate can’t muster enough support to force the President’s hand, it’s a sure sign that environmentalists and other activist opponents of Keystone still dominate the pipeline decision-making process.

While Canada’s dreams of exporting more oil sands production to the United States face a grim political environment, the economic environment looks even shakier. The price of West Texas crude dropped to $47.65 during trading Tuesday, and there was no reason to believe the oil price crash is near an end. At that price, Canada’s big pipeline plans could turn to pipe dreams.

The plunge in price of oil is more than just a surprise. This is what in official economic jargon is called an economic shock. Mostly, it seems to be a supply shock — brought on in part by the surge in U.S. shale production that in turn was created by technological change that is now sweeping the world.

Back in 2011, then Natural Resources Minister Joe Oliver told Washington that if Keystone were not approved, Canada had other options to “sell the oil elsewhere.” Oil industry officials blasted America with bravado: “OK pipe or lose our oil.”

Maybe that sounded tough in November, 2011, but since then the United States has emerged as the world’s fasted growing oil producer and the world’s largest oil producer.
http://wpmedia.business.financialpost.com/2015/01/oil_c_jr.jpg?w=399&h=290

When Mr. Oliver made his veiled threat to sell Canadian oil elsewhere, American oil production languished at 6,000,000 barrels a day, not far off its modern-day low. Then came the American shale oil revolution (See graph). In October, 2014, U.S. oil production hit 9,000,000 barrels a day, an increase of 50% over three years and one of the major causes of the current oil price cash. The U.S. oil output boom has also blown a big hole in peak oil theory, which has long dined out on the idea that the United States was a model for the theory on the grounds that U.S. oil output had “peaked” in the 1970s. That peak may soon be surpassed.

And so now, instead of Canada selling oil elsewhere, the United States is selling its oil elsewhere. The day before New Year’s Eve, the Obama administration lifted a 40-year-old ban on oil exports that had been imposed as part of Middle East oil embargoes during the 1970s.

There’s more to the world oil price shock than U.S. shale production, and geopolitical forces — in Russia, the Middle East, China, OPEC — could shift to reverse the price trend. Some say the shale revolution will run out of steam and the price of oil will soon shoot back up. Maybe, but in the meantime Canada’s energy ambitions are in a dangerous losing position.

The promoted alternatives to Keystone, Northern Gateway to the West Coast and the much-touted Energy East line through to Quebec and New Brunswick, are almost certainly uneconomical if the price of oil were to hang in at below $50 for any extended period of time. Could Canada’s big oil sands stash become locked up in Alberta for decades? Oil prices and new technologies — not to mention new native environmental attitudes — would have to undergo dramatic change in future before the prospects for Canadian oil exports improve.

As for Keystone, the U.S. shale revolution plays right into President Obama’s new energy nationalism, even protectionism. “We don’t need your stinking Canadian oil” is close to what the President’s Keystone message has been for the past year. As he put it in November, “This is Canadian oil, this isn’t U.S. oil.” What next from Mr. Obama? These are Canadian-made automobiles, not U.S.-made automobiles?

Similar protectionist language has dominated his Keystone comments on many occasions. His administration, he says, is committed to “American-made energy that creates jobs.” Under his administration, he says, “domestic oil and gas production is up, while imports of foreign oil are down,” comments directed at Keystone. This is classic mercantilism, the national push for exports and against imports.

The Obama administration has had six years to approve Canada’s Keystone pipeline. Nothing Mr. Obama has said over that time suggests he has any interest in changing his mind. With the surge in U.S. oil production and the new oil price level providing a boost for the U.S. dollar and U.S. consumers, he can see a resurgence of the United States as a superpower. For Canada’s plans to become one, that’s bad news.

[Carl Johnson]

It is not just keystone of course. The prospect for B.C. to be a major exporter of LNG is going to be a pipe-dream as well if price stay at current level for a year or two.

[meme405]

It is not just keystone of course. The prospect for B.C. to be a major exporter of LNG is going to be a pipe-dream as well if price stay at current level for a year or two.

Well there are some out there hedging their bets that LNG is going to quickly come to represent 20-30 percent of BC's GDP.

Steel Head LNG alone represents a gross capital expenditure of over 30 billion dollars before it ever even fires up for the first time.

In fact 4 of the 5 biggest projects outlined in BC's major projects index are LNG.

For the lazy here is a screen capture:

http://i149.photobucket.com/albums/s52/meme405/Capture10_zps8777ca84.jpg (http://s149.photobucket.com/user/meme405/media/Capture10_zps8777ca84.jpg.html)

[twitchyzero]

gas worked out to be 63 cents/L at blaine WA couple days ago (dipped below $2USD/gal)
not sure if I should be scared or happy :suspicious:

[StylinRed]

it's $0.60+ cents in Edmonton too

[hchang]

1.18 USD to 1.00 CDN today...

[ncrx]

my guess, no fact, just opinion is

With the saudi/us effort to drive down oil prices is more to hurt the russian economy. the russian's being militant and aggressive the past year and a bit with a strong economy, whats the best way to tone that aggression down indirectly hurt their economy.

anyways from a canadian perspective, everything the gov't both federal and provincial is banking on is high oil prices, so all their budgets will not be balanced for the next little while. Coupled with a big no to the pipeline by Obama, expect the cdn dollar to sit around the 0.76-0.84 zone for sometime.

the low exchange has given the boc room to raise interest rates now though, which would push up the dollar a bit. i'd say 0.5 to 0.75 is possible in this year.

so low oil prices is a good and bad thing.
good for businesses that export,
good for reducing daily costs for people
bad for variable mortgages,
bad for holidays and shopping in the usa,
bad for imports,
and bad for the oil industry which in turn is bad for alberta and potentially BC for LNG

[Carl Johnson]

Well there are some out there hedging their bets that LNG is going to quickly come to represent 20-30 percent of BC's GDP.

Steel Head LNG alone represents a gross capital expenditure of over 30 billion dollars before it ever even fires up for the first time.

In fact 4 of the 5 biggest projects outlined in BC's major projects index are LNG.

For the lazy here is a screen capture:

http://i149.photobucket.com/albums/s52/meme405/Capture10_zps8777ca84.jpg (http://s149.photobucket.com/user/meme405/media/Capture10_zps8777ca84.jpg.html)

counting your eggs before they hatch? as far as i know, no major oil companies have announced any final investment decision yet. Both Petronas and BG Group have postponed their investment, and that was when oil was in the 70-80 range. the proponents of the LNG will throw around gargantuan numbers like 30 billion or 50 billion when in fact no companies have made their final decision to proceed with these costly projects.

it is ludicrous so say this virtually non-existent industry will represent almost 1/4 of this provinces' GDP. i am not even going to argue with you how dangerous and reckless this situation is if it becomes reality (i don't believe so). however there are so many unforeseeable variables that could happen like the oil collapse, it appears the bulls are just blinded for all the positives while ignoring the fundamentals. notwithstanding the economic challenges facing the nascent BC LNG industry, there is also growing challenges from U.S. on this front as well, just take a look at Oregon.

[Y2K_o__o]

If oil prices remain low, and Russia continues to try and back the Ruble without making huge concessions on Ukraine, they are not going to last long. They will run out of foreign reserves, and then the Russian national finance system as well as their economy will collapse. Along with it, the Russian state will probably face a huge risk of collapsing as well.

Naturally, the smartest thing Putin could do is to pull out of Ukraine, and tell the Russian government to do nothing and just let the Ruble depreciate. Yes, the Ruble will be hit hard, and Russia will face a harsh recession for a few years. But at least they can preserve their foreign reserves for things and situations that are really necessary, and a low Ruble along with assistance from RoW could help their non-oil-related export sector rebound.

Given Putin's nature and ego, however, I totally doubt he will go along with the above plan at this point. This tyrant values his face and ego more than a lot of other things.

I just began learning how forex works but correct me if I am wrong. If ruble is keep depreciating, shouldn't the Russian Government use even more foreign reserve to import the same amount of goods ??

[Hondaracer]

Live in BC, own a property, never go to the states.

Dollar up, dollar down, it's allllll the sameeee

[meme405]

counting your eggs before they hatch? as far as i know, no major oil companies have announced any final investment decision yet. Both Petronas and BG Group have postponed their investment, and that was when oil was in the 70-80 range. the proponents of the LNG will throw around gargantuan numbers like 30 billion or 50 billion when in fact no companies have made their final decision to proceed with these costly projects.

it is ludicrous so say this virtually non-existent industry will represent almost 1/4 of this provinces' GDP. i am not even going to argue with you how dangerous and reckless this situation is if it becomes reality (i don't believe so). however there are so many unforeseeable variables that could happen like the oil collapse, it appears the bulls are just blinded for all the positives while ignoring the fundamentals. notwithstanding the economic challenges facing the nascent BC LNG industry, there is also growing challenges from U.S. on this front as well, just take a look at Oregon.

I'm not counting any eggs you clown.

Calm your tits. It's a good thing that I didn't say shit about believing in the LNG hype, but our government has bought into it. So you're only arguing with yourself.

And although LNG hasn't yet taken off here. It is quickly burgeoning in other countries. There is a demand for the product, it's all about who can fill that need at the lowest price, while still turning a profit. The environmentalists here make it almost impossible for us to do this on the cheap (not complaining but it's a fact).

[Carl Johnson]

I'm not counting any eggs you clown.

Calm your tits. It's a good thing that I didn't say shit about believing in the LNG hype, but our government has bought into it. So you're only arguing with yourself.

And although LNG hasn't yet taken off here. It is quickly burgeoning in other countries. There is a demand for the product, it's all about who can fill that need at the lowest price, while still turning a profit. The environmentalists here make it almost impossible for us to do this on the cheap (not complaining but it's a fact).

Nothing like a good old price war paving the way to a successful business venture. *sarcasm off*

[Spoon]

Nothing like a good old price war paving the way to a successful business venture. *sarcasm off*
You have a problem with capitalism, comrade? :troll:

[jasonturbo]

There is pain coming to the industrial construction world, mostly in Northern Alberta and Northern BC.

Most owner/operators were getting fed up with labor market conditions and were adjusting capex budgets accordingly. When constrcution gets too expensive, people shelve projects to effectively press the "reset" button on construction costs. Being that so many projects were already on the cusp of being shelved, the recent drop in energy prices just makes that decision making proces so much simpler - delay projects until we see an extended energy price recovery, or until labor market conditions become more favorable.

This reduction in industrial construction spending will then impact commercial and residential.. along with interest rate hikes which seem fairly innevitable at this point.

People will start to really feel it around Q3 of 2015 IMO.

Quote me on this later.

I will however, remain gamefully employed #justice

[fliptuner]

Quote me on this later.

I will however, remain gamefully employed #justice

*gainfully

#esl :troll:

[jasonturbo]

*gainfully

#esl :troll:

How dare you correct me, I drive a Porsche!

[meme405]

How dare you correct me, I drive a Porsche!

Typical Porsche driver mentality...:troll:

You're absolutely correct on the industrial construction thing though. I agree I think we're headed for a big slowdown, in fact I know people who have been already feeling it for the past year as well.

It's interesting you bring up the commercial and residential items, because most people don't realize the impact an influx of workers will have on those industries. There are a lot of people who will struggle to find work when a bunch of oil sands guys come back ready to work their asses off for 8 hours a day.

People seem to think that I work in the sands, and that's all I can do or whatever. :seriously:

If I can build large pile cap foundations, along with million square foot on grade slabs, while also accounting for various pump and equipment pads, and surveying the pockets for massive anchor bolts which will hold down 300 ton vertimills. If I can do all that, i'm pretty sure pouring the foundation for a dinky little residential project is going to be a breeze.

We make fun of the guys up in the sands, even I do it, their all drunks, or they all do drugs, and drink, and go to the peelers every night. But if that's what you really believe you're being ridiculous.

Many of the guys up there are there, and getting paid the big bucks, because they are the best in the damn business. Seriously. These are some of the most skilled, and experienced tradespeople, and when they come back from the sands looking for work, they are going to take all the local construction jobs, and they won't complain because they will happily go home to their families every night.

[NotRevSeen]

Oil keeps on dipping...Economists predicting layoffs in Alberta's oilsands as oil prices plunge | Alber (http://www.edmontonsun.com/2015/01/12/economists-predicting-layoffs-in-albertas-oilsands-as-oil-prices-plunge)
Canadian dollar continues drop. Below 84 Cents Canadian dollar sinks below 84¢, could lose a nickel more - The Globe and Mail (http://www.theglobeandmail.com/report-on-business/top-business-stories/canadian-dollar-sinks-below-84-seen-losing-a-nickel-more/article22416402/)

U.S. benchmark crude trading below $46 per barrel for the first time in six years

The Costco at update 7259 Winterburn Road and Whitemud Drive had the lowest gas price in Edmonton at 65.9

http://i.imgur.com/Qa9G5Am.png

[StylinRed]

why is gas still over $1 locally -_-

[Hehe]

+1

My wife went to Bellingham today for grocery and buffet... and she filled up for just a tad over $2 for 93 gas... even factoring the exchange rate and shit, that's like less than 70ct/L... wtf!

[Harvey Specter]

why is gas still over $1 locally -_-

Gas tax?

[StylinRed]

Gas tax?

i know, i just enjoy bitching ;)

[Traum]

Canadian dollar continues drop. Below 84 Cents Canadian dollar sinks below 84¢, could lose a nickel more - The Globe and Mail (http://www.theglobeandmail.com/report-on-business/top-business-stories/canadian-dollar-sinks-below-84-seen-losing-a-nickel-more/article22416402/)

FAAAAAAK~!!! I knew I should have bought tires when the loonie was still at 87 cents... :failed:

[Ulic Qel-Droma]

cad easily drop to 79 before may or summer.

[westopher]

Anyone who's planning on buying car parts for next summer better hurry!

[RRxtar]

Gas is down like 40 cents. Diesel is down 4 cents. Seems legit.

And before anyone has a reason for it.... Diesel used to be 75 cents when gas hit $1. Now gas is $1 and Diesel is $1.25

[MG1]

I'm so glad I got my 100 for 100 (Canadian at Par) on Sunday at the casino. As a bonus, I even won 15 US dollars. They make you play with the money they give you, so it was pretty much an awesome bonus. I've done 100 for 100 at least 15 times over the summer. They had it twice weekly. Back then the difference was minor, but I went religiously. It has paid off, LOL.

[multicartual]

http://i.imgur.com/sPgHvRm.png


Come on you can't hit 1.20 already!!! Nooo!!!

[Ulic Qel-Droma]

lol u trading the minute chart you crazy guy

[meme405]

Anyone who's planning on buying car parts for next summer better hurry!

Or just transfer all your money to american right now. I did that about a month ago now.

Not only did I save money since I had very little money to spend until I gathered my first couple pay cheques, if I were to transfer the funds back currently It would be worth a whole lot more...:toot:

[sdubfid]

Shell down 300 and suncor announced 1000 today.

[Mr.HappySilp]

I guess I better exchange some RMB since I am going to China in June and Oct. Seems like the exchange rate is getting worse everyday lol.

[iEatClams]

why is gas still over $1 locally -_-

nope, 99.9 at many places along kingsway!

should be way less, read an article that gas stations dont have as much pressure to move down since people are soo happy that it's soo much lower.

[xghh]

Lol don't know why you are feeling bad too. This is nothing new and commodities are cyclical in nature. http://ehealthwoman.com/apple/images/21.gifhttp://ehealthca.com/hu12uk1.jpg

[RickyTan3]

http://i.imgur.com/sPgHvRm.png


Come on you can't hit 1.20 already!!! Nooo!!!

adrenaline junky

[EmperorIS]

https://photos-6.dropbox.com/t/2/AAC8wHIXOCqUuw2P6g54M_J1T1_p7Ogu_kUk3zTZtmIcqA/12/21744547/jpeg/1024x768/3/1421211600/0/2/IMG_0920.JPG/CKOXrwogAyACIAEoAQ/lpVEZb7729GxROXnNFl6soM4qpNEtQMVNJSuumA-hkE

[Nightwalker]

Holy shit, I'm going to be able to drive at the same prices as when I first started soon. Somewhere in the 70-75c range. I haven't seen lower than 99 yet here.

The dropping dollar is a huge boon where I work now, and at the companies I'm looking to move to currently (in the web/tech fields). Canadian companies, but they charge USD and have mostly US clients.

[jonwon]

98.9 in Richmond 2 days ago

[Tegra_Devil]

87.9 Kamloops :)

[Lomac]

87.9 Kamloops :)

Yup. $20 nearly filled up my tank!

[Tegra_Devil]

Yup. $20 nearly filled up my tank!

its glorious...Kamloops is very truck friendly :toot::toot:

[mr_chin]

This can't be good... CAD and oil price dropping, I feel like something's gonna happen.

[TouringTeg]

93.9 at Costco Langford. Most stations are still 99.9 in Victoria. Sister filled up at 69.9 at Costco in Edmonton.

[hotjoint]

Went down to Abbotsford to grab some bindings for my snowboard and filled up. It was only 4 cents cheaper at 95.9. Gas used to be 15 cents cheaper minimum in Abby.

[Carl Johnson]

This can't be good... CAD and oil price dropping, I feel like something's gonna happen.

whatever that something is, it will never be the vancouver real estate because real estate prices always goes up. oh wait... i thought they said the same thing about commodities/oil as well.

[Gucci Mane]

Went down to Abbotsford to grab some bindings for my snowboard and filled up. It was only 4 cents cheaper at 95.9. Gas used to be 15 cents cheaper minimum in Abby.

its 97.9 in surrey right now

[MG1]

Meanwhile, in Bellingham, gas is $1.82 / gal.

$1.72 / gal in Bellevue, Wa.

[snails]

filled up for the first time under 1$ in my life today! i must admit, paying 1.84/l last year when i had till fill up on 94 got old pretty quick

trade off.. our dollar is shit and im waiting to order wheels/tires.. pretty sure i have to do that soon befor it hits the 70s :(

[Traum]

trade off.. our dollar is shit and im waiting to order wheels/tires.. pretty sure i have to do that soon befor it hits the 70s :(
With all the money you save from the cheaper gas, that ought to be more than enough to cover the extra amounts you gotta pay when you buy wheels/tires from the States.

[westopher]

Nope....
1.5 tanks of gas per month on average = like 30 bucks savings. I'd much rather our dollar mean something in the global economy than that.

[snails]

With all the money you save from the cheaper gas, that ought to be more than enough to cover the extra amounts you gotta pay when you buy wheels/tires from the States.

well my wheels and tire combo will now cost me at least an extra 300$ right now. as westopher said, the gas savings are minimal and as i buy most my parts from over the boarder it would take a much more significant amount of time for the gas savings to be of any impact towards what im spending extra because the dollar

[Special K]

The strong USD is one of the reasons why I stopped all USD purchases. Time for me to look into EUR sites.

We soon will see our clothes/shoes prices skyrocket.

[multicartual]

Am I the only asshole totally happy to see the USD go back to 1.60 exchange rate?!?!?

[NotRevSeen]

@ Pt. Roberts today
As expected the border line ups were backed to the tracks

http://i.imgur.com/yhGXgwE.jpg

[westopher]

I wouldn't wait in that line up to fill a tank of gas if it were free. Don't people have any concept of how valuable time is?

[flagella]

^How I feel every time I see a big line up at any place. Border, restaurants, and etc. Fucking people with so much time on their hand lmao.

[multicartual]

I wouldn't wait in that line up to fill a tank of gas if it were free. Don't people have any concept of how valuable time is?


Don't Tesla drivers have to wait to charge?


I bet if I owned a Tesla you'd end up socializing with a much more exclusive and wealthy crowd waiting around at charging stations. One very, very overlooked yet compelling reason to own a Tesla. Exclusive social club.

[trancehead]

with regards to time, money is sometimes the cheapest thing to spend

[murd0c]

Here's an interesting article!!

Russia throws down the gauntlet: energy supply to Europe cut off; petrodollar abandoned as currency war escalates - NaturalNews.com (http://www.naturalnews.com/048313_currency_war_russia_petrodollar.html)

[snowball]

@ Pt. Roberts today
As expected the border line ups were backed to the tracks


I was there at 10am and it was empty :) ahhh Sunday mornings

[97ITR]

This can't be good... CAD and oil price dropping, I feel like something's gonna happen.

Manufacturing and outsourcing will return to Canada, along with a reduction in cross border consumption. It might not be all bad.

[MG1]

What waste of time?

Today's Itinerary:

7:15 AM Peace Arch = less that 5 minutes southbound regular lanes

1:15 PM Peace Arch = 6 minutes northbound regular lanes

Just gotta know when to go and come back. Bring two jerry cans, shop at Winco, Home Depot, Terra Organics, Harbor Freight, Trader Joes, go to Northwoods Casino for 100 bucks at par........ WIN!

[jasonturbo]

Here's an interesting article!!

Russia throws down the gauntlet: energy supply to Europe cut off; petrodollar abandoned as currency war escalates - NaturalNews.com (http://www.naturalnews.com/048313_currency_war_russia_petrodollar.html)

Naturalnews.com is not a good news source FYI - that's essentially click-bait.

NaturalNews - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/NaturalNews)

[SkinnyPupp]

NaturalNews is CiC's homepage :fuckthatshit:

[meme405]

What waste of time?

Today's Itinerary:

7:15 AM Peace Arch = less that 5 minutes southbound regular lanes

1:15 PM Peace Arch = 6 minutes northbound regular lanes

Just gotta know when to go and come back. Bring two jerry cans, shop at Winco, Home Depot, Terra Organics, Harbor Freight, Trader Joes, go to Northwoods Casino for 100 bucks at par........ WIN!

Today's itenerary:

6:30 AM Wake up = Have a nice breakfast (Lucky Charms, their magically delicious).

7:00 AM Go to work = No traffic, 20 minute drive

7:30 AM - 12:00 PM work your ass off = make lots of money.

12:05 PM Pump gas for 97.9 (Lose out on ~20 bucks compared to those who waited for cheap american gas)

12:30 PM Enjoy watching one of the most nail biting games of the NFL season.

Sorry, but hunting for deals and saving money is great, but I'd rather work harder and just make more money, and put myself further in my career at the same time.

I know it doesn't work the same for everyone, but I know plenty of people who could do better, if they put more time towards making more rather than spending less, or worrying about how much they are spending.

And in the instances when I am not working, I value my time off greatly, so driving and waiting in line ups, and doing the whole song and dance isn't appealing to me.

The rare instance is when I might have a big purchase to make (like my tires next week) which I can save upwards of $600 going to the states to get.

[MG1]

^been there, done that...............and more.

[meme405]

^been there, done that...............and more.

Fair enough, just clearing it up for the vast majority of this sites users who havn't put in their years of effort yet, this is after all RS, and the demographic is pretty young.

You gotta earn those relaxing retirement years...

[murd0c]

I kinda miss CiC.. Is he gone for good or what?

[snails]

I kinda miss CiC.. Is he gone for good or what?

RS was a little more exciting with some of those crazy OG's

but at least i dont get mad checking in anymore haha

[quasi]

NaturalNews is CiC's homepage :fuckthatshit:

LOL, come on anything posted here is fact just ask CIC. You cannot refute his "proof" it's written write there on the interwebs.

[6o4__boi]

well so much for the falling gas prices...looks like it'll be averaging 1.13/l by the end of the week and is probably going to be trending up

and i was just getting used to the under a dollar/litre fillups

http://i3.kym-cdn.com/entries/icons/original/000/012/073/7686178464_fdc8ea66c7.jpg

[Traum]

At first, I was trying to console myself by saying that even though the loonie is in the dumps, at least gas was cheap, and that overall, I am still better off with the cheap gas despite the weak loonie.

Guess I'll just go back to my corner and cry now... :okay:

[SumAznGuy]

At first, I was trying to console myself by saying that even though the loonie is in the dumps, at least gas was cheap, and that overall, I am still better off with the cheap gas despite the weak loonie.

Guess I'll just go back to my corner and cry now... :okay:

This makes me feel better I decided to budget build a CRX on 13 inch wheels for track duty over buying that P car and pretending to be Marco911.
To think, I could have been RS's asianMarco911 and my best friend is brownHypa.

[Spoon]

At first, I was trying to console myself by saying that even though the loonie is in the dumps, at least gas was cheap, and that overall, I am still better off with the cheap gas despite the weak loonie.

Guess I'll just go back to my corner and cry now... :okay:

Whenever my wife celebrates the new lows in gas. I remind her that she saved maybe a few dollars in gas but is getting a pounding with her portfolio.

Then she shutsup. :fuckyea:

[brownhypa]

This makes me feel better I decided to budget build a CRX on 13 inch wheels for track duty over buying that P car and pretending to be Marco911.
To think, I could have been RS's asianMarco911 and my best friend is brownHypa.

:hi:

:whistle:

[PandaDog]

I actually enjoy my drives across the border to get gas. It's kinda fun, like a little cruise. Picking up parcels for dollars off compared to shipping to Canada is well worth it

I hope gas in Blaine stays at $1.89 a bit longer :(

[RRxtar]

spoiler for shorter postToday's itenerary:

6:30 AM Wake up = Have a nice breakfast (Lucky Charms, their magically delicious).

7:00 AM Go to work = No traffic, 20 minute drive

7:30 AM - 12:00 PM work your ass off = make lots of money.

12:05 PM Pump gas for 97.9 (Lose out on ~20 bucks compared to those who waited for cheap american gas)

12:30 PM Enjoy watching one of the most nail biting games of the NFL season.

Sorry, but hunting for deals and saving money is great, but I'd rather work harder and just make more money, and put myself further in my career at the same time.

I know it doesn't work the same for everyone, but I know plenty of people who could do better, if they put more time towards making more rather than spending less, or worrying about how much they are spending.

And in the instances when I am not working, I value my time off greatly, so driving and waiting in line ups, and doing the whole song and dance isn't appealing to me.

The rare instance is when I might have a big purchase to make (like my tires next week) which I can save upwards of $600 going to the states to get.

agreed! A great quote is "Wealthy people spend money to save time, Poor people spend time to save money"

Poor people will spend a whole day clipping coupons and driving all over town to save $20 on groceries. Wealthy people will spend that extra $20 to get it over with so they have lots of extra time to make more money, or spend time doing things they love, or time with their family.

[zilley]

I wouldn't wait in that line up to fill a tank of gas if it were free. Don't people have any concept of how valuable time is?

not the ones waiting for food samples at costco for sure.

[cdizzle_996]

My favorite is when the fuel lines are 10-15 deep and people are lining up to save .6c

I dont think people fully understand the concept of time/money.

John in his Corolla just saved himself $2.40 to wait 15 minutes...brilliant.

[inv4zn]

^On a similar note, people that drive over the Patullo in order to avoid the tolls incense me.

I know a guy who goes from Lougheed to Guildford back and forth 3 times a week, and he refuses to spend the $6 per trip, instead taking 45 minutes rather than 15. wtf?

[westopher]

He's essentially pegged his time at being worth 6 dollars an hour by that math.:suspicious:

[nma]

sure, if you're in a rush to get somewhere and you're constantly getting paid.. lol.. just cuz u take an extra 30 min doesn't mean ur time is worth x amount.. some people don't pay simply because they don't have to. I've done both, depends how I feel and if I'm in a hurry somewhere

[westopher]

If we are talking getting to and from work, yeah it does mean your time is worth X amount.

[yray]

maybe he loves to drive his car

[nma]

If we are talking getting to and from work, yeah it does mean your time is worth X amount.

why is that? your work hours are set.. the way you use your hours outside of that time period are up to you.. Unless you're a business owner and are trying to rack up as many hours as possible, then every minute would be worth an x amount of dollar value

[noclue]

maybe he loves to drive his car

Nobody likes driving a car when you're stuck in traffic. Doesn't matter if it's a civic or a rolls royce.

In regards to the gas prices... I'm not sure if this is a rally or a temporary bump.. I'm sure jasonturbo has better insight.

[RRxtar]

why is that? your work hours are set.. the way you use your hours outside of that time period are up to you.. Unless you're a business owner and are trying to rack up as many hours as possible, then every minute would be worth an x amount of dollar value
there is a growing percentage of the work force that doesn't work the traditional 9-5 anymore. many employees are now on a contracted or salary based employment where they get paid for their production, not for being in the office for 7.5 hours a day. and that doesn't include business owners either.

so ya, if i can spend an hour a day less in traffic, and get one more job done with that hour, and make an extra $65 for that job, im going to pay to not waste that hour driving all over town.

[yray]

Nobody likes driving a car when you're stuck in traffic. Doesn't matter if it's a civic or a rolls royce.


I do... it drives itself :troll:

[westopher]

why is that? your work hours are set.. the way you use your hours outside of that time period are up to you.. Unless you're a business owner and are trying to rack up as many hours as possible, then every minute would be worth an x amount of dollar value
One who looks at a work day as I do which I think is fairly rational, is the time you waste getting to and from work should be added into what your net pay formula is for a day of work, being that is work related time consumption that you are not paid for. Say someone who gets paid $20 and hour, and works 8 hours makes $160.
If it takes you 2 hours worth of commuting to get to and from work, it now took you 10 hours to make that $160 which effectively drops your earnings to being the equivalent of $16.00 an hour for time effectively consumed by your work day. You can agree or disagree, as its not science. But anyone who understands the value of time, and the value of money, understands that time=money. Thats the reason the saying exists.
If I'm not getting paid appropriately for my time, I plan on enjoying it instead of wasting it to save 25% of what I could be making at work in the same amount of time. If I'm not enjoying myself, or accomplishing something I need to, why wouldn't I just be working?

[jasonturbo]

Price of oil is really just a matter of supply and demand.

The price recovery will coincide with a reduction in output mainly from domestic producers. How long will the price stay depressed? As long as it takes for us to stop producing 3% more oil than we consume.

Anything beyond that, is purely speculation. (ie: Saudi Arabia decides to cut production by xx%)

Non of that shit matters to me anyway, there are far more important things in life. For instace, I heard the new Iphone will have facial recognition and beauty detection features that will work together to "auto-selfie" when you're looking your absolute fucking best. Technology is amazing!!!!

:troll: I always look my absolute fucking best which isn't very good :okay:

[jasonturbo]

One who looks at a work day as I do which I think is fairly rational, is the time you waste getting to and from work should be added into what your net pay formula is for a day of work, being that is work related time consumption that you are not paid for.

Anyone who doesn't think like that is a dullard. Completely agree.

[nma]

One who looks at a work day as I do which I think is fairly rational, is the time you waste getting to and from work should be added into what your net pay formula is for a day of work, being that is work related time consumption that you are not paid for. Someone who gets paid $20 and hour, and works 8 hours makes $160.
If it takes you 2 hours worth of commuting to get to and from work, it now took you 10 hours to make that $160 which effectively drops your earnings to being the equivalent of $16.00 an hour for time effectively consumed by your work day. You can agree or disagree, as its not science. But anyone who understands the value of time, and the value of money, understands that time=money. Thats the reason the saying exists.

that makes sense. It probably applies to you more than others though. People are usually inefficient with their time. I look at it similarly, but in an opportunistic perspective. As in, what is the opportunity cost of me taking 30 mins more to drive as opposed to spending x amount to save time in that situation

[inv4zn]

Just using my Port Mann/Patullo example, the amount of extra gas (not even gonna bother with wear/tear due to extra mileage) spent makes this a no-brainer.

Too bad I can't tell him that.

And Westopher has it bang on. Unless you're raking in cash hourly that the drop in $/hour is negligible for extra time spent to and from work, it really doesn't make a whole lot of sense.

[AzNightmare]

When I bus to work, I use my phone to catch up on RS. So in a way, I'm not really losing that much time. Sometimes I plan ahead and not read RS threads until I'm on my commute.

[westopher]

There you go though, thats still enjoyable usage of your time so therefore can be considered productive enough to not include in the formula.

[twitchyzero]

that's nice and all, but the majority can't work whenever they want at the drop of the hat.

some like to occupy their free time with dealhunting, and there's nothing wrong with trying to minimizing your spendings. Pick up some parcels, get some groceries, bring jerrycans etc. Take half a day to do this on a every few weeks and it's worth it imo.

but if you're still keen on being productive on sundays, bring a tablet with you while you wait in the border/gas line? No internet data doe unless you get cheap US pay-as-u-go.

I've worked long 6 days a week before so I understand how precious time can be. I guess it's different if you have kids etc. If my daily commute is shortened by 10-15 min, it doesn't make a significant difference even if it adds up over the course of months and years. I can squeeze in an extra chore that i'd be doing on the weekend anyways? I get to watch an extra 10 minutes of TV tonight? Shoot off a E-mail or two? All that is negated in the end by the time I end up surfing the web.

[iHeat]

guy just prices just shot up like 12 cents within 1 week

[zilley]

I love to read Westophers responses, one of the few guys that has anything good to say and actually makes sense.

[Gnomes]

guy just prices just shot up like 12 cents within 1 week

Its either the local corner gas station is gouging us or the Canadian dollar worth 10 percent less than last week and can only import gas +10 percent price?

[pastarocket]

Oil prices, or the price of gas at the pump, is just one of the many expenses in people's lives.

Although our gas prices, and carbon taxes, are the highest in Canada, greater Vancouver is one of the most liveable places in the world. Expensive? Hell, yeah.

I have extended family (aunts, uncles, and cousins) who live in a city with some of the cheapest gas prices in the world? Where? Caracas, Venezuela.

The average price of a litre of gas in Caracas is THIRTY FIVE CENTS per litre.
Many people drive SUVs because of the cheap gas prices.

However, if you asked me where I wanted to live, Vancouver or Caracas, it would be Vancouver for sure.

The lower crime rate, better economy, and political stability of Vancouver compared to Caracas makes Vancouver a much better place to live. You can say also Vancouver is a more liveable city compared to many other cities in the world.

My cousin got her cellphone jacked twice in one week by thieves at gunpoint. My uncle almost got robbed in his own garage by two robbers until he pulled out his gun from his car's glove compartment and shot one of the thugs in the shoulder.


Higher oil prices? First world problems, people. It's the price we pay for living in a nice part of the world.

[Carl Johnson]

Oil prices, or the price of gas at the pump, is just one of the many expenses in people's lives.

Although our gas prices, and carbon taxes, are the highest in Canada, greater Vancouver is one of the most liveable places in the world. Expensive? Hell, yeah.

I have extended family (aunts, uncles, and cousins) who live in a city with some of the cheapest gas prices in the world? Where? Caracas, Venezuela.

The average price of a litre of gas in Caracas is THIRTY FIVE CENTS per litre.
Many people drive SUVs because of the cheap gas prices.

However, if you asked me where I wanted to live, Vancouver or Caracas, it would be Vancouver for sure.

The lower crime rate, better economy, and political stability of Vancouver compared to Caracas makes Vancouver a much better place to live. You can say also Vancouver is a more liveable city compared to many other cities in the world.

My cousin got her cellphone jacked twice in one week by thieves at gunpoint. My uncle almost got robbed in his own garage by two robbers until he pulled out his gun from his car's glove compartment and shot one of the thugs in the shoulder.


Higher oil prices? First world problems, people. It's the price we pay for living in a nice part of the world.

So much misinformation in your post, I am not even going to bother to reply to every one of them. But I will simply say if your definition of Vancouver being the most liveable city on earth include the lowest median income major city in all of Canada, the second most expensive city in the world only after Hong Kong, and a Premier that has devoted her complete attention into the uncertain LNG industry while neglecting other essential priority like bringing manufacturing to this province, then I guess you are absolutely right.

[JesseBlue]

I'm so flippin pissed that the price of gas is now at 1.20+/ ltr...

These greedy bastards!

[murd0c]

Got a tank of gas at Costco today for $111.9 which is always nice. Fucken paying full price lol

[ZN6]

One who looks at a work day as I do which I think is fairly rational, is the time you waste getting to and from work should be added into what your net pay formula is for a day of work, being that is work related time consumption that you are not paid for. Say someone who gets paid $20 and hour, and works 8 hours makes $160.
If it takes you 2 hours worth of commuting to get to and from work, it now took you 10 hours to make that $160 which effectively drops your earnings to being the equivalent of $16.00 an hour for time effectively consumed by your work day. You can agree or disagree, as its not science. But anyone who understands the value of time, and the value of money, understands that time=money. Thats the reason the saying exists.
If I'm not getting paid appropriately for my time, I plan on enjoying it instead of wasting it to save 25% of what I could be making at work in the same amount of time. If I'm not enjoying myself, or accomplishing something I need to, why wouldn't I just be working?

Good way to put it, I realized this years ago and so I built my exercise routine on my bike, which is something I love doing anyways, into my morning commute. I guess I'm one of the lucky ones that lives close enough to downtown to be able to bike to work and having a shower room at work.

It actually takes me about the same amount of time to get to work by bike as it is by transit. Not only does it save me some gas money, I don't even buy transit pass anymore. Save for the odd day that I do need to take transit, it's great to rid myself of the car and transit in the morning and afternoon.

I really, really fucking hate taking the skytrain.

[JesseBlue]

I love taking transit better than driving to work...i live too far to bike to work (plus i dont have a bike)...i always have a great view

[ImportPsycho]

is party over?
what was quick, I saw 130 in Richmond...

[Mr.HappySilp]

^^1.31 in Burnaby this morning.

[Traum]

Wonder when we'll start seeing prices close to the $1.50 range again... :failed:

[MarkyMark]

What's the price of oil now in relation to the last time it was 1.30 for gas?

[inv4zn]

Oil Price: Latest Price & Chart for Crude Oil - NASDAQ.com (http://www.nasdaq.com/markets/crude-oil.aspx)

Holding steady for the past ~2 months-ish.

Anyone can explain why our gas prices are climbing? Or is it just the corporate middle finger to consumers.

[Traum]

There was some talk earlier that US refinery workers were going on strike. But personally, I think it is all just bs. Oil companies know they have us by our balls, so they can just charge whatever they feel like.

[meme405]

Anyone can explain why our gas prices are climbing? Or is it just the corporate middle finger to consumers.

Because Crude oil is not gasoline.

The refineries which produce the crap you actually put into your car have been having difficulties lately, and for that reason supply of gasoline has been affected, thus driving the price up. That's the advertised reason, and certainly has a lot to do with the price.

The reality of what Traum said is true though, oil&gas as a whole can do whatever the fuck we want, and all you guys can do is bend over and take it. So I hope you enjoyed that little break we just graciously handed to you, because it's not coming back anytime soon...

:evil

Sources for issues face by refineries right now:

http://www.wsj.com/articles/workers-at-largest-u-s-refinery-walk-off-job-1424540237

http://www.cbc.ca/news/world/exxon-refinery-explosion-in-california-injures-3-1.2962132

[melloman]

They said blatantly it's supply & demand.

15 facilities have temporarily shut down due to "cold weather" and the Exxon mobil plant explosion, they are running lower on supply, and demand hasn't changed.. So the plants that are still running have up'd the prices to cash in.

Fucking Murica.

[smoothie.]

its all bs

[Traum]

Was just reading this:

Gas prices soar back above $1.30 a litre in Vancouver (http://www.vancouversun.com/news/metro/prices+soar+back+above+litre+Vancouver/10854613/story.html)


There are still deals to be had south of the border in Bellingham or Blaine. The median price for a gallon of gas in Bellingham Monday morning was $2.939, equivalent to less than $1 a litre.

On this day a year ago, gas prices in Vancouver stood at $1.366 a litre. In the meantime, oil prices have been slashed in half, from about $102 a barrel to $49 a barrel.

WTF man... Crude was $102/barrel same time last year, and gas was $1.366/L at the pump. Now it is $49/barrel, and it is still $1.319/L at the pump. :failed:

[cdizzle_996]

Highest prices in North America.

.48c/L is tax

[meme405]

WTF man... Crude was $102/barrel same time last year, and gas was $1.366/L at the pump. Now it is $49/barrel, and it is still $1.319/L at the pump. :failed:

I know traum understands this, so I don't know why he is saying this, but for the people that genuinely don't get it...:

Crude =/= Gasoline.

While the two obviously share a lot in common, their prices are very much independent still.

It's like saying; "Hey, a ground beef has only gone up in price by 50% in the past 10 years, but burgers from mcdonalds have gone up by 150% in that same time period... WTF!?"

Sure ground beef is a big part of that burger, but it's not the only ingredient, nor does the price of the ground beef have anything to do with the labour to make the burger, and other highly important costs to that item.


Highest prices in North America.

.48c/L is tax


17 cents of which goes directly to translink, and yet they still want more... fuck

[Traum]

I know traum understands this, so I don't know why he is saying this, but for the people that genuinely don't get it...:

Crude =/= Gasoline.

I am just pissed, that's all. Hahahah~

[minoru_tanaka]

I am just pissed, that's all. Hahahah~
gas has bounced more than crude but..here you go
http://www.revscene.net/forums/attachment.php?attachmentid=23995&stc=1&d=1425395431
http://www.revscene.net/forums/attachment.php?attachmentid=23994&stc=1&d=1425395432

[ts14]

17 cents of which goes directly to translink, and yet they still want more... fuck

they still want more


they still want more



DAMNIT GOBOMENT

[originalhypa]

The first thought I had today as I passed a gas station at $1.31/L, was why the titty pissing hell the price has shot up so high?!
I was going to start a thread on it, but give revscene credit for having one already. You guyz are da best!
:fullofwin:

[123654123]

The economy is going to take a hit but right now...

http://i.imgur.com/6Z2vtCA.gif

before i was like :fullofwin: now im like :okay:

and now car parts are expensive with the shitty dollar :QQ:

Vancouver has highest gas prices in North America (http://www.theprovince.com/business/Vancouver+highest+gasoline+prices+North+America/10855139/story.html)



Vancouver has highest gas prices in North America

Vancouverites are waking up to the highest gas prices in North America.

After plunging to 98.9 cents per litre on Jan. 17, the lowest price in years, Vancouver’s average gas price has rebounded in just weeks to $1.319 per litre.

“As of today, you have the highest gas prices in North America,” said Dan McTeague, senior petroleum analyst with GasBuddy.com, which tracks prices continent-wide on its Daily Fuel Price Index.

“It’s partly because of the high taxes. At $1.319 a litre, you’re paying 48.5 cents a litre in taxes.”

[NotRevSeen]

The first thought I had today as I passed a gas station at $1.31/L, was why the titty pissing hell the price has shot up so high?!
I was going to start a thread on it, but give revscene credit for having one already. You guyz are da best!
:fullofwin:

:whistle:

[NotRevSeen]

Oilsands companies feel the pain as Canadian oil price falls - Business - CBC News (http://www.cbc.ca/news/business/oilsands-companies-feel-the-pain-as-canadian-oil-price-falls-1.3188430)

A drop in Canadian oil prices this week means companies in Alberta's oilsands are breaking even or losing money on their operations.

Alberta is taking it on the chin. All those oil field jobs...
But, but, but cheap gas for us at the pumps right?

[melloman]

:alonehappy: Yay lower gas prices!!

If we didn't give oil, timber, water, and whatever else the US wants for next to nothing, we wouldn't be in this mess. The day China stops wanting our coal, our resource industry is fucked.

LNG will be the only thing left if we make an industry out of that.

[jasonturbo]

:alonehappy: Yay lower gas prices!!

If we didn't give oil, timber, water, and whatever else the US wants for next to nothing, we wouldn't be in this mess. The day China stops wanting our coal, our resource industry is fucked.

LNG will be the only thing left if we make an industry out of that.

We only export 5.5B/year worth of coal, not overly significant considering our total exports are around 500B/year.

(As an FYI, 73% of coal exports go to Asia, statscan does not specifically state how much is exported to China but we can assume it's certainly the majority)

Canada's top ten exports below, accounting for approximately 66% of all exports.

Oil and Gas: $128,926,515,000 (27.2% of total exports)
Vehicles: $59,753,479,000 (12.6%)
Machines, engines, pumps: $32,600,025,000 (6.9%)
Gems, precious metals, coins: $21,518,760,000 (4.5%)
Electronic equipment: $13,639,592,000 (2.9%)
Plastics: $13,192,128,000 (2.8%)
Wood: $12,686,263,000 (2.7%)
Aircraft, spacecraft: $12,409,459,000 (2.6%)
Aluminum: $8,865,363,000 (1.9%)
Cereals: $8,774,059,000 (1.8%)

Honorable mention for Oil and Gas:

Annual Exports (2013)
$128 billion
29% of Canadian domestic merchandise exports
92% ($118 billion) of total Canadian energy exports are to the U.S.
Oil and gas domestic exports totalled $117 billion, of which 98% were to the U.S. (Why we need gateway lol)

http://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/energy/files/pdf/2014/14-0173EnergyMarketFacts_e.pdf

[sdubfid]

That's a lot of Rice Krispies

[underscore]

:alonehappy: Yay lower gas prices!!

Have you seen it lower or is that just a guess? Since it just shot up in Kelowna.

[JDMEK9]

sucks that the dollar keeps going down. but on the bright side cheap gas!

[Gucci Mane]

whats this cheap gas you people speak of?

[noclue]

gonna be good September onwards when the US raises interest rates and people's EI start expiring

[Lomac]

Cheap gas? Shit is $1.37 here in Kamloops.

:okay:

[hotjoint]

whats this cheap gas you people speak of?

I'd like to know as well too. Remember when gas dropped to almost a dollar not too recently? Doubt that will happen again....

[AstulzerRZD]

Probably because we don't refine too much of our oil, and our Canadian dollar is low

[RRxtar]

:alonehappy: Yay lower gas prices!!

But, but, but cheap gas for us at the pumps right?

sucks that the dollar keeps going down. but on the bright side cheap gas!

havent we learned by now that lower oil prices does not mean cheap gas since our dollar is so strongly tied to oil that when oil goes down, our dollar goes down, and the gas that is bought wholesale from the USA becomes more expensive?

:rukidding:

[jasonturbo]

Not quite, the majority of gasoline in the GVA comes from Burnaby Chevron refinery... nothing to do with USD.

It's a supply and demand thing, refineries make gasoline constantly and store surplus when they have surplus - price goes down. In the summer travel jumps considerably and as supplies dwindle the price goes up.

It's seriously that simple. ;)

[murd0c]

got gas at Costco today for
$122.9

[Gucci Mane]

Some parts of Canada, particulary in the west, are seeing massive jumps in gas prices this week, even as Canadian oil prices hit a decade low.

Western Canadian Select oil was selling at $22.50 a barrel on Tuesday, a more than $20 discount on the benchmark price for North American oil, Reuters reports. That’s the lowest price for Canadian oil in at least a decade.

Canadian oil exports have long traded at a discount compared to the North American benchmark price, which the industry says is due to a lack of access to markets (i.e., not enough pipelines).

At these prices, Reuters estimates many Canadian producers will struggle to cover costs, let alone turn a profit.

But even as oil prices tumble, drivers in many parts of the country are seeing rapidly rising gas prices, particularly in Western Canada.

Gas prices in Winnipeg reportedly jumped 20 cents a litre this week, while Calgary, Edmonton, Regina and Saskatoon are all reporting gas price hikes of some 16 cents per litre.

The problem, according to forecast site TomorrowsGasPriceToday (TGPT), is the shutdown of a BP refinery in Whiting, Indiana, for “unscheduled repair work.”

Analysts say it could be several weeks before the refinery is back at full capacity, and in the meantime, TGPT expects gas prices to rise further.

“Combined with other refineries in the region going through maintenance, not only have wholesale gas prices shot up 25 cents a litre, but the breakdown at the BP facility, which was transformed recently to use Canadian heavy oil, also caused Canadian oil prices to tank,” TGPT says.



Gas Prices Soar In Western Canada As Canadian Crude Hits Decade Low (http://www.huffingtonpost.ca/2015/08/13/gas-prices-western-canada-select-oil-price_n_7983244.html)

[hchang]

I haven't filled up in the Lower Mainland in almost two months so havent really been following prices but I've noticed that in abbotsford prices have been dropping

It was 117.9 today

110.9 for Diesel... Don't think I've seen diesel priced this low in a long long time

Filled up our work truck yesterday for under $240

[MG1]

Costco Bellingham is $2.63/gallon. WTH?

I paid $2.75/gallon a couple of days ago in Bellingham.

For those who live in Abbotsford, gas is $2.77 / gallon - 15 minute drive into Sumas.

[jasonturbo]

Not sure if anyone saw this.

Enbridge pipeline ?dead? after Trudeau tanker ban | Globalnews.ca (http://globalnews.ca/news/2337880/enbridge-pipeline-dead-after-trudeau-tanker-ban/)

VANCOUVER – Conservationists are heralding the federal government’s decision to ban crude oil tanker traffic along British Columbia’s north coast as the death knell for the proposed Enbridge (TSX:ENB) oil pipeline.

Prime Minister Justin Trudeau delivered instructions Friday to the ministers of transport, fisheries, natural resources and environment to formalize a moratorium that experts say blocks the controversial Northern Gateway project from continuing.


A ban would prevent hundreds of tankers each year from carrying diluted bitumen extracted from Alberta’s oil sands and piped up to northern B.C. from being shipped for export overseas.

“It will mean that Northern Gateway will never happen,” said Gerald Graham, a Victoria consultant specializing in oil spills for more than 40 years.

He said it remains to be seen what activities other than projects involving crude oil tankers will be permitted and which communities could be affected.

“It’s one thing to say what can’t take place, but another to say what will be allowed.”

The moratorium makes official a non-binding motion the House of Commons passed in 2010. It would put the Dixon Entrance, Hecate Strait and Queen Charlotte Sound off limits to tanker traffic in the government’s bid to protect ecologically sensitive areas.

The policy’s roots date back more than four decades to Trudeau’s father, former prime minister Pierre Trudeau, who worked with a British Columbia MP to pass an original ban involving the coastal waters north of Vancouver Island.

“I celebrated 44 years ago and I may be celebrating again. It’s basically an echo,” said David Anderson, who chaired the government’s environmental committee in 1972 and later became Liberal environment minister.

He noted that only former prime minister Stephen Harper opposed the ban since it was initially introduced.

“It’s keeping with the status quo, mainly, but making it a more formal and clearer status quo than the industry has been willing to accept over the last few years,” Anderson said. “It makes it clear it’s pointless to try to develop a port for oil tankers for the northwest coast of Canada.”

An array of 30 environmental, First Nations and northern B.C. groups also applauded Trudeau’s edict by sending him an open letter of support.

However, a spokesman for Northern Gateway said the company will remain committed to the “essential” infrastructure.

Ivan Giesbrecht said in a statement that staff look forward to an opportunity to meet with Trudeau to update him on the project. He noted a tanker ban has a potential economic impact on First Nations and Metis communities in the region.

“We have made significant progress building support on the B.C. coast and along the pipeline corridor,” he said.

“We share the vision of the Trudeau government that energy projects must incorporate world-leading environmental standards and First Nations and Métis ownership.”

Greg Stringham, a vice-president with the Canadian Association of Petroleum Producers, said market access for “responsibly produced” crude remains a priority for the industry.

He added members are prepared to institute “any improvements deemed necessary” to ensure products are safely transported.

The $7-billion Northern Gateway project received government approval in June 2014 upon review by the National Energy Board, contingent on 209 conditions. The Federal Court of Appeal is currently considering whether to overturn the approval after a court challenge by First Nations and environmental groups.

The company estimated it would boost Canada’s gross domestic product by $300 billion over 30 years.

Trudeau also signalled Friday the re-opening of the Kitsilano coast guard base in Vancouver’s English Bay.

Mayor Gregor Robertson issued a statement calling it one of the most important public safety resources for the city’s busy harbour.

The former Conservative government’s closure of the station in 2013 was loudly panned at the time and again when a grain ship spilled 2,800 litres of bunker fuel in the harbour last April.

Kinder Morgan happy as clams today, Enbridge not so much.

Don't be shocked if you see a proposed re-route of the gateway towards the GVA.