[Newsbot]

Title: Canadian dollar dips as oil drops to 6-year low below $44
Category: Business
Posted By: Zipperfish
Date: 2015-03-16 14:12:45
Canadian

[Zipperfish]

So, if my calcuations are correct, this should mean...an increase in gas prices in BC.

[N_Fiddledog]

Took the words right out of my mouth.

Has anybody anywhere ever offered an explanation for why some of us are still paying 1.25 a litre during record lows of the price of oil, BTW?

http://www.bcgasprices.com/

[2Cdo]

Well, according to the oil companies it takes an average of three months for that cheap oil to be reflected in gas prices whereas when oil prices spike somehow that makes it's way to the pumps in hours.

[Thanos]

1) Shutdowns.
2) Teamster strike in the US, because US refinery workers are all Teamster affilated now, that has no effect whatsoever on the supply of fuel in Canada but causes price hikes up here anyway.
3) The change in the way commodities are handled by Wall Street, in which despite the fall of oil some anonymous board members in NYC can decide that gasoline and jet fuel has to go up in price.
4) The basic obscenity of an economic system that in and of itself is the greatest obscenity that humans have ever created. It's not supposed to make sense to anyone who doesn't have their hands on the levers.

Take your pick. All and none are legitimate yet all and none are also part of the overall chimera of human thought.

[Tricks]

Would our low dollar also not affect the price of gas for us?

[Thanos]

They're going to yo-yo the entire goddamn thing to make as much profit as possible regardless of how lame their economic justifications are. One on hand the glut will be used as a reason for massive layoffs and postponements of further projects. One the other hand an executive on the pricing board didn't like the stink-eye the neighbours dog gave him when he jogged past their house so the price of gasoline will go up ten cents a litre tomorrow morning. This is about as logical and rational as it will ever get.

And, no, the Canadian and provincial governments absolutely cannot enter into any partnerships with industry to build more refineries in Canada because something something Ayn Rand something something Milton Friedman something something invisible hand something something all boats rising something something the fraternity brothers from the class of 1985 said no. What are you people? A bunch of fucking communists?

[xerxes]

N_Fiddledog N_Fiddledog:

Took the words right out of my mouth.

Has anybody anywhere ever offered an explanation for why some of us are still paying 1.25 a litre during record lows of the price of oil, BTW?

http://www.bcgasprices.com/

The oil barons need evermore gold plated TP.

[martin14]

Poloz obviuosly decided to trash the dollar, rather than any kind of interest rate hike to save it.

Because raising rates would pop that nasty housing boil/bubble, which is going to create
a lot more damage than a shitty dollar will.

In their eyes of course.

Dollar is headed for 70 cents, even less.


In the meantime, everything in Canada will get more expensive, including gas.


Oh and btw, all those Toronto retards running around saying manufacturing in Ontario
would pick up the slack of falling oil ?
Ain't happening.


Oil will continue to drop. It won't end well.

[Thanos]

Pretty sure that the deliberate destruction of affordable electrical power in Ontario by McGuinty and Wynne put the permanent kibosh on Ontario manufacturing ever recovering even to the miserable state it was in during the early 2000's. Yeah, there's lots and lots of investors rushing to set up shop in Ontario just so they can lose a fucking third of their revenues paying electrical bills. Fucking Liberal idiots.

[martin14]

Thanos Thanos:

Pretty sure that the deliberate destruction of affordable electrical power in Ontario by McGuinty and Wynne put the permanent kibosh on Ontario manufacturing ever recovering even to the miserable state it was in during the early 2000's. Yeah, there's lots and lots of investors rushing to set up shop in Ontario just so they can lose a fucking third of their revenues paying electrical bills. Fucking Liberal idiots.

My guess is taxes and spending increases especially in Ontario is only just beginning,
Wynne and her gang will reach Greek levels soon enough, which will just drive business
further away.

I'm not seeing anything good in the Canadian economy right now, and no plan for the future.

And that fucking part time drama teacher will only make it worse.


Over here, the Euro keeps dropping as well, and QE only just starting, so it will get worse.
Gas prices going back up as well.

When it stops raining, going to plant an extra big garden this year, since I'm stuck in this
f***ing hole for a while.

[Thanos]

I'm waiting for another round of advice from the board lefties on how Alberta should handle it's debt and deficit but I'm sure that any mention of Ontario's $300 billion debt won't get mentioned in the slightest.

[BartSimpson]

$1 CDN = $.78 US

Looks like it's getting on time to buy another place in Victoria!

(We're actually looking at Sooke.)

[N_Fiddledog]

So, I find this interesting then.

$1:

I decided to do some urban comparisons on monthly gasoline prices (regular unleaded at full service filling stations) using Statistics Canada data for 18 Canadian cities for the period 1979 to 2011. I calculated the “national average price” for these 18 cities and then the regional averages for the Atlantic, Quebec, Ontario, the Prairies and British Columbia. The national average price per liter in 1979 was 23.6 cents and it rose to 59.2 cents in 1990, reached 63.6 cents in 2000 and was 126.2 cents in 2011. In 1979, prices tended to be highest in Atlantic Canada, followed by Ontario, then Quebec, British Columbia and then the Prairies. By 2011, prices tended to be the highest in British Columbia, followed by Quebec, then Atlantic Canada, Ontario and the Prairies.

http://worthwhile.typepad.com/worthwhil ... rices.html

And here's a graph.

http://worthwhile.typepad.com/.a/6a00d8 ... abb970d-pi

The last time the dollar was at the rate it is now was 1993.

http://www.bankofcanada.ca/rates/exchan ... te-lookup/

So what does that mean to the theory the value of the dollar affects why gas is now 1.25 at the pump today? It appears the price of gas at the same pump was in the low 90s in 93 when the value of the dollar was the same it is today.

[andyt]

Thanos Thanos:

And, no, the Canadian and provincial governments absolutely cannot enter into any partnerships with industry to build more refineries in Canada because something something Ayn Rand something something Milton Friedman something something invisible hand something something all boats rising something something the fraternity brothers from the class of 1985 said no. What are you people? A bunch of fucking communists?

According to Khar, what you wrote is the truth. It's been studied and is a no go.