25 Replies to ““The day of reckoning has arrived…””

  1. So oil and gas prices drop and the loonie drops accordingly.
    The new Marxist NDP regime in Alberta compounds the problem by raising marginal income tax rates by 50% and then says what is desperately needed is a $3 billion carbon tax on top of that. I ma quiet sure they are not done yet with their lunacy.
    Trudeau does likewise and raises marginal income tax rates by 11.4% which the Marxists in Ottawa now say is not enough of an increase.
    Canada is now experiencing what we have experienced in the US under Obama for 7 years.
    In the meantime like the US, Canada insists on importing more Muslims. In the US this week a new poll indicated that Muslims vote this way:
    Democrats 73%
    Republicans 11%
    The policy of importing people who detest Canadian and American liberties and reliably vote left is not lost on Obama, Trudeau, the Liberals, the NDP or the Democrats.

  2. This could be a bumpy ride for a while as Crude is at $36.24 @ 7:59 AM on Barchart.com. Well below Euan’s $40 benchmark. What a time to have Marxists in Edmonton and Ottawa.

  4. Notice the silence of the “Big Oil” conspiracy loons lately.
    Unrest in the Middle East (obviously orchestrated by Bush and Cheney and the Freemasons on the orders of the Illuminati) is supposed to drive the price of a barrel through the roof.
    Yet, even as Russian cruise missiles slam into the oil production facilities of the Islamic State, the bottom continues to fall out of the cost of a barrel ($36.76 as I write this).
    It’s hard to see how that helps “Big Oil”.
    Still, conspiracy theorists are highly imaginative (it goes with the condition); I have no doubt they’ll come up with something to explain it all away for us.

  5. Is there some reasonable article explaining why gas prices have not more closely mirrored the drop in oil prices?

  6. The unreasonable explanation is that the gas companies will ask politely while you bend over and charge whaterver the feel fit on gouging Canadians.

  7. Here’s my theory, conspiracy or not.
    New fracking technology enables most country to eventually get out of the grip of OPEC, specifically Saudi/Middle eastern and now thanks to Jihadbama,full Iran oil too. Becoming energy independent is logical, especially when home producing is cheaper than importing. (North America could and should be, why isn’t Canada?)
    What would the Middle East become without oil export? How could they finance their religious war/International invasion?
    Follow the money trail. It leads right to the White House which has a path that leads to the UN. It’s been like this since the Nixon years where Bucks became the only exchange currency/value to buy energy. In order for this “arrangement” to remain, Washington must bow to the master.
    Saudis have been lining up the pockets of the Washington establishment, including a very big (7 figure) “retirement” fund for each Prez.
    The left is getting even more $’s because they are the main stewards of the Climate Change scam which we all know serves as a major force against our energy independence at home.

  8. Obama and Hillier rejected the Canadian Pipelines, why?
    As you said:
    New fracking technology enables most countries to eventually get out of the grip of OPEC.
    The Muslim and Thief and his Iranian lover, Valerie Jarrett,
    do not want America out of the grip of the Middle East choke hold on Oil.
    America and Canada could put an import tax on imported oil,
    keep the price stable for home grown oil producers,
    then use the money to repair our roads and bridges.
    The bastards probably wont,
    but it is still a good thought..
    Because if we Do not the Saudis have already said they will destroy the fracking industry.
    –
    Can anyone say: Oil Terrorists..
    https://search.yahoo.com/search?fr=mcafee&type=C114US662D20151030&p=saudia+trying+to+destroy+fracking

  10. So Canada which produces less than 3% of the worlds oil apparently causes 100% of CO2. Does any other country get the abuse that we do? Or any abuse whatsoever for oil production?

  11. The graphics are very colorful …. what does any of this matter to a senior citizen on Vancouver Island? Or anyone who isn’t part of the energy sector or the Jihad.

  12. If there is a glut of oil on the world market maybe Detroit needs to go back to producing big gas guzzling SUV’s, trucks and high fin Caddy’s and anyone with a big block muscle car in the garage, get it out and drive it that should help take care of the oil glut.

  13. Rather then let the consumer benefit from low oil prices, the government is going to tax the hell out of it to move the money to their pet projects, friends, family and at least one wind project that will fail within 10 years. |None of this stolen money will go to pay down debt, it will create more as it is wasted away.
    The Carbon Tax will have zero effect on carbon output, but the low oil price, lack of project support, cheap foreign oil, (which will kill projects) and general reduced business activity will.
    All the studies and forecasts are predicting low oil prices for a long foreseeable future, I really have my doubts, this world is too unstable for it to last. The Middle East is on the edge of total war, if Iran fires off a nuclear missile at Israel or if ISIS gets into Saudi Arab or Yemen, all bets are off. The back-doors bribes to ISIS may not hold them off for much longer and the war effort from the coalition is a joke, nobody wants to put boots on ground and for good reason, why kill our guys when the people there don’t appreciate or care.

  14. “Is there some reasonable article explaining why gas prices have not more closely mirrored the drop in oil prices?”
    Well, I don’t know about Gasbuddy.com but in Ontario almost 30 cents of every litre is fixed tax (and that’s before HST). Although regular unleaded is hovering below a dollar now, only 60 cents or so of that represents the oil company/gas station take.

  15. And another contributing factor is that oil is priced in American dollars but gas is sold in Canada in Canadian dollars. As the price of oil has dropped, so has the exchange rate. Add this to the taxes mostly being per litre sold instead of per $1 of sales, and that eats a lot of the benefits.
    In Calgary gas is currently in the $0.85 to $0.90 range. Last year it was in the $1.20 range. That’s quite a drop, but the cost in jobs was (and continues to be) high.

  17. I got a bit ahead of myself. Those numbers are from 2012. They are probably much different now. I was transfixed by the pretty colours.

  18. It is not that difficult to figure out.
    The price of gas can be broken down into 6 categories:
    1. price of crude
    2. price of transportation to refinery
    3. price of refining, marketing, oil co. profit
    4. price of distribution
    5. profit for retail gas station
    6. taxes on gas
    gas at $100/bbl, breakdown below is per litre.
    1. $0.50
    2. $0.05
    3. $0.30
    4. $0.02
    5. $0.05
    6. $0.37
    total is $1.31 / litre
    gas at $40/bbl,
    1. $0.20
    2. $0.05
    3. $0.30
    4. $0.02
    5. $0.05
    6. $0.34
    total is $1.01 / litre
    In other words, crude oil prices normally represent less than 1/3 of the cost of the price of gasoline. As prices fall for crude, prices for refining, transportation, distribution and taxes remain the same.

  19. With prices so low I think the real reason no one is intervening is because we don’t need these scum bags anymore. If they want their islamic terrorists they can keep their islamic terrorists.

  21. “As prices fall for crude, prices for refining, transportation, distribution and taxes remain the same.”
    Good observation.
    Throw in all the taxes and you end up with a minimum fixed price that gas can’t drop below and still be worth producing.

  22. I just checked GasBuddy – gas is $1.169 a liter here in Vancouver, BC, which is about 41 cents a liter MORE than it is in Ferndale, Washington (at today’s “low” exchange rate). This will more than pay for the relatively CHEAP dairy products in WA (which I will get at Trader Joe’s in Bellingham – just south of Ferndale)

  23. We deserve the abuse because our oil comes from TARsands, doncha know – using production methods specifically developed to maximize destruction of the environment and murder and mayhem to migratory birds.
    And I’m pretty sure that if the environmentalists look hard enough, they’ll find harmful effects on baby seals too!

  24. richfisher, the price of gas is not dropping at a corresponding rate with crude because the government requires the price remains high so tax revenue does not drop.

  25. And with lower prices at the gas pump more people will be traveling this coming christmas and lower gas prices bothers the Tree Huggers/Granola Munchers becuase lower prices means more people will choose to drive this holiday season and not commute on dumb bicycles that they want everyone to do

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