Is Canada......

[Maka]

......part of our extreme fuel prices problem?

Crude Oil and Total Petroleum Imports Top 15 Countries

To all my Canadian friends I just post this as it is very interesting. Canada is the biggest exporter of oil to the U.S. I believe we are all suffering from corporate greed and government greed.

Maka

[777777]

Hey Maka,

Well, in Ontario, we are currently paying #1.10 to $1.15 per litre which I think works out to be around $4.50 - $4.60 ( Cdn ) per U.S. gallon.

Are you in the U.S up to that yet ?

In Winnipeg Manitoba, the price was $1.22 per liter which is around $4.84 per U.S. gallon.

Unforunately, most of our oil is sent to the U.S and we have to buy it back from there. So works out to be your prices + our higher taxrs = 1 big rip off.

So, don't think Canada capitalizes on the prices but that may change if NAFTA is reopened. Then may be a completely different ball game where your prices are up to ours.

I think we are all just victims of the Mobils, Exons, etc.

Have a good one,

Tom

[CinderSchnauzer]

Originally Posted by Maka

Is Canada......part of our extreme fuel prices problem?
Maka

U.S. per-capita consumption is amongst the highest in the world. Oil is a world commodity.

Perhaps an alternate view for your theory might be:

Does the United States, based on high per captia use and the largest overall consumption of oil in the world, cause excess demand for oil, creating extreme fuel prices for the rest of the world????

Just something to think about.

If the US were self sufficient in oil - do you really think prices would be lower?

[GarthH]

Fuel prices are hurting all of us. Some are predicting the price may reach $1.50 - $1.75 per litre (up to $6.75 per US Gallon).

The oil is certainly coming from Canada but most of the oil is owned by huge multi-national corps. Oil itself is traded on the open market.

In our area they estimate the oil companies have hit us with an extra 10% profit since the price reach $0.90 per Litre.

I suspect all we can do is to invest in oil companies - the profits are enormous.

Garth

[Maka]

Garth, I think it is greed pure and simple. I think that the greed is on both sides of the border both government wise and corporate wise and it is both Americans and Canadians paying for it.

It is happening with oil, farm equipment and lots of other stuff.

Maka

[PBinWA]

Originally Posted by 777777

I think we are all just victims of the Mobils, Exons, etc.

I think we are all victims of a global free market economy. I bet there is a pretty close correlation between fuel prices and China and India's economic growth.

Takes a lot of energy to make all our tractors!

Canada wouldn't be exporting as much oil if the prices were lower. It's the high price of oil that makes it profitable to extract it from the tar sands.

[slowzuki]

I think the previous posters nailed it, most of our oil is owned by large companies, we don't have gov't controlled oil. The tar sands has a penny a barrel royalty rate or something low like that. Nfld gets a bit more but not a whole lot.