Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:42 AM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas prices off the charts due to 2-tiered Canadian oil market Back to Topics
Nicoalbum

Champion Author
Ottawa

Posts:7,868
Points:1,521,260
Joined:Jan 2010
Message Posted: Nov 23, 2012 2:19:13 PM

The difference in gasoline prices across Canada has hit its widest point in a decade because supply problems in the crude oil market have thrown the regular rules out the window, according to a report released today.

The Statistics Canada report released Friday shows how wildly different prices for crude oil that refineries across the country must pay are leading to pump prices that often move in opposite directions.

The Western world's two largest benchmarks for oil are Brent and WTI. The former is named after the Brent oilfield under the North Sea between Britain and Norway, whereas WTI stands for West Texas Intermediate and essentially refers to the type of oil extracted from the Gulf of Mexico.

Both are favoured for their purity and ease of processing compared to other type
Visit CBC News for full article
REPLIES (newest first) Post a Reply
Profile Pic
mabrams184
Champion Author Lexington

Posts:3,230
Points:842,895
Joined:Aug 2011
Message Posted: Nov 25, 2012 7:59:39 AM

Don't let this happen in the US.
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,407
Points:923,070
Joined:Sep 2011
Message Posted: Nov 25, 2012 7:21:09 AM

ok
Profile Pic
crep1291
Champion Author Ottawa

Posts:3,105
Points:531,870
Joined:Dec 2010
Message Posted: Nov 24, 2012 10:42:21 AM

"They really need a pipe to their east coast.

Take care of your own before you serve the rest of the world."

Yes, the oil producers are taking care of their own by maximizing their profits. Unfortunately, shipping the oil to the east coast isn't as profitable as shipping it to Asia.
Profile Pic
vjs3
Champion Author Denver

Posts:3,838
Points:963,665
Joined:Jun 2011
Message Posted: Nov 24, 2012 2:10:38 AM

I wonder how long it will take to resolve this situation.
Profile Pic
jimgraham
Champion Author Akron

Posts:12,065
Points:2,313,880
Joined:Oct 2007
Message Posted: Nov 24, 2012 1:40:20 AM

They really need a pipe to their east coast.

Take care of your own before you serve the rest of the world.
Profile Pic
BEGTWO
Champion Author Maryland

Posts:3,465
Points:1,037,700
Joined:Sep 2010
Message Posted: Nov 24, 2012 12:52:26 AM

;-(
Profile Pic
MidNJ
Champion Author New Jersey

Posts:8,878
Points:1,466,950
Joined:Sep 2009
Message Posted: Nov 23, 2012 9:59:00 PM

Is Canada is shipping too much of its crude to other countries?
Profile Pic
BIGOILEATURCRUD
Champion Author North Carolina

Posts:8,282
Points:1,713,220
Joined:Nov 2008
Message Posted: Nov 23, 2012 7:20:31 PM

Must be Obama's fault.
Profile Pic
ktbaeohana
Champion Author Las Vegas

Posts:3,639
Points:716,830
Joined:Mar 2010
Message Posted: Nov 23, 2012 6:37:52 PM

watch and see.
Profile Pic
amerk73
Champion Author Dallas

Posts:8,709
Points:1,954,040
Joined:Oct 2008
Message Posted: Nov 23, 2012 6:35:24 PM

gas price rise up
Profile Pic
albiek1976
Champion Author Ohio

Posts:1,386
Points:871,905
Joined:Sep 2001
Message Posted: Nov 23, 2012 6:23:54 PM

That's one thing to be Thankful for.. That we don't live in Canada (or me)
Profile Pic
SNOWMI
Champion Author Michigan

Posts:3,627
Points:549,505
Joined:Nov 2011
Message Posted: Nov 23, 2012 6:10:05 PM

Poor canadians, their gas is always higher than US, and now it's even higher, not fair to them.
Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:7,868
Points:1,521,260
Joined:Jan 2010
Message Posted: Nov 23, 2012 6:04:35 PM

Taxes cannot explain opposite movement between oil and gas prices especially in Canada
Profile Pic
04LTC
Veteran Author Massachusetts

Posts:316
Points:260,270
Joined:Sep 2012
Message Posted: Nov 23, 2012 4:24:10 PM

shame....
Profile Pic
VomVom
Champion Author Calgary

Posts:3,933
Points:1,862,905
Joined:May 2007
Message Posted: Nov 23, 2012 4:21:57 PM

This report ignores the biggest factor in gasoline prices: taxes collected by the various levels of government. Go to "Gas Price 101" and than look at the "Canada Fuel Tax Rates".
Profile Pic
dogsdog
Veteran Author Sacramento

Posts:315
Points:33,060
Joined:Dec 2009
Message Posted: Nov 23, 2012 3:40:57 PM

k
Profile Pic
humblepie
Champion Author Toledo

Posts:48,750
Points:2,706,290
Joined:Mar 2006
Message Posted: Nov 23, 2012 3:40:57 PM

sad sad news
Profile Pic
Juicy1177
Veteran Author Gary

Posts:336
Points:149,550
Joined:Feb 2012
Message Posted: Nov 23, 2012 3:40:27 PM

I will 2nd that,
Profile Pic
FortVancouver01
Champion Author Washington

Posts:1,506
Points:552,730
Joined:Jul 2012
Message Posted: Nov 23, 2012 2:41:54 PM


Seems like it would be in Canada's best interest to stop inporting oil and use the pipeline oil for Canada instead of selling it to some foreign interests and transporting it to Texas for foreign consumption..?? From my perspective I think your Federal government is being "controlled" by the oil barons more than the US Congress...

Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:7,868
Points:1,521,260
Joined:Jan 2010
Message Posted: Nov 23, 2012 2:19:34 PM

Poor us, Canadians, in terms of gas
Post a reply Back to Topics