Thursday, March 31, 2011

Another Oil Company Scam

Maybe this is just an April Fools prank. If not it's the biggest scam since the bank and the stock market bailout. Gas is set to rise by an unprecedented 30 cents a litre, as world events drive prices up across the country. This is what happens when you trade commodities on the stock market. The crooks get greedy. World events? We were the ones that started the boycott of oil from Libya in the first place.

Hmmmm. let's do the math. Not long ago price of oil dropped so OPEC considered raising output. March 8, after the Libya uprising started, U.S. crude oil futures settled at $105.02 a barrel in trading on the New York Mercantile Exchange, down 42 cents. In London, Brent crude dropped $2.79 to $112.25 per barrel on the ICE Futures exchange.

So let me get this straight. Today WTI Crude is at $107.00 a barrel and Bent Crude is at $117.36 a barrel. That's a sharp increase of 0.26% and 0.12%. Even from the March 8 low it's only an increase of $1.98 and $2.11 a barrel. Not a significant enough increase to warrant a 30 cents a litre increase in the price of gas overnight. (An over night increase of $1.36 a gallon with the Canadian dollar at par with the US dollar) We are being had.

The stock market is driven by fear, greed and speculation. A Jedi seeks not after these things. When trading commodities on the stock market, weather reports and other related news can affect the speculation governing investment in a product. Let's face it, people who but stocks in oil want a high return on their investment. They will jump at any opportunity to raise the price of gas.

Not long ago, when we had a gas war on, that is when local gas stations were in a price war competing for business, it was really hard for the average gas station to make a profit. Not so any more. Ever since gas prices have skyrocketed the price war has not been in effect and all the gas stations are making a killing. This overnight raise in the price of gas is a complete scam.

Is this more propaganda to get the public to support the unlawful invasion of countries for their oil?

Saudi Arabia, due to higher government spending this year, will need its oil to sell for $88 a barrel in 2011 for its government to break even–up from $68 last year, according to a new estimate from the Institute of International Finance, a global bankers’ trade group.

Scam! The Saudi dictatorship that the people are protesting against has increased spending so they have to raise the price of oil $20 a barrel to keep up with their spending. What a joke. Only it's not funny because it's killing us.

Raising the price of gas raises the price of everything we buy in stores because the goods we buy are transported there by trucks that use gas. Who killed the electric car anyways? It's time to get electric cars back on the table and stop enabling the huge profits from the oil companies scams.

Maybe we should boycotts oil from Saudi Arabia instead of boycotting it from Libya? Ever think of that Neo Cons?


  1. George Bush is not responsible for the price of gas...back here in the real world.

    But your own province IS, and you can do something about that, instead of writing posts about secret conspiracies (not so secret if you know all about them though, I guess). Like, write yer MLA or write here about what really puts up the price, the taxes do!

    You pay a laughable "carbon tax" gas-tax (5.5 cents/l.) that has no policy or direction attached to it. It goes instead into general revenue, so Christy Clark & her Ministers can drive huge SUVs to work.

    You pay a large Translink gas-tax (15 cents/l.!). Why should someone who doesn't use public transit pay a transit tax, ever asked yerself that...?

    Then federal tax!

    Then Provincial motor fuel tax!

    Once that's all added up, you're then taxed GST on the gross, you're taxed on the previous taxes!! A true double-dip.

    And what does Agent K say, nuthin', zippo.

    Instead its all post after post about secret USA conspiracies.

    Do what I do to judge public opinion, man, and read the endless comments section about the gas-taxes!

    BC'ers KNOW its their OWN politicians who are responsible for close to HALF the price of a liter of gas! They don't do this to USA citizens, burden young families with brutal, impossible, five-layer tax schemes that lower our standard of living drastically and wipe out savings plans for our futures!

    Our problems do not originate with Yankees & everyone knows it except for Agent K!

  2. We do pay 10 cents a litre more for gas in the gvrd then outside the gvrd for translink and yes provincial and federal taxes do add quite a bit more to the price of gas at the pumps. America certainly isn’t the source of all our problems but we do share similar corruption. George Bush and his entire family were involved in a significant amount of investment fraud including but not limited to oil fraud in Texas and Denver which crashed several banks that had to be bailed out.

    You are correct that doesn’t directly relate to the price of gas at the pump in Canada when we drive across the border and get it a lot cheaper than we do here. However, the larger greed of the oil companies does affect us in addition to the local extra taxes we pay on the gas at the pump including but not limited to the carbon tax. Yet I am suspicious when I see yet another 6 cent a litre jump in the price of gas when they tell us the price of oil per barrel is dropping. It certainly isn’t a secret conspiracy. We are obviously and openly getting shafted.


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