Before being happy for EVs, I’d consider the wider affects it will have on the economy.
That’s going to put a damper on things…. Summer gas prices
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Before being happy for EVs, I’d consider the wider affects it will have on the economy.
EbS-P
Minister of Fire
Gas and diesel is about as close in price as I have seen it in several years. We’ve been there before. Difference now is the US is the largest petroleum and gas exporter in the world. Seems like we should get some benefits from that……
Habits will change current administration will get blamed. Inflation will stay where it is as will interest rates.
Tesla might sell down some inventory….. really we are just one explosion away from 6-7$ gas
Habits will change current administration will get blamed. Inflation will stay where it is as will interest rates.
Tesla might sell down some inventory….. really we are just one explosion away from 6-7$ gas
And that explosion could be half a world away on an oil platform.
I’ve been thinking an awful lot about Tom Clancy’s Red Storm Rising lately. A great book to reread if you’re bored.
I’ve been thinking an awful lot about Tom Clancy’s Red Storm Rising lately. A great book to reread if you’re bored.
That fallacy ("we export the most, and we should benefit from that", presumably in terms of lower gas prices) contrasts with the fact that oil is a commodity in a world marked, and that the only way we get to benefit from our production *disconnected to whatever happens elsewhere* (as in we get benefits separate from what is happening elsewhere) is by not selling any oil to beyond the border.
The problem with the latter is that so many other things would make the situation much. more problematic (as in huuuge crisis in the world, leading to large recessions which still will affect our economy in a way much worse than the world-market-set oil prices).
So nope, we will not, and we should not.
EbS-P
Minister of Fire
My sarcasm didn’t make out of my head…. I can’t in good conscience buy Exon stock. That would be the easiest way to realize profit. Really it’s not a huge burden on my vacation budget. It will cost $300 more in gasoline. It will cost me more than that in grocery inflation for the summer.
That's the current price locally and a lot cheaper than 100 miles to the north of us.
There's other factors at play here too, the Transmountain pipeline is about to open, which will allow Alberta to sell more of its oil on global markets instead of being forced to take a $20/barrel haircut on oil sold to our southern neighbours. 890,000 barrels per day is what that pipeline will ship to the coast at full capacity.
The US will be forced to either pay closer to global market price for our oil, or buy from someone else.
The US will be forced to either pay closer to global market price for our oil, or buy from someone else.
You're paying more than I do, it's the equivalent of $4.46 USD per US Gallon for diesel right now.
Hmm, I may be driving out to Fargo this year. I was thinking of coming back via Canada as a different route
Or convert the refineries to process the light and sweet from shale. I think Mexico has heavy sour also.
Fortunately, not me. We put in about 8 gallons a year in the Volt.
Is diesel cheaper? I just checked Vancouver, BC and the average price is over $8/gallon there.
Best Gas Prices & Local Gas Stations in Vancouver, BC
Today's best 10 gas stations with the cheapest prices near you, in Vancouver, BC. GasBuddy provides the most ways to save money on fuel.
It's about $6/gal in Winnepeg
Best Gas Prices & Local Gas Stations in Winnipeg, MB
Today's best 10 gas stations with the cheapest prices near you, in Winnipeg, MB. GasBuddy provides the most ways to save money on fuel.
Vancouver's fuel prices are typically highest in the country, you'll pay more in Manitoba and Ontario than I do, but certainly not what they do in Vancouver. Kenora and Lake of the Woods is beautiful, but I've never been further east than that, at least not by road.
Which would be the option "or buy from someone else". A lot of refineries use heavy crude to make synthetic diesel fuel, replacing it with lighter crude may not yield the same cuts of diesel, aviation fuel or heating oil.
Is diesel cheaper? I just checked Vancouver, BC and the average price is over $8/gallon there.
Best Gas Prices & Local Gas Stations in Vancouver, BC
Today's best 10 gas stations with the cheapest prices near you, in Vancouver, BC. GasBuddy provides the most ways to save money on fuel.www.gasbuddy.com
It's about $6/gal in Winnepeg
Best Gas Prices & Local Gas Stations in Winnipeg, MB
Today's best 10 gas stations with the cheapest prices near you, in Winnipeg, MB. GasBuddy provides the most ways to save money on fuel.
Diesel is still more expensive here, I think about 6 cents per liter, I just quote diesel as I follow the prices better. Our vehicles are diesel, we only use gas for the offroad toys.
Keep in mind those are Canadian dollars, its 74cents US to $1 CAD right now, so Vancouver is in the $5.50/gallon range.
Ah, that's the difference. I thought the two dollars were closer.
bogieb
Minister of Fire
Hu, prices have been falling here. 10 days ago I filled my tank at $3.11/gal (after 10 cent/gal discount using the station's card) i preparation for the NorEaster. This past Saturday it was $3.01/gal at the same station. I was surprised it went down because of the expected influx of visitors for yesterday's event. My town was not in totality (~96%), but we would see some traffic as a secondary, less traveled route to the main event.
Meh. $5/gal would still be low on an inflation adjusted basis. And the fraction of the economy going to fuels is waaaay smaller than it was 20 or 50 years ago.
Add in vehicle efficiency. On my recent 900 mile eclipse trip in the Volt, I only used about 22 gallons.
Add in vehicle efficiency. On my recent 900 mile eclipse trip in the Volt, I only used about 22 gallons.
Nothing I can do will change any of it, so why worry about it? If I have money I'll buy gas, no money no gas.
EbS-P
Minister of Fire
The biggest consequence will be that is this increase transpires inflation will stay high and interest rate won’t be reduced.
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