Gas skyrocketing again?

Anyone noticing this in the US or Canada? Hearing all sorts of rumors here in Ontario of gas suddenly doubling or almost tripling this afternoon. Hearing that it’s already over $2.20 CDN a litre in some parts of the province (that’s over $8 a gallon!). Big lineups here anyhow.

Holy fuck. And to hell with people being unable to fill their SUVs; people are going to be freezing to death in their homes this winter.

Globe and Mail confirms your account of gas being over $2/L in Ontario, although it says it dropped back down later in the day.

http://www.theglobeandmail.com/servlet/story/RTGAM.20050922.wgaspric0922/BNStory/National/

That article also is a perfect example of high short-sighted the NDP are. They’re bitterly complaining that the Liberals and Conservatives are content to sit back and watch the Canadian oil industry rake in record profits while citizens are beeing fleeced at the pumps. You’d think the NDP would want gas prices to be even HIGHER. At >$2/L, more and more Canadians would ditch their gas-guzzling SUVs in favour of more fuel-efficient vehicles and public transit.

No, what the NDP would do is put a hard cap on the price of oil intended for Canada, then a 300% tax on that oil, then a 300% tax on the gasoline that comes out of it, and then a mileage tax.

And they’d have a 25,000-man bureaucracy to enforce this where everyone was unionized except management, and the only work that was done happened during the summer when non-union interns showed up.

You know “hard cap on the price of oil” is the only bad thing in that list, right? Taxing inelastic goods is a pretty efficient form of taxation if you have to look for revenue somewhere.

Given the current information the market has not priced gas insanely. So the market thinks that the damage to refineries won’t be too bad. Natural gas OTOH is the real story. It’s freaking nuts and it is used througout the economy. This could really hurt people.

It’s also the best way to fuck the masses.

Figures you’d like the 25,000-man unionized incompetents too.

Did I mention you probably want to eliminate entire other classes of taxes as an offset, like your VAT or whatever?

You must not be familiar with the NDP. It never occurs to them to put “eliminate” and “tax” in the same sentence unless eliminate is followed by “corporate” and tax is followed by “cuts”.

The NDP more or less embody all the exaggerated attacks Republicans use against Democrats in the US. They’re for huge government spending, tax increases, nationalizing every industry they can think of, unionizing every employee, etc. Usually they’re a joke of a party whose popular support is in the low-mid teens, but currently they find themselves holding the balance of power in Parliament because Canadian voters were pissed at the Liberals and fearful of the Conservatives during the last election campaign.

It’s not my fault a party up there is dumb. :)

Again, natural gas is the real story. The NABE is currently meeting in Chicago and they are not horribly worried about gasolean but they are really worried about natural gas. I can’t wait to see how high my bills are but you know what they say: if you have to worry about how much it costs to heat you can’t afford it.

All I can say is that in Canada, some of the fuckwits in Ottawa and in provincial capitals had better start dropping idiotic taxes (like the GST on electricity and natural gas bills, which is bugshit insane gouging on what’s an absolute NECESSITY here) and come up with subsidizing plans ASAP. Otherwise, people will be freezing to death this winter.

Natural gas up 6% today. This is getting comical. The costs are totally weather driven from here out. If we have a cold winter the price is going to be nutty. The current prediction is for a winter more sever than last year.

I guess it is time to buy some Chesapeake and some EnCana. We’re at nose bleed levels but if the natural gas suitaion is as dire as it seems these guys are going to make crazy profits.

Thank god I dont have any use at all for natural gas. (electric stove, no heat)

Edit +9.88%. HAAH.

After you use a gas stove you just can’t go bck to electric. The instant heat is great.