Oil - Gas prices going up there too ?

Here in Toronto, within 1 week it's gone from 98 cents to $1.18 a liter today !!

If the Libya crisis continues expect to see it much higher and there goes any hope of an economic recovery.

I am hardly the greenest person on the planet, but petroleum dependancy has got to go.

I agree.

And agent: Prices will only continue to rise this year, for various reasons.

yes and the outcome will be the same.

it's all about energy

Interesting that the "deficit hawks" in the House just voted against a resolution to stop exempting off-shore drilling from paying royalties, which was and exemption made back when oil prices were cheaper to encourage drilling whene the oil companies saw no need. That would have added about $1.3 billion to federal revenues. But the fact is that Washington is in the pockets of Big Oil (as well as Big Pharma, Wall Street and an endless parade of others.) It may take a crisis to turn that around, but I am skeptical that enough congresspeople will do the right thing when there is money on the table.

Our local school is bidding out converting to geothermal, which is pretty cool for a small town.

Iago wrote:..

Our local school is bidding out converting to geothermal, which is pretty cool for a small town.

at least these people are looking forward

That is pretty cool for any school in any town.

im pretty sure i posted a link about this fellow on the old board but here it is again - a renowned Canadian economist who has been pretty much on target with his oil predictions and the way the oil affects the economy housing ie energy is the key to it all.

basically the worlds not running out of oil, but it is running out of affordable oil and the rest is at hard to get to places like tar sands deep underwater etc + india and china china cars etc


predicts $225 / barrel by 2012 !! ouch

Well, as with all shortages like famine they are often more due to political causes than true need.

The oil sands aren't that hard to get at. It just requires innovative technology, which the oil companies have developed. The oil sands extend into Saskatchewan, so there is actually a pretty large reserve available to us. Of course, that oil needs to be refined, then shipped, which adds to the cost.

Politics has always been and will continue to be a huge factor.

Yes the Cnd tar sands is predicted to increase production from about 1.2 million barrels/day to over 4 million barrels/day - and most of that will be going to the states btw. Well that economist says for the tar sands to increase production significantly the synthetic oil from the tar sands would require a tailing pond in Alberta as big as the state of Florida and the economics of this costs about $200+ / barrel ie $7/gallon. Again it's not cheap conventional oil close to the ground like in the middle east.

Tailings ponds are a whole other issue, involving environmental and economic concerns.

As for shipping the oil south, it makes a lot of sense. The US has 10 times the population of Canada and they consume a lot of oil. Why ship the oil elsewhere, which would cost more money, when we can ship it south to our neighbours?

None of that changes the fact that it is still a finite resource. The one positive thing about an energy crisis is that it forces people to look to the future. The problem is that they never last long enough for real change to occur, and when prices go down we go back to guzzling.

We haven't implemented other solutions because we've yet to have a real crisis.

Were you too young for the late Seventies? That crisis was real, but for all the talk at the time things went right back to the way they were as soon as prices went down.

Are you referring to '73 or '79? Regardless, those were political. My comment was more to do with supply. Fossil fuel is finite, but we've yet to reach a situation where supply is so short that we actually panic. Unfortunately, I don't think we'll do anything about seriously pursuing alternative fuels until that happens.

Let us remind ourselves, there is plenty of oil on the planet, enough that we will never run out of it, but its the AFFORDABLE that is quickly dwindling.

An interesting article showing how the Romans were more energy efficient than us 2000 years ago.


http://energy.pressandjournal.co.uk/Article.aspx/2073125?UserKey=


ps.btw gas prices here jumped from $1.16 yesterday to over $1.20 /liter today even higher at $1.25 further up north in ontario

Fuel prices are never going to stabilize until we can make our own within the country. Personally I am the last person that would drive an electric car. (The day i drive a prius will be the day I drive a prius off a bridge) They can keep that crap. I would however be willing to use a corn (or other organic) based fuel provided that it will work in a traditional internal combustion engine and that suppliers of said fuel are abundant in my area. (I am not about to spend half the day on a trip just to purchase gas)

It is a known fact that this technology is already available. I swear that there is a conspiracy in America involving the oil companies to keep this technology out of the reach of the general public.

there are a few VERY FAST electric cars out there - faster than combustion i think - all 4 direct drive electric motors to wheel

http://www.gizmag.com/top-5-worlds-fastest-street-legal-electric-car/11414/


"Cars like the million dollar Porsche Carrera GT and Ferrari Enzo are rightly considered supercars with their lightweight carbon fiber construction and 650 hp (477 kw) thoroughbred mid mounted engines making them capable of 0-60 mph in 3.9 seconds. The amazing thing is that electric vehicles like the 250 hp (183 kw) Tesla Roadster, which produce 100% instant torque from zero rpm, can accelerate to 60 mph in the exact same time, and at costs as low as $0.02 per mile"

Another consequence of higher OIL prices =

http://www.cbc.ca/news/world/story/2011/03/03/un-food.html?ref=rss

"World food prices hit record high: UN
The Associated Press Posted: Mar 3, 2011 9:58 AM ET"



"Global food prices reached new highs in February, a United Nations food agency said Thursday, warning that oil price spikes could provoke further increases.

Skyrocketing food prices have been among the triggers for protests in Egypt, Tunisia and elsewhere and raised fears of a repeat of the food price crises in 2007 and 2008. "

The use of corn in ethanol is part of what is driving food prices up in this country, since we put corn in virtually everything. There is no such thing as a free lunch.

And to think: Corn goes right through you!

But there is always more going into you, from frequently unlikely sources. God help anyone who is alergic to corn.

yes corn fructose is a demon responsible for the obesity epidemic i assume