Tuesday, June 21, 2005

The real story on Oil

What really is the story with high gas prices? Oil prices 'eased off' today at $59 a barrel amid global supply fears, of coursed created by the 'few' analysts. Funny how reports use the words 'ease off', like $1 or $2 makes a big difference to us consumers. Even a couple of weeks ago, I believe the price per barrel was under $50, and the gas stations in Vancouver were still sitting between 87 cents and a $1 per litre. The next issue that pisses alot of people are the gas hikes that happen overnight. You'll drive home from work at 87 or less cents one day, next morning it's sitting at a dollar. But you never see them decrease it that much over the day, only a penny or so. It will take a week or more to decrease that much.

I do notice many more scooters, Smart cars that run on diesel and hybrid cars such as the Toyota Prius in Vancouver. If I could, I would switch as well to something more economical. Reports are stating that by end of summer, we will be paying $1.25 or more per litre. I'm really not sure how people are surviving by driving their SUV's to work from the suburbs. Funny how people move further out of the city with the notion they are saving money, but still work downtown and don't think about transportation costs. At the end of the year, it all adds up. The transit system in Vancouver, is one of the poorest and expensive there is, no matter how the politicians spin it. You can read more about today's oil stories.


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