It appears that none of the Canucks want to respond to this thread, so I did a search and this is what I found for you, ff. I assume the prices are in liters:fff said:What does gasoline cost in Canada these days? How about diesel?
Texan said:It appears that none of the Canucks want to respond to this thread, so I did a search and this is what I found for you, ff. I assume the prices are in liters:fff said:What does gasoline cost in Canada these days? How about diesel?
www.thirdworldcountrygasprices.com
www.thirdworldcountrydieselprices.com
Shelly said:Just makes you want to throw up your hands, say to hell with farming, and go out and get a PAYING job!
Third world country..... :roll: :roll:Texan said:It appears that none of the Canucks want to respond to this thread, so I did a search and this is what I found for you, ff. I assume the prices are in liters:fff said:What does gasoline cost in Canada these days? How about diesel?
www.thirdworldcountrygasprices.com
www.thirdworldcountrydieselprices.com
Shelly said:I'm not real sure, my memory ain't so good. Maybe $.89 a litre? Fellow Canadians help me out.
aplusmnt said:Shelly said:I'm not real sure, my memory ain't so good. Maybe $.89 a litre? Fellow Canadians help me out.
What was the cause for Higher gas prices in Canada? In America it is of opinion it is the oil executives in the Government. Do you have a bunch of oil executives also in the government?
Silver Thursday
Beginning in the early 1970s the Hunt brothers began accumulating large amounts of silver. By 1979, they had nearly cornered the global market. In the last nine months of 1979 the brothers earned an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million oz.
During Hunt's attempts to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980 silver prices rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later.
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US $10 million and banned from trading in the commodity markets as a result of charges stemming from his attempt to corner the market in silver, leading to a commodity crash known as Silver Thursday. This was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period .
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.
aplusmnt said:Curious what were you guys paying say 2 years ago for gasoline?
Silver said:aplusmnt said:Curious what were you guys paying say 2 years ago for gasoline?
Last summer we paid $.90 for farm fuel, gas at the pumps was reaching $1.20.
The year before I believe farm fuel was about $.70 and pump gas about $.90 - $1.00
We just paid $1.26 for farm fuel the other day, and it's gone up 5 or 6 cents since then. Gas in town is $1.43 these days.
I shudder to think what we'd be paying if we still had a 60 cent dollar.
Like the US, gasoline and distillate prices fluctuate with world prices. We pay more because we need to fund our socialist habits like building roads and bridges.
As long as there is a percieved supply / demand imbalance we will continue to pay dearly.
Oldtimer said:aplusmnt said:Shelly said:I'm not real sure, my memory ain't so good. Maybe $.89 a litre? Fellow Canadians help me out.
What was the cause for Higher gas prices in Canada? In America it is of opinion it is the oil executives in the Government. Do you have a bunch of oil executives also in the government?
A+-- Your probably too young to remember this- but if you believe that global prices can't be inluenced and manipulated by speculation/hoarding - read this.....This is one of the reasons that many of the oversight and regulation laws that the Enron Loophole took out and the GW's CFTC refuse to enforce were put into place...
And this was all done by one corporate entity made up of two rich brothers- now currently with oil and the Loophole we have multiple non-commercial, institutional investors that are doing the same thing....
Silver said:As long as there is a percieved supply / demand imbalance we will continue to pay dearly.
Oldtimer said:aplusmnt said:Shelly said:I'm not real sure, my memory ain't so good. Maybe $.89 a litre? Fellow Canadians help me out.
What was the cause for Higher gas prices in Canada? In America it is of opinion it is the oil executives in the Government. Do you have a bunch of oil executives also in the government?
A+-- Your probably too young to remember this- but if you believe that global prices can't be inluenced and manipulated by speculation/hoarding - read this.....This is one of the reasons that many of the oversight and regulation laws that the Enron Loophole took out and the GW's CFTC refuse to enforce were put into place...
And this was all done by one corporate entity made up of two rich brothers- now currently with oil and the Loophole we have multiple non-commercial, institutional investors that are doing the same thing....
Silver Thursday
Beginning in the early 1970s the Hunt brothers began accumulating large amounts of silver. By 1979, they had nearly cornered the global market. In the last nine months of 1979 the brothers earned an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million oz.
During Hunt's attempts to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980 silver prices rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later.
In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US $10 million and banned from trading in the commodity markets as a result of charges stemming from his attempt to corner the market in silver, leading to a commodity crash known as Silver Thursday. This was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period .
Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.
Commodities Prices: Speculation Exposed
by: Philip Davis posted on: May 21, 2008
http://seekingalpha.com/article/782...ulation-exposed
That was a nice dip yesterday!
We were so well covered that we spent the day in member chat discussing World Hunger as we ho-hummed the sell-off, but we did get a little bullish towards the end of the day and started picking off some callers, looking for at least a bounce in the morning but willing to roll down or add to some of our stronger long positions.
The most exciting thing that happened Tuesday was the testimony of Michael Masters to the Senate Committee on Homeland Security (who have sweeping powers) as he spilled the beans and gave the Senate a very detailed inside view of exactly how speculators are the primary cause of high commodity prices.
Don't look for any commentary on this in the WSJ or most media outlets, you would think this entire investigation isn't going on as you watch CNBC wearing their Oil $130 party hats this evening!
What we are experiencing is a demand shock coming from a new category of participant in the commodities futures markets: Institutional Investors. Specifically, these are Corporate and Government Pension Funds, Sovereign Wealth Funds, University Endowments and other Institutional Investors. Collectively, these investors now account on average for a larger share of outstanding commodities futures contracts than any other market participant.
With very bold categories in his presentation like "Index Speculator Demand is Driving Prices Higher" Masters lays out a simple and compelling case that illustrates how over $250Bn of speculative money has poured into the commodities markets since 2003, driving the average cost of commodities indexed up 183% WITHOUT ANY SIGNIFICANT INCREASE IN ACTUAL DEMAND.
It's not just oil, there is a chart on page 4 of his presentation that shows how on Jan 1st 2003 sugar futures stockpiled totaled 2.3Bn pounds. On March 12th of this year, speculators had stockpiled 48Bn pounds of sugar. Soybean oil went from 163M pounds to 4.5Bn pounds, corn from 242M bushels to 2.4Bn bushels, coffee from 195M pounds to 2.4Bn pounds. wheat from 166M bushels to 1.1Bn bushels. Even cattle and hogs have had 10-fold increases in speculation. This is your "demand," 10 month supplies of commodities removed from the markets over 5 years and held by speculators who point to the "demand" as evidence of a tight supply - A TOTAL CROCK!
Speculators "consumed" as much additional oil as China in the past 5 years (848M barrels) while gasoline stockpiles have risen from 1.1Bn gallons to 3.5Bn gallons and natural gas stored by speculators has gone up from 331M BTUs to an insane 2.3 Billion BTUs. Aluminum - 10x, Nickel - 5x, Zinc - 10x, Copper - 7x, Gold - 10x, Silver - 15x — Madness!
In fact, Index Speculators have now stockpiled, via the futures market, the equivalent of 1.1 billion barrels of petroleum, effectively adding eight times as much oil to their own stockpile as the United States has added to the Strategic Petroleum Reserve over the last five years.
Demand for futures contracts can only come from two sources: Physical Commodity Consumers and Speculators. Speculators include the Traditional Speculators who have always existed in the market, as well as Index speculators. Five years ago, Index Speculators were a tiny fraction of the commodities futures markets. Today, in many commodities futures markets, they are the single largest force. The huge growth in their demand has gone virtually undetected by classically-trained economists who almost never analyze demand in futures markets.
I urge you to set aside the time to read this full report, it is an excellent presentation of pretty much everything I've been "ranting" about for 2 years put together by a guy who trades commodities for a living and is, as I am, totally fed up with the destruction of our economy and the suffering that is being caused by this rampant commodity speculation. In order for Goldman Sacks to make $1Bn, every driver on Earth needs to pay another $1 per gallon for gas this year - is that an efficient market? If all 2Bn of us just send GS a check for .50, THAT would be efficient. Unfortunately, as we discussed last week, Goldman's partners in crime who got together and formed the ICE back in 2003 (when all this started) also want their Billions - no matter what it costs you.
One particularly troubling aspect of Index Speculator demand is that it actually increases the more prices increase. This explains the accelerating rate at which commodity futures prices (and actual commodity prices) are increasing. Rising prices attract more Index Speculators, whose tendency is to increase their allocation as prices rise. So their profit-motivated demand for futures is the inverse of what you would expect from price-sensitive consumer behavior.
When Congress passed the Commodity Exchange Act in 1936, they did so with the understanding that speculators should not be allowed to dominate the commodities futures markets. Unfortunately, the CFTC has taken deliberate steps to allow certain speculators virtually unlimited access to the commodities futures markets.
Masters closes with the key issue, that:
The CFTC has granted Wall Street banks an exemption from speculative position limits when these banks hedge over-the-counter swaps transactions. This has effectively opened a loophole for unlimited speculation. When Index Speculators enter into commodity index swaps, which 85-90% of them do, they face no speculative position limits.
The really shocking thing about the Swaps Loophole is that Speculators of all stripes can use it to access the futures markets. So if a hedge fund wants a $500 million position in Wheat, which is way beyond position limits, they can enter into swap with a Wall Street bank and then the bank buys $500 million worth of Wheat futures. In the CFTC's classification scheme all Speculators accessing the futures markets through the Swaps Loophole are categorized as "Commercial" rather than "Non-Commercial." The result is a gross distortion in data that effectively hides the full impact of Index Speculation.
Additionally, the CFTC has recently proposed that Index Speculators be exempt from all position limits, thereby throwing the door open for unlimited Index Speculator "investment." The CFTC has even gone so far as to issue press releases on their website touting studies they commissioned showing that commodities futures make good additions to Institutional Investors' portfolios.
This is how the current administration, through the "Enron Loophole" and other directives to the CTFC, has perverted an organization that is supposed to be CONTROLLING speculation and turned them into more than an enabler, but an actual cheerleader for the commodity markets. You would think this would be news but the same people who are sucking over $2Tn a year out of our pockets (over and above what we paid for the same commodities 5 years ago) are also the people who control the mainstream media and the very government that is listening to this testimony.
In order to put a stop to this YOU have to act. YOU have to get mad, YOU have to tell people what is happening because no one else is doing it are they? Feel free to copy this, Email it, print flyers - whatever - this is something that needs to be talked about and what better time than the day oil hits $130 a barrel while you drive less than you did last year, when it was $51.03 in January!
http://www.elitetrader.com/vb/showthread.php?threadid=127609
aplusmnt said:OT you are doing it again, the voices are not real there is no one replying to you, you are only quoting and replying to yourself you need to start taking your medicine again! :shock:
Oil Could Fall Hard, Very Soon
By David Frazier
Oil prices rallied again yesterday, after pulling back a bit during the previous two days. However, trading volume was light and oil prices failed to move above their prior highs. Yesterday’s trading action suggests that oil prices will fall considerably within the next few days.
Meanwhile, growing political uproar over record oil prices could scare off investors, forcing oil prices lower.
For instance, U.S. presidential candidate Barack Obama recently suggested that oil companies should pay a 20 percent tax on every barrel of oil that is priced above $80. In my opinion, a “windfall profits tax” would do little to curb the supply-and-demand equation and therefore have no lasting impact on the price. However, political rhetoric promulgated by persons like Obama could scare away oil speculators in the near-term and lead to a decline in oil prices.
The threat of action by Congress also could push down prices. According to congressional testimony from hedge fund manager Michael Masters on May 20, speculation by institutional investors in the commodities futures market has largely been responsible for the dramatic increase in oil prices over the past four months. Of course, Masters acknowledged that the functional demand for oil has risen in the past five years, but he said that oil supplies have kept up with that increase in demand.
However, Masters pointed out, commodity index funds, such as the PowerShares DB Commodity Index Tracking Fund, are the biggest culprits behind rising oil demand. These funds are required to hold a certain percentage of physical oil to back their funds. Investors have flocked to these relatively new funds to take advantage of rising oil prices, which has, in turn, created an upward spiral in the price of oil. And that has caused overall demand — functional demand plus index-fund demand — to rise significantly above supply.
Although many stock market pundits and so-called oil experts claim that increased demand for oil from China has been the primary cause of the overall increase in oil demand, Masters pointed out that demand for petroleum futures over the past five years has risen by almost the same amount as the demand from China.
With the four-year congressional and U.S. presidential elections just around the corner, my experience suggests that Congress could soon implement measures to curb the fervent speculation in the commodities market. If Congress does take steps to limit the demand for oil from institutional investors, oil prices could fall sharply from their current levels.
Meanwhile, recent comments from Treasury secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to halt the decline in the value of the U.S. dollar also could cause oil prices to fall, given that oil is priced in dollars.
Over the longer-term, oil prices may continue to trend higher in the event that large consumers of oil don’t begin using alternative forms of energy. However, I don’t buy into the argument that oil prices will rise to several hundred dollars a barrel over the next couple of years, or that gasoline prices will rise to $6 a gallon by 2010.
In direct contrast, my experience suggests that consumers, businesses, and governments will quickly find substitutes for petroleum when the prices of those products reach a certain level. And, my research indicates we’re now at that point.
In fact, I recently spoke with a car salesman who said that business has been great because vast numbers of consumers have recently been trading in their gas-guzzling SUVs for small, fuel-efficient automobiles. Meanwhile, recent statistics from local governments show that the number of consumers using public transportation systems has increased dramatically over the past two months.
So, I urge you to not get caught up into the recent hype about oil prices going to $200 a barrel by the end of this year.