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05-26-2007, 12:45 AM #1
Incredible New Claim For Why Gas Prices Are So High: Competition
If there are two words in the English language that can send temperatures boiling faster than a summer heat wave it's these: "gas prices." Motorists are still incensed over the inflated price of fuel, which reached its highest level in Canada this month since the post-Hurricane Katrina period of 2005. And with the summer driving season upon us, those rates are expected to escalate even more.
Every driver has heard the reasons behind the seemingly never-ending spikes: supply and demand, shortages in the U.S., tensions with Iran, a strike in Nigeria, market speculations and more. But just wait until you hear the latest excuse being trotted out for what you're paying at the pump. According to the New York Times, oil executives are blaming the hunt for alternative fuels as the reason our current power source is costing us all so much.
They claim that recent calls for the use of biofuels - like ethanol, which is made from corn - are a "disincentive" to invest in building expensive new refineries, which would increase output and potentially lower costs. Officials claim they were looking at the idea of upping the amount of gas they could make by constructing the new plants, but that a push by the U.S. in the direction of alternatives means it doesn't make economic sense.
It's kind of a reverse "Field of Dreams" - if you build it, we won't come. And it appears to be a direct challenge to those who are looking to wean the west off its endless oil dependence.
This rhetoric comes on the heels of a move down south that will make many Canadians sit up and take notice. The U.S. House of Representatives voted on Wednesday to fine any oil company found to be charging excessive amounts for gasoline. But President Bush is expected to kill the bill, arguing it's too close to price controls. Prime Minister Stephen Harper has also rejected any government intervention into soaring gas prices, insisting it's all due to market forces.
The cost of a fill-up has come down slightly in the GTA this week, hovering around the $1.05 mark. But it's still not below the psychological loonie-a-litre level and analysts warn it's not likely to go that low for the next few
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05-26-2007, 11:03 AM #2
I was wondering when this reasoning would surface.
The gas co's last ditch effort to suck us dry before mass conversions to alternate fuels.
Kind of a mafia mentality.
"What?! you're not gonna buy my gas anymore? Fine I'll just punish your friends and family who still do buy it with higher prices! That'll learn ya!"Patrick
05-26-2007, 11:44 AM #3
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When their making the amount of profits they have over the last few years maybe it's time for government to step in and put some kind of control on big oil, or take away some of their prefered tax breaks. Fuel controls most of our economy.
05-26-2007, 05:20 PM #4
05-26-2007, 11:00 PM #5
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05-26-2007, 11:00 PM #6
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