Economy 52,842 Posted March 27, 2020 Share Posted March 27, 2020 https://www.bnnbloomberg.ca/feds-to-cover-up-to-75-of-small-business-salaries-trudeau-1.1413442 Canada's Oil is trading for about $6/barrel but shippers like pipelines take up to $7 to $9 a barrel to transport the Oil and Trains up to $15 to $20 a barrel However because simply stopping extraction would damage fields and there are contracts that must be fulfilled, Oil companies are producing Oil at direct losses not counting other expenses Link to post Share on other sites More sharing options...
Economy 52,842 Posted March 27, 2020 Author Share Posted March 27, 2020 @Woolfsmck $6/barrel what the hell Link to post Share on other sites More sharing options...
Floppy 7,951 Posted March 27, 2020 Share Posted March 27, 2020 What is going on.... This is unrelated but gas in California is under 3 dollars and I'm SHOOK Link to post Share on other sites More sharing options...
Jasoneg1990 232 Posted March 27, 2020 Share Posted March 27, 2020 6 minutes ago, Floppy said: What is going on.... This is unrelated but gas in California is under 3 dollars and I'm SHOOK I got it for 1.36 a gallon in Virginia today 😂 Link to post Share on other sites More sharing options...
ShayCristoforo 10,607 Posted March 27, 2020 Share Posted March 27, 2020 My friend filled up her car for like $19 in the Port Dover area lol. Crazy times Get the pinot ready, because it's turtle time. Link to post Share on other sites More sharing options...
Gabe 2,582 Posted March 27, 2020 Share Posted March 27, 2020 86c a litre this week in Montreal, my jaw dropped. Link to post Share on other sites More sharing options...
Economy 52,842 Posted March 27, 2020 Author Share Posted March 27, 2020 3 minutes ago, Gabe said: 86c a litre this week in Montreal, my jaw dropped. Oh yeah gas is more expensive in Quebec lol Here in Toronto area it's 60 cents to 65 cents depending on the gas station If only I could have prices like this when I'm going to work and actually need to drive My dad gets to fill the tank for almost half the price tho. Helps to somewhat offset rising grocery bills Link to post Share on other sites More sharing options...
Economy 52,842 Posted March 27, 2020 Author Share Posted March 27, 2020 20 minutes ago, Floppy said: What is going on.... This is unrelated but gas in California is under 3 dollars and I'm SHOOK Oil demand has collapsed that's what's going on Add to the fact that Russia and Saudi Arabia are tired of cutting production to raise prices only to have US shale raise production and lower prices again Russia said no more and they will produce what they want and not let American producers take more market share so since Russia left the cut deal with OPEC Saudi Arabia decided to also pump as much as it can to fight for market share So at the moment we have more supply happening at the same time as decreased demand from Coronavirus Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted March 27, 2020 Share Posted March 27, 2020 49 minutes ago, Economy said: @Woolfsmck $6/barrel what the hell Yikes. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
.thumb.jpg.99c40bc2a10ded8236a48b4fe15c6be8.jpg)
Featured Posts
Archived
This topic is now archived and is closed to further replies.