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something is seriously wrong.....
Oil price (Brent) & Energy stocks are showing divergent trend. (not a good news: either stocks are undervalued & are due for a bounce & catchup to Oil price; or is Oil running on its own due to geopolitical reasons & stocks are discounting the fear).
http://www.hardassetsinvestor.com/im...io20120329.jpg
Canadian oil is one of the least efficient sources of oil. Iraqi or Saudi light sweet crude requires one barrel of oil energy to produce 50+ barrels of oil. Canadian tar sands oil requires 1barrel of oil energy to produce 1.5 barrels of oil.
Iraqi oil flows easily, canadian tar sands oil requires steam injection and the use of solvents to extract product. Steaming the bitumen off of the grains of sand using huge amounts of energy.
Gas prices are a ridiculous joke:
At the pump (where you take real delivery into your car gas tank), price is 1.40 & above (in Toronto & suburb area)
whereas Oil price on the exchange or the markets where futures/options/etc are traded by traders, its down to $102.80/barrel.
(based on this figure gas prices at the pump should be $1.02/lit)..
reports are $2/lit at the gas pump is quite possible (depending upon how middle east situation unfolds)..
The question is "How do you protect yourself when the Govt. itself is robbing you"
If anybody needs to re-finance their mortgage in order to pay for gasoline this year. . . just let me know. . . :sad1:
I went to the USA last week and it was $4.04 per US Gallon. So it works out to $1.00 cheaper in the USA then Canada. $4.04 per gallon=$1.03 per litre. Last I checked here it was around $1.34 a litre. So wait, it's not $1.00... I thought it was....
I hate this conversion thing! Okay 1 gallon=3.785 litres. So I calculated 1.34X3.785=5.07. So yeah it is about $1.03 cheaper per in the USA. This time I did not need gas so I didn't bother filling er up.
Makes you wonder why there is a 1 and a half hour delay this weekend at the Niagara Fall, NY border?