Gas prices

[xjeepguy]

Where in SK did they find that ?

Likely talking about the Bakken formation. Estimates of up to 400 billion barrels of light sweet crude of which 25% is under Sask. Some under SW Manitoba too.

Oh ya . Thats not a new discovery though , I heard 3-4 billion ( at today's technology )

[xjeepguy]

You are powerless to your oil bearing overlords ,REVOLT .Ride a bicycle more.

Problem with all the greenies and oil whiners and such is they are all hypocrites. If your going to whine give up EVERYTHING made of or from petrochems. Let us know how that works out , k ?

[twobits]

Oh ya . Thats not a new discovery though , I heard 3-4 billion ( at today's technology )

No it's not new. It's about 300 meters below the formation that they are currently tapping oil in Sask from. The tech to extract is moving quickly too. New horizontal drilling techniques and fracking methods that use just a 1/10 of the amount of water have bumped the recoverable Bakken oil to close to 30 billion barrels in Sask. That's what I'm thinking the chatter you heard might be about. Last paper I read on the subject said that because of the immensity of this resereve and it's expanse that some brilliant minds where devoted to innovatiing new extraction methods for it.

[kibbs]

Problem with all the greenies and oil whiners and such is they are all hypocrites. If your going to whine give up EVERYTHING made of or from petrochems. Let us know how that works out , k ?

the problem with all or nothing people is their apathy and instead of even allowing change or think its even necessary ,they do absolutely nothing ,get theirs and watch the world crash and burn so their kids get nothing.

[Crazy Horse]

Gas prices are all over the place right now. Golden at 127.9, revelstoke at 125.9, up to 141.9 on the coast, and here's it's 106.9 - up from 88.9 10 days ago. Not sure what the reason could be for such a huge increase in such a short time period and at such a strange time of the year.

But if I had to guess, I would venture that the Gov't, whether Federal or Provincial, had something to do with it. Since the increases are happening all over the country, I would guess Federal. And it's certainly nothing to do with supply, since Saskatchewan has apparently found a reserve larger than that of Saudi Arabia.

It isn't the government increasing gas prices. Don't forget, gasoline is a commodity and subject to a bunch of factors that affect its price, not just the price of crude oil. Supply and demand ( and oil company greed) are the bottom line. See this website for good insight;

http://www.tomorrowsgaspricetoday.com/

[Sn0man]

It isn't the government increasing gas prices. Don't forget, gasoline is a commodity and subject to a bunch of factors that affect its price, not just the price of crude oil. Supply and demand ( and oil company greed) are the bottom line. See this website for good insight;

http://www.tomorrowsgaspricetoday.com/

I'm not convinced the Gov't doesn't have something to do with it. Higher prices at the pump means more money in the coffers.

There's abundant supply and only average demand (It is only February, after all). Speculation can increase prices, but not by $0.20 - $0.30/litre over a period of two weeks.

But whatever - it is what it is.

[Glacier]

I'm not convinced the Gov't doesn't have something to do with it. Higher prices at the pump means more money in the coffers.

No it doesn't.

[Sn0man]

No it doesn't.

How do you figure?

[GordonH]

I'm not convinced the Gov't doesn't have something to do with it. Higher prices at the pump means more money in the coffers.

How do you figure that

Here are the taxes on fuel outside GVRD & Victoria

Motor fuel tax .145 cents per/litre
Carbon Tax .0667 cents per/litre
Federal Excise Tax .10 cents per/litre
GST which is % at point of sale

So where is this money maker for the Government............ it would be in their favour if the gas pump price was lower.
Reason lower price more sales = more litre's sold

How the GST should be charged:
Rack Price - .3117 (above taxes) = ???? x GST % = ???? (as it should be charged so their is no tax on tax)

[xjeepguy]

.

Oh ya . Thats not a new discovery though , I heard 3-4 billion ( at today's technology )

No it's not new. It's about 300 meters below the formation that they are currently tapping oil in Sask from. The tech to extract is moving quickly too. New horizontal drilling techniques and fracking methods that use just a 1/10 of the amount of water have bumped the recoverable Bakken oil to close to 30 billion barrels in Sask. That's what I'm thinking the chatter you heard might be about. Last paper I read on the subject said that because of the immensity of this resereve and it's expanse that some brilliant minds where devoted to innovatiing new extraction methods for it.

I know the consultant on our rig here is looking after some units down there , if I catch him on a good day I'll get some current info.
Go oil Go !!

[Crazy Horse]

I'm not convinced the Gov't doesn't have something to do with it. Higher prices at the pump means more money in the coffers.

There's abundant supply and only average demand (It is only February, after all). Speculation can increase prices, but not by $0.20 - $0.30/litre over a period of two weeks.

But whatever - it is what it is.

How would the government raise the price of gas? They don't have any control of the price, they simply collect their cut of sales.

And how do you know there is abundant supply? Gasoline inventories are not public knowledge in this country. (unlike the US)

[Rjamer]

twobits
I have read that there another formation beneath the Bakken in North Dakota ,,I can`t remember the name of it.. Not sure if it runs into SE Sask. or not but I sure hope so.. I have quite a few Bakken wells on my farm land in SE Sask.. They first drilled the Bakken on my land in 1985 but just a couple of vertical wells that petered out with in a few years.. It is the tech now that makes the difference..

[twobits]

twobits
I have read that there another formation beneath the Bakken in North Dakota ,,I can`t remember the name of it.. Not sure if it runs into SE Sask. or not but I sure hope so.. I have quite a few Bakken wells on my farm land in SE Sask.. They first drilled the Bakken on my land in 1985 but just a couple of vertical wells that petered out with in a few years.. It is the tech now that makes the difference..

Yes the new tech makes a big difference. Rather than just a vertical hole punched thru the formation, horizontal drilling allows the hole to run with the seam of oil bearing formation increasing surface area of the hole to which the oil can drain. Since the Bakken is a hard sandstone, fracking (fracturing) the formation also increases the drainage to the hole dramatically. Your vertical holes dried up because the oil in the sandstone around the hole that could easily drain into it has run it's course. Those holes can be left to rest for a few years and can be pumped again but the yeild will be ever diminishing.
I'm not so sure your current wells are in the Bakken?? Likely the formation 300 meters higher but you would know better than I based on your location. Are you near Estevan?

[Rjamer]

Yes the new tech makes a big difference. Rather than just a vertical hole punched thru the formation, horizontal drilling allows the hole to run with the seam of oil bearing formation increasing surface area of the hole to which the oil can drain. Since the Bakken is a hard sandstone, fracking (fracturing) the formation also increases the drainage to the hole dramatically. Your vertical holes dried up because the oil in the sandstone around the hole that could easily drain into it has run it's course. Those holes can be left to rest for a few years and can be pumped again but the yeild will be ever diminishing.
I'm not so sure your current wells are in the Bakken?? Likely the formation 300 meters higher but you would know better than I based on your location. Are you near Estevan?[/quote]
My land is in between Estevan and Weyburn in the Petrobakken leased land area..I don`t live out there any more..The oil field there has been going since 1954 .. It seems they keep on drilling new formations,,the Red River a few years back and now the Bakken.. The latest tech. makes all the difference..I saw in the Globe and Mail a week ago or so the Petrobakken is now drilling around Kerrobert , Sask.. which is West of Saskatoon. Not sure if they are drilling the Bakken or not but if they are,that is quite far North

[Rjamer]

It is the Bakken for sure,, twobits. They were drilled by Petrobank,now Petrobakken and my minerals were drilled by Crescent Point.. I wouldn`t want to live there any more,,Too busy ..