BC Inquiry into gasoline pricing

Re: BC Inquiry into gasoline pricing

Postby Chyren » Jul 19th, 2019, 9:18 am

Ultimately the reality is the only thing that will bring prices down overall is when the companies have oil and gas they're sitting on. The market as it is in its current state is artificial. The oil companies are sitting on lots of oil and slowing production to keep prices high. The pump price today reflects around a 90-100 dollar a barrel oil price not the current 60 dollar mark.

Once oil stocks overflow again like they did a few years ago then you will see the prices, and unfortunately Canadian jobs, plummet.

I wonder if all those young people who lost their jobs the last time oil crashed remembered to save their money this time when they were called back...

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Re: BC Inquiry into gasoline pricing

Postby gordon_as » Jul 19th, 2019, 11:34 am

Hurtlander wrote:, I think the oil companies simply charge what they think they can get away with. Perhaps an inquiry into gas pricing isn’t such a bad idea.


And this snippit from Hurtlander is about all everyone needs to understand. Most else on this thread is little more than political rhetoric. You blame current government for past governments' deficiencies if you want. You can blame all governments for corporate decisions if you want. Nothing changes the above fact.
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Re: BC Inquiry into gasoline pricing

Postby fluffy » Jul 19th, 2019, 12:12 pm

Hurtlander wrote:, I think the oil companies simply charge what they think they can get away with. Perhaps an inquiry into gas pricing isn’t such a bad idea.


gordon_as wrote:And this snippit from Hurtlander is about all everyone needs to understand. Most else on this thread is little more than political rhetoric. You blame current government for past governments' deficiencies if you want. You can blame all governments for corporate decisions if you want. Nothing changes the above fact.


Business is business. Look at rents in BC, or cel phone plans. They charge what the market will bear, and as long as people are buying they have no incentive to bring prices down. Governments of any stripe are loathe to muck with a free market economy.
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Re: BC Inquiry into gasoline pricing

Postby twobits » Jul 20th, 2019, 5:28 pm

fluffy wrote:Business is business. Look at rents in BC, or cel phone plans. They charge what the market will bear, and as long as people are buying they have no incentive to bring prices down. Governments of any stripe are loathe to muck with a free market economy.


And what you are actually talking about is supply and demand is it not? Restrict cell phone suppliers to create oligopoly barriers to competition and you get higher rates.
Rents in BC were market driven just like they are for any other product or service. Just wait and see what happens to the rental supply market with the NDP 2% cap on rent increases for existing tenants. They are not so loathe to intervene are they?
Despite the counter intuitive lure of the argument, gov't control of any pricing never ends well for joe taxpayer and also makes joe investor scurry away to a more favourable market.
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Re: BC Inquiry into gasoline pricing

Postby fluffy » Jul 21st, 2019, 10:43 am

twobits wrote:Despite the counter intuitive lure of the argument, gov't control of any pricing never ends well for joe taxpayer and also makes joe investor scurry away to a more favourable market.


Well it's getting hard to ignore the fact that there are a larger and larger number of people being left in the dust due to spiraling living costs. Isn't some form of government intervention becoming something we can't turn away from? Joe investor is in it for the money, as is joe elected official and joe CEO and joe landlord, do they care about the working poor and homeless? Is it coincidence that vacancy rates for rental properties are climbing as rent goes up?

Without government control we are left with corporate responsibility, and there is precious little of that left.
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