2$ to 3$ a litre gas this summer

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They are not losing money right now... they are making crazy good money.... but that hasn't been the case for the last 10 years. They racked up huge debt trying to stay aflot.

Believe it don't believe it.

We are suffering from a lack of investment over the last 10 years. Everyone wanted no pipelines, no refinery's, curb production, shut down drilling.

www.bbc.com

Denmark set to end all new oil and gas exploration

The European Union's largest oil producer plans to stop extracting fossil fuels by 2050.
www.bbc.com www.bbc.com

Helene Hagel, Head of climate and environmental policy at Greenpeace Denmark says:

“This is a watershed moment. Denmark will now set an end date to oil and gas production and bid farewell to the future licensing rounds for oil in the North Sea, so the country can assert itself as a green frontrunner and inspire other countries to end our dependence on climate-wrecking fossil fuels. This is a huge victory for the climate movement and all the people who have pushed for many years to make it happen.”
 
Friday Harbour CAD Price liter 1.861 for regular and 1.928 for ethanol free. Looks like it's worth me trailering to the Co-op in Victoria for marked gas rather than trying to slip a fast one by customs. Does anyone fill up at Costco for their boats?

Oil companies continue to pay dividends year after year. Quit arguing if they accumulated debt or lost money. They always make money off the backs of workers and small suppliers who often suffer during the lean years.
 
www.reuters.com

Permanent oil refinery closures accelerate as pandemic bites - IEA

Permanent refining capacity closures expected for 2020-2021 have risen to about 1.7 million barrels per day (bpd) as the COVID-19 pandemic hammers demand for oil products, the International Energy Agency said on Thursday.
www.reuters.com www.reuters.com

www.hydrocarbonprocessing.com

Pandemic hastens threat of closure for struggling oil refineries

The collapse in oil demand from the COVID-19 pandemic is hastening the reckoning for those refiners already struggling as new capacity overtakes demand, posing an existential threat to many, particularly Europe’s ageing plants.
www.hydrocarbonprocessing.com www.hydrocarbonprocessing.com
 
kaelc said:
Oil companies continue to pay dividends year after year. Quit arguing if they accumulated debt or lost money. They always make money off the backs of workers and small suppliers who often suffer during the lean years.
Click to expand...

you must of not been invested in oil companies as the cut dividends and sold of assets.

financialpost.com

Baytex Energy cuts spending, ends dividend to preserve cash in oil collapse

The Calgary company says it’s taking 'difficult but necessary steps' to get past current low prices, including a reduced capital program and the suspension of…
financialpost.com financialpost.com

www.mylloydminsternow.com

Husky Energy cuts dividends after posting $1.7 billion loss this quarter : My Lloydminster Now

Husky Energy has cut its dividend by 90 per cent after a $1.7 billion net loss in the first quarter. The company will now pay a quarterly dividend of 1.25 cents […]
www.mylloydminsternow.com www.mylloydminsternow.com

www.bnnbloomberg.ca

Economic 'train wreck' prompts Husky's 90% dividend cut - BNN Bloomberg

A global economic "train wreck" caused by actions to control the COVID-19 pandemic will likely continue to destroy value for some time and the only strategy is to try to minimize the damage, the CEO of Husky Energy Inc. said Wednesday.
www.bnnbloomberg.ca www.bnnbloomberg.ca

www.bnnbloomberg.ca

Suncor slashes dividend 55%, swings to $3.5B quarterly loss - BNN Bloomberg

Suncor Energy Inc. is cutting its dividend by more than half after it swung to a multi-billion-dollar loss in the first quarter as the COVID-19 pandemic and a short-lived price war between Saudi Arabia and Russia battered crude prices.
www.bnnbloomberg.ca www.bnnbloomberg.ca

www.reuters.com

Shell cuts dividend for first time since World War Two

Royal Dutch Shell <RDSa.> cut its dividend for the first time since World War Two on Thursday in a drastic step to preserve cash as it prepares for a protracted slump in demand for oil because of the coronavirus pandemic.
www.reuters.com www.reuters.com
 
wildmanyeah said:
you must of not been invested in oil companies as the cut dividends and sold of assets.

financialpost.com

Baytex Energy cuts spending, ends dividend to preserve cash in oil collapse

The Calgary company says it’s taking 'difficult but necessary steps' to get past current low prices, including a reduced capital program and the suspension of…
financialpost.com financialpost.com

www.mylloydminsternow.com

Husky Energy cuts dividends after posting $1.7 billion loss this quarter : My Lloydminster Now

Husky Energy has cut its dividend by 90 per cent after a $1.7 billion net loss in the first quarter. The company will now pay a quarterly dividend of 1.25 cents […]
www.mylloydminsternow.com www.mylloydminsternow.com

www.bnnbloomberg.ca

Economic 'train wreck' prompts Husky's 90% dividend cut - BNN Bloomberg

A global economic "train wreck" caused by actions to control the COVID-19 pandemic will likely continue to destroy value for some time and the only strategy is to try to minimize the damage, the CEO of Husky Energy Inc. said Wednesday.
www.bnnbloomberg.ca www.bnnbloomberg.ca

www.bnnbloomberg.ca

Suncor slashes dividend 55%, swings to $3.5B quarterly loss - BNN Bloomberg

Suncor Energy Inc. is cutting its dividend by more than half after it swung to a multi-billion-dollar loss in the first quarter as the COVID-19 pandemic and a short-lived price war between Saudi Arabia and Russia battered crude prices.
www.bnnbloomberg.ca www.bnnbloomberg.ca

www.reuters.com

Shell cuts dividend for first time since World War Two

Royal Dutch Shell <RDSa.> cut its dividend for the first time since World War Two on Thursday in a drastic step to preserve cash as it prepares for a protracted slump in demand for oil because of the coronavirus pandemic.
www.reuters.com www.reuters.com
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Baytex Energy, nope. The others still paid dividends, I acknowledge they cut dividends, projects and their stock prices are hurting and it hurts a lot of Canadian investors. The rush to earnings and short-term stock prices is harmful, especially in painful lean times. Try selling to oil&gas any improvements in production or environment in lean years. I am invested primarily in index funds and like real investors ie BlackRock ( I'm not a real investor as I'm over-invested in Victoria Realestate and my own business) I do believe that sustainability in investments is more important than short term profits. The fires and flooding in AB and BC worry me a hell of a lot more than the price of fuel driving inflation. Politicians should be focused on relief for low-income Canadians not us boat gas burners.
 
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Anybody else see Albertas premier on the news tonite? Even he’s starting to ask why the huge profits oil companies are making isn’t translating into more jobs for Canadians.
 
Kinda seems odd to have thousands of Canadians go to new jobs in the oil field if we’re planning to shut it down?

unless we’re now saying we want to see the oil sands expanded?
 
I think the climate change ENGO idealists need a wake up call. Canada is not ready to transition to electric vehicles - no infrastructure, no vehicles available to meet demand. What is the point of a Carbon Tax, especially now when everyone is struggling and Canada's economy is in a tailspin due to inflationary forces helped along by cost of fuel. Axe the tax for crying out loud.

Dump it on the Chinese imports and call her good. We don't need cheap Chinese imports as much as we need to bring fuel costs in line. And, if Canada really cared about us, the politicians should bring about emergency legislation to create a Canadian Energy Policy that set a goal of energy self-sufficiency in 5 years....no more imports from the Saudi's. Why are we pissing away our wealth to other oil importers.

How about our own home spun oil to keep those jobs and wealth here. Or, how about a short-term cap on Oil Company profits. Canadians need help, yet it appears even our politicians are drunkenly stupid from consuming the tax profits from uber expensive fuel. Easy to scape goat Covid or the War as a way to dodge the political bullet.

Hopefully the Conservatives pick up on these sorts of ideas and building Canadian frustrations about how the current clowns have botched our Energy policies...we need a real change in direction before the economic death spiral tanks Canada in the toilet.
 
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"Got to wonder how this is going to affect boating and boats for sale. All those folks that bought boats at inflated prices during Covid might start rethinking their purchase."

The above quote is from the OP's first post on this topic. It is related to fishing and boating, so aligns with this fishing forum. We are now heading into the political conversation around carbon tax, government failures, big oil, etc. It has been stated many times on here that, while many of these political posts are hot button topics, they are not going to happen here on this fishing forum. Just not interested in constantly cleaning up the mess that comes with them and there is always another place on the internet that will welcome the politically charged debate. Going to give this one more try to stay on topic as to how it relates to your fishing or boating plans.
 
wildmanyeah said:
DFO has cut my gas bill more then anything, used to go out once a week on April and may
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Fuel prices do have me thinking about what I do on my boating days, and I only run a 90 and 9.9 these days. Time to buddy up and share the cost.

The current leaders of our province have been accused of not wanting to have prices lower, as it will accelerate the population into electric vehicles.
 
Pretty sure a lot of the high price is politically motivated.

Being partners with the gas companies via taxes it is paying for a lot of covid benefits.
It is a hidden tax type thing where the Gov isn't really increasing taxes, just benefiting from high price gouging.

That said in Canada, Vancouver, 2.20 a litre is hard to swallow

BUT

If you take the time to go to the States, say Pt Roberts, you can buy gas for $1.71 a litre Canadian dollars, less in Bellingham, Ferndale or Sumas.

My boat hold 80 US gallons, that is just shy of 303 litres, a saving of $148.00
PLUS
I get to fill up my pick up which holds 120 litres a saving of another $58.00
AND
You are allowed to take six 5 gallon gas containers back as well an additional $55.00 savings
and
A 5 gal tank for the kicker save $9.00

While the total bill is $755 +/- the savings are over $260.00

Might be worth the time or not

But if you can find FARM/MARKED/PURPLE/ GAS you save quite a bit too. I haven't checked aviation gas yet but it works good in high performance off road racing vehicles
 
Fishing? said:
Pretty sure a lot of the high price is politically motivated.

Being partners with the gas companies via taxes it is paying for a lot of covid benefits.
It is a hidden tax type thing where the Gov isn't really increasing taxes, just benefiting from high price gouging.

That said in Canada, Vancouver, 2.20 a litre is hard to swallow

BUT

If you take the time to go to the States, say Pt Roberts, you can buy gas for $1.71 a litre Canadian dollars, less in Bellingham, Ferndale or Sumas.

My boat hold 80 US gallons, that is just shy of 303 litres, a saving of $148.00
PLUS
I get to fill up my pick up which holds 120 litres a saving of another $58.00
AND
You are allowed to take six 5 gallon gas containers back as well an additional $55.00 savings
and
A 5 gal tank for the kicker save $9.00

While the total bill is $755 +/- the savings are over $260.00

Might be worth the time or not

But if you can find FARM/MARKED/PURPLE/ GAS you save quite a bit too. I haven't checked aviation gas yet but it works good in high performance off road racing vehicles
Click to expand...
Don’t get caught with “ farm marked “ gas or fuel in your tank. The fine will make any savings non existent. I bet they’ll be checking more frequently this coming summer as well.
 
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