So, Does $2.00 a litre affect your fishing?

Foxsea · Nov 2, 2021

walleyes said:
$2.00 is going to be cheap. My bet is within 2 years it will be closer to $4.00. The way the governments are forcing this green movement on us and companies all that money will be transferred over to the customer. Carbon taxes of $170/ $200 tonne are coming. Fuel taxes and transportation costs are going to go through the roof and again no one but the small guy will pay for this. Many are predicting $120/bbl oil here soon. Just look at inflation over the last 6 months to a year and that is peanuts to what’s coming. Bank of Canada is eyeing up multiple rate hikes over the next few months. Buckle up kids,, it’s going to get tough. Excess capital is going to get thin for many.

Oh well,, they are getting what they voted for hard to feel sorry for people.

I'm not sure where your information came from:
"A majority of economist surveyed expects the Bank of Canada (BoC) will keep its ‘Target Rate’ at the ‘effective lower bound’ of 0.25% until mid-2022.

The Bank of Canada says it will keep variable interest rates low until the economy has recovered and inflation has reached roughly 2 percent. Inflation is currently running above 4% because of supply chain disruptions. The expectation of prolonged lower interest rates shows the economy is unlikely to recover fully until late 2022.

In this area the very few homes for sale often have multiple offers and sell for $100,000 over asking, well > $1,000,000 cash, no conditions. These enthusiastic buyers have no concerns with mortgage rates.

As for oil prices:
Earlier this week, Fitch Solutions Country Risk & Industry Research released its latest oil price forecasts to 2025. These projected that Brent crude prices will average $70 per barrel in 2021, $67 per barrel in 2022, $68 per barrel in 2023, $70 per barrel in 2024 and $73 per barrel in 2025. The Bloomberg Consensus forecasts that Brent crude prices will average $69 per barrel this year, $66.5 per barrel next year, $66 per barrel in 2023, $70 per barrel in 2024 and $65.7 per barrel in 2025. OPEC is expected to continue to maintain this tight trading range.

You are making things up in an alarmist's style. Is the sky falling ... again?

ziggy · Nov 2, 2021

Im sure it’s going to result in longer lines for electric cars etc. People are pretty resilient and will adapt. It’s not going to be easy but I suspect given the signals from Trudeau this is just the start. At a certain point we will hit the tipping point where not all, but certainly all unnecessary, use of gas will be extremely limited. I suspect that’s the governments aim, make gas so expensive no one can or will buy it? At $4 a litre that might just be it for me. The oil and gas industry has to be careful to not price itself out of the market.

cracked_ribs · Nov 2, 2021

Well why don't we all look on the bright side: we'll all still be buying lots of fuel, even if it hits $4/l.

Politicians and bureaucrats who live on our tax dollars, as well as government agencies with big fleets to rely on, will be using gas cards and we'll be paying for those...so there will be a bunch of Canadians who never feel the pinch, and all us regular joes can sleep soundly at night knowing we're still buying lots of fuel. Plus the real cost of $4 gas will be taxes, so not only are you paying for the luxury of super expensive fuel for fellow Canadians (who are your moral superiors, let's not forget) but you're helping them contribute to paying the egregious fuel taxes with the tax money they took from you in taxes.

Of course, they might convert the fleet cars to electric. After all...replacing government vehicles with Teslas is easy when it's just a government program, that money is free!

Thanks for paying in, everybody, hope this made everyone's heart swell with patriotic fervour.

Loghauler · Nov 2, 2021

Less boats on the water better fishing
I hope !

tubber · Nov 2, 2021

I bought a 1975 Honda civic hatchback in 1980.
Some people were transitioning back to big cars and pickups after the oil worries of the 70s.
Richmond to UBC everyday for $5/week. And we car pooled.
I've always been frugal, hence the 1977 whaler with a 50hp. Rat's nose on rare nice days, Wya or Barkley on the others.

sir-vivor · Nov 2, 2021

can't wait until the electric age takes over the fossil fuel those fat cat oil tycoons will be crying for sales but then again the fat cat electrical tycoons will take over so ......... whats my point , get some golf clubs and buy a new house in cash haha

wildmanyeah · Nov 2, 2021

Foxsea said:
"A majority of economist surveyed expects the Bank of Canada (BoC) will keep its ‘Target Rate’ at the ‘effective lower bound’ of 0.25% until mid-2022.

Ill be surprised if they wait that long but they are calling the current inflation rate "transitory"

wildmanyeah · Nov 2, 2021

Inflation, wage data, challenge Fed 'transitory' narrative

Price and wage increases running at multi-decade highs may challenge Federal Reserve officials this week as they try to maintain a balance between ensuring inflation remains contained and giving the economy as much time as possible to restore the jobs lost since the pandemic.

www.reuters.com

RiverBoy · Nov 2, 2021

Stizzla said:
Not this guy…
Company gas card for the truck and a new yamaha 4 stroke for the eagle.
One of these days I’m gonna get Mrs. Stizzla a Tesla so gas stations will pretty much not be of a concern anymore.

would you call that a Stessla?

Gong Show · Nov 2, 2021

I call bs on the transitory inflation.
I had to hire a receptionist. It's now illegal to pay a receptionist what I started the last receptionist at.
I provide pretty good benefits too, so the wage is just part of it.
So the new receptionist meant I had to give everyone a raise. I have raised prices twice in the past year.
I wanted a graph, did not want to make it political, my apologies. This will have an impact, just like gas, cost of insurance etc...

wishiniwasfishin1 · Nov 2, 2021

Gong Show said:
I call bs on the transitory inflation.
I had to hire a receptionist. It's now illegal to pay a receptionist what I started the last receptionist at.
I provide pretty good benefits too, so the wage is just part of it.
So the new receptionist meant I had to give everyone a raise. I have raised prices twice in the past year.
I wanted a graph, did not want to make it political, my apologies. This will have an impact, just like gas, cost of insurance etc...
View attachment 72016

I can’t imagine ever thinking someone could survive in 2021 on $12 an hour or whatever you paid your last receptionist. I am a business owner as well and struggling to find and decent CAD / project manager for $30 an hour.

wildmanyeah · Nov 2, 2021

Gong Show said:
I call bs on the transitory inflation.
I had to hire a receptionist. It's now illegal to pay a receptionist what I started the last receptionist at.
I provide pretty good benefits too, so the wage is just part of it.
So the new receptionist meant I had to give everyone a raise. I have raised prices twice in the past year.
I wanted a graph, did not want to make it political, my apologies. This will have an impact, just like gas, cost of insurance etc...
View attachment 72016

I have a friend who owns an office supply company, all his wholesalers have increased prices 10% in the last year.

Gong Show · Nov 2, 2021

Yeah I get it. I want to pay my folks well, and that means $20/hr instead of $14, like it was three years ago.
Granted, I was hiring a fresh out of high school receptionist and am now hiring someone with a bit of experience, but payroll is now a very big deal.

ab1752 · Nov 2, 2021

Try hiring for specific IT skills, I can't get guys to show up for under a buck and a half per year. It's a spendy world out there!!

Foxsea · Nov 2, 2021

You get what you pay for. Labour is now in short supply so you will have to pay more for good staff that sticks - and that's never the minimum wage crowd.

If you have a viable business model the cost of labour is rarely the most critical input cost anymore. But your labour costs will go way up if your retention rate is lousy. And that often costs you customers, as well.

wildmanyeah · Nov 2, 2021

Gong Show said:
Yeah I get it. I want to pay my folks well, and that means $20/hr instead of $14, like it was three years ago.
Granted, I was hiring a fresh out of high school receptionist and am now hiring someone with a bit of experience, but payroll is now a very big deal.

I had friends that worked for free as a receptionist at a law office, pretty big resume builder.

2010 was a different time tho it wasn’t an any warm body will do like we are at now.

wildmanyeah · Nov 2, 2021

Foxsea said:
You get what you pay for.

I wish that was true it make hiring so much easier

my experience is a good attitude can’t be bought so have it some don’t.

Foxsea · Nov 2, 2021

Many countries in Europe such as Netherlands, Germany, Sweden and even oil-producing Norway have been paying $2/liter for a while - and life there carries on nicely. If you want really cheap gas, Saudi Arabia and Venezuela come to mind.

Foxsea · Nov 2, 2021

wildmanyeah said:
I wish that was true it make hiring so much easier

my experience is a good attitude can’t be bought so have it some don’t.

True, and it's amazing the great attitudes people will have when they are appreciated, eg. you pay a liveable wage.

walleyes · Nov 2, 2021

Foxsea said:
I'm not sure where your information came from:
"A majority of economist surveyed expects the Bank of Canada (BoC) will keep its ‘Target Rate’ at the ‘effective lower bound’ of 0.25% until mid-2022.

The Bank of Canada says it will keep variable interest rates low until the economy has recovered and inflation has reached roughly 2 percent. Inflation is currently running above 4% because of supply chain disruptions. The expectation of prolonged lower interest rates shows the economy is unlikely to recover fully until late 2022.

In this area the very few homes for sale often have multiple offers and sell for $100,000 over asking, well > $1,000,000 cash, no conditions. These enthusiastic buyers have no concerns with mortgage rates.

As for oil prices:
Earlier this week, Fitch Solutions Country Risk & Industry Research released its latest oil price forecasts to 2025. These projected that Brent crude prices will average $70 per barrel in 2021, $67 per barrel in 2022, $68 per barrel in 2023, $70 per barrel in 2024 and $73 per barrel in 2025. The Bloomberg Consensus forecasts that Brent crude prices will average $69 per barrel this year, $66.5 per barrel next year, $66 per barrel in 2023, $70 per barrel in 2024 and $65.7 per barrel in 2025. OPEC is expected to continue to maintain this tight trading range.

You are making things up in an alarmist's style. Is the sky falling ... again?

Getting off topic but some reading for you.

Bank of Canada ends QE; moves up timeline for rate hike - BNN Bloomberg

The Bank of Canada ended its bond-buying stimulus program and accelerated the potential timing of future interest rate increases amid worries that supply disruptions are driving up inflation.

www.bnnbloomberg.ca

Bank of Canada Maintains Target Overnight Rate, Hints at Coming Rate Hikes | Ratehub.ca

Bank of Canada maintains target overnight rate, hints at coming rate hikes

www.ratehub.ca

Expect mortgage rates to rise in 2022, economists say

Economists predict the Bank of Canada’s interest rate could increase by 50 to 75 basis points by the end of next year, something they say will undoubtedly also raise Canadian mortgage rates.

www.ctvnews.ca

CIBC's Tal to homebuyers: Start preparing for rising rates - BNN Bloomberg

A prominent Bay Street economist said if the market is correct in its “aggressive” expectation that the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022, then homebuyers should start preparing sooner rather than later.

www.bnnbloomberg.ca