No Relief From Toronto Gas Prices Anytime Soon.

The following is an excerpt from this mornings Toronto Star.


“Drivers expecting relief at the gas pumps this summer aren't going to be happy.
Gasoline prices in the province are at a nine-month high, with some retail stations in Toronto charging as much as $1.09 per litre yesterday for regular unleaded fuel.

"I expect prices to remain higher than they normally would be," said Spencer Knipping, petroleum adviser to the Ontario Ministry of Energy.
It wasn't supposed to happen this way. In February, prices spiked above $1 per litre after a fire at Imperial Oil Ltd.'s Nanticoke refinery restricted supply in Ontario.
A temporary blip, we were told. Once that mess was cleaned up, the expectation was that prices would inch lower.

Or not. Industry experts say the Nanticoke fire merely masked a larger problem south of the border, which sets the wholesale price for gasoline in Canada.

I find it pretty hard to believe this line of crap thinking. For one, we are the biggest supplier of oil to the U.S. in the world as I have stated in previous posts. Two, with that kind of abundance in oil sitting out west why in the hell would we let the “South of the border gang” set our gas prices? I know Canada follows the States for the most part but come the fuck on.
"There has been an unusually high number of refinery glitches in the United States," said Knipping, adding the disruptions have led to declining U.S. gasoline inventories for 11 straight weeks.

What the hell????????? Now everybody’s refineries are all of a sudden running into problems both north and south of the border? But you watch, Exxon will report another solid quarter of billions in profit again as will the Canadian companies and the gas reserve which was “running on empty” will all of a sudden replenish itself around mid-July when they’ll decide to give us a price break for a few weeks.

Most recently, a lightning strike caused a fire and explosion at a small refinery in Oklahoma, while a power outage closed part of a Texas refinery.
The U.S. Energy Department said last week that U.S. gasoline stockpiles fell by another 2.8 million barrels to an 18-month low. Inventory levels are now below their five-year average. It's a bad sign with the May 24 Victoria Day holiday, the unofficial summer kickoff, just three weeks away.

The previous statement is nothing but pure fear mongering folks.

"It exacerbates an already difficult situation," said Knipping, who added that stockpiles "should be increasing this time of the year so inventories can be rebuilt for the summer."
Analysts are concerned that the next U.S. inventory report, to be released today, will show a continuing decline.

"There's a fear built into the market that there won't be enough gasoline for the summer driving season," said Erit Wittenauer, an energy futures analyst at A.G. Edward & Sons in St. Louis.”

Those Seven words above are huge keys to the way things are run today and also why John Q. Public is always run roughshod, never knowing the real story.
Especially the first three words people……………..the most recent juicing of the public began back in 2001 and it will never stop. The people who write the rules can smell your fear and because of it we will all pay dearly. There will always be a perpetual shortage of something and as I said to one of my friends a few weeks ago….”You have seen the last of $.99/litre gas.”