More bad news for North America’s economy.

I’m not sure how this is bad news. Lower fuel prices means we can all afford to spend a little extra money elsewhere, which translates into a better outcome for the economy. Just the way I see it. I’m so grateful the prices have finally dropped. Living on the Hart, taking Foothills every day to work, 5 days a week is very expensive.

Maybe by the Fall, Costco would be selling diesel. Wouldn’t that be nice.

It is bad news. And I sincerely hope that the price rises soon.
As I have said before, the government is losing a great deal of money right now, and they WILL have no choice but to raise taxes to cover it. So whatever you are saving, you should put away for the inevitable taxes that you will whine about later.

One thing we can all be sure of
it will go up and
it wn’t take near as long to go up and ishas to come down.

Actually I have read where it could be good for the economy overall, with trade, transportation, manufacturing.

Fuel usage will go up resulting in more taxes paid, hey more carbon tax, yeh.

News2me: “….the government is losing a great deal of money right now, and they WILL have no choice but to raise taxes to cover it.”

Here is the downside. We have no guarantee that it will lower the taxes again as soon as gas prices have returned to previous levels. It would be better if governments would do some belt tightening, even though they have little experience and zero appetite to give that option a try.

90L@1.34=120.60
90L@.849=76.41

Saving close to a 100 a month definately helps out

“Saving close to a 100 a month definately helps out”

How much has your RRSP or any other investment lost in the past month?

Just filled up today in Calgary, .749 cents a litre. Low gas prices, Chinook winds, life is good after a heart attack last week. I’m on the mend. Cheers to all my friends in PG, and Abby town.

Taxi

None I pulled them to buy a house a couple of years ago

The down payment

axman – Not everyone is experiencing losses. What did you invest in? Oil or Energy? Yup, you would be down.

Posted on Monday, January 12, 2015 @ 8:46 PM by BYOB

axman – Not everyone is experiencing losses. What did you invest in? Oil or Energy? Yup, you would be down.

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Well of course not everybody is losing but I’d be willing to bet that most funds contain energy stock of some kind and that most people who have invested either directly or indirectly are losing.

Don’t get me wrong, I love filling up for under a hundred bucks but I’m scared to look at my next RRSP summary when it gets here.

I have a gas pig truck so like the price drop. But the effects through out our economy will be huge. LNG? pretty tough economics. Western Canada has been the engine of Canadian GDP. That’s going to end. Real estate? good luck. Just wait for the inevitable layoffs, foreclosures, consumer defaults…it’s coming folks. No industry or region will not feel this. Prepare for the worst. I was born and raised in Alberta. Lived several of these. The fact this boom went as long as it did was a huge anomaly. There is an over leveraged generation that is about to be humbled.

A big part of the economy will benifit from lower oil prices. Those that have all their eggs in one basket, well. Some predict the present anomaly in price could last up to two years so don’t get too comfy with the low price.

Axman. Did the government drop the gas tax of $.34 litre? Governments are raking it in still. Take the $100 saving and invest it into something other than oil.

Maybe the government will have to stop wasting money! In 2003 oil was 25.00 a barrel and oil companies were still making money. Doesn’t bother me one tiny little bit that this lower price will slow or even stop tar sands production. Stocks go up and stocks go down that isn’t new.

Posted on Tuesday, January 13, 2015 @ 5:16 AM by happy13

Axman. Did the government drop the gas tax of $.34 litre? Governments are raking it in still. Take the $100 saving and invest it into something other than oil.

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Not sure why you’re asking me? I thought the BC tax rate was 21.17 cents per liter outside the Lower Mainland and Victoria.

The 100 bucks will still not cover the losses that the majority of people will incur. All those taxpayer funded pension plans will still be paying out and who do you think will fill in the shortfall?

It’s not just the gas tax. As I already said in another thread, those oil patch workers make big money. And pay big taxes on it. And then they spend the money. And pay sales taxes. If/when they start losing their jobs, the government will stop collecting all those taxes. And that’s just the personal taxes. There are also corporate taxes that stop being paid.
To give you something to think about: my oil patch worker, who is a mid-range earner up there, paid $60,000 in income taxes in 2014. Multiply that by thousands of guys, and you start to wonder how much you will save once the government is making YOU help making that up.
But enjoy the cheaper fill up. ;)