An “expert” is saying this morning that the high price for gasoline is being prompted by a low supply. Well that’s a new one! Until I read this particular article, everything else I’ve read has lead me to believe that we have one of the biggest reserves in the world. We also have one of the highest pump prices in the world for a country that produces oil. And the blame falls squarely on speculators.
In other words, we are paying for worry-warts who are guessing what might happen and putting their grubby hands in our wallets – just in case.
The revealing portion of this new analysis as pure bullshit is in the acknowledgement that last week’s steep drop in the price of crude wasn’t reflected at the pumps. A CIBC analyst says that’s because retailers expected the price to inch up again so they didn’t adjust their prices. Speculation.
A widely distributed email campaign this month encouraged drivers to avoid Petro-Canada and Esso for May, and send the message that we have the power. We have an independent retailer in the plaza next door and tend to fill up there, for convenience if nothing else, so we’re on board with the campaign. But is anybody else? The attitude that, “we’re helpless” is exactly what’s draining our bank accounts just to get to work and back each day.