What are you paying for gas?

lilRicki wrote: »

midwesterner85 wrote: »

lilRicki wrote: »

midwesterner85 wrote: »

Kenda2427 wrote: »

cwolfman13 wrote: »

lilRicki wrote: »

$2.15/gallon...

I hope they don't drop much further...overall bad for the economy.

I'm in Alberta, Canada and I'm with you. As nice as it is to have cheap fill ups this is not good for the economy. I cringe as I watch the price of oil keeping dropping to records lows. As oil sands projects slow down, lay offs abound and that is not good for anyone. Hopefully this turns around soon.

While it may be that the drop in oil price is due to increased supply and that may be bad news for the oil industry (I feel bad for those oil tycoons *sarcasm*), it is good news for the economy as a whole. Consumers have more disposable income (the money we are no longer spending to fill our tanks) and can use that to purchase other goods/services... some of which may keep money locally or improve the economy in other ways.

except it's going to cost more to ship the goods in to the stores, people are losing jobs so they have to "go home" and live on EI, which is supported by the government, which is supported by oil and gas. This is the most ignorant post i've seen today. Think this through, you will be paying MORE for food than you do now, because it's not just going to fly onto the shelves. And most of the people from the coast, are working in Alberta, who do you think is going to get laid off first? those that drive home on their own dime every night, or those that get flown in and out by airplane? this devistates us all.

You are kidding, right?! Lower gas prices cause shipping costs to increase?!

With the tanking of the cost of oil, our dollar is tanking too. We are sitting at something like 82 cents on the US dollar, which is causing inflation all over the place. Thus causing the cost of goods and services, especially outside major cities, to increase. You think the cost of food is going to go down because we are getting cheaper gas? That just means the farmers won't be so dirt poor and the truck driver might get to stay at the Super 8 instead of in his trailer.

OK, I am guessing that you are Canadian, then. The exchange rate of $0.86 CAD per $1 USD and overall decline of the CAD compared to other currencies is going to drive higher costs for your imports, no doubt. On the flip side, it should also drive more exports, assuming your country can identify other goods/services that are desired by foreign countries.

There is the other side to consider regarding Canada's economic future and oil: The environment. Wilderness preservation can be a long-term benefit for Canada if it promotes responsible and sustainable use of that wilderness. Doing so could bring tourism money if done properly. Continuing to mine for oil is a short-term benefit for Canada, which ignores the long-term economic risks.