Gas prices.

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Maybe there can be a future for Venezuela, if they (those in charge) gather themselves together, sit down and think what an opportunity this can be for the country, if they play their cards right.
Ya, I like to daydream.
 
I still think any banning of Russian oil now is a bad move, but politically it is sort of feel-good. Better option is to get everyone else (or as many as we can, this is hard due to recent history) to play ball and drive production up and the price of oil down, then ban Russian oil.... This will hurt them more than any non world wide ban short term with less impact to the west, long term they are screwed...
 
backmarkerducati said:
There is some movement on the OPEC side regarding production but the Saudis are still a little mad at the US as the US (under Trump) sided with the Russians in the 2020 price war (threatened to pull troops out Saudi Arabia and to place tariffs/sanctions on the Saudis if they did not cut back production).

There is also movement in both Iran on the nuclear deal and in Venezuela to lift some sanctions, including the release of some US people held there. Some see this as trading one devil (Russia) for others but it offers an opportunity to make some diplomatic movement for these two and at the end of the day the world still revolves around less worse becomes sort of good--constantly moving scale.
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The USA, the bastion of free enterprise, with a finger on every scale in the planet.
 
mimico_polak said:
Just heard on 680 news that price is going up a few cents tonight, and then down 15c/L on Friday morning.
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Likely a ploy by oil companies to help condition us. As in, oh, the prices are $1.85!! Terrible… oh look, now they’re $1.70! That’s a deal!!!
 
Lash said:
Just drove through Fergus and the 87 gas was $1.86/l, diesel at $2.16, holy ****!
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Meanwhile, on my drive to work this morning, little old me is doing 100kph in the right hand lane watching a steady stream of huge pickup trucks and endless cars blasting along at 140.

People want to ***** and cry and moan about gas prices, but nobody wants to actually take any personal responsibility to actually try to save themselves some real coin by just slowing down.

backmarkerducati said:
There is some movement on the OPEC side regarding production
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This is inevitable. At $2/L or more all summer long, demand destruction will be a real thing. Road trips are already being questioned by almost every single person in every single camping/RV'ing group I'm a member of, and over coffee with a bunch of riding buddies last Sunday many of them are even contemplating scaling back some bigger trips they'd been planning this year. I know another guy who was supposed to go to Sturgis this year and is reconsidering because fuel cost may be the straw that breaks the camels back.

Demand destruction is real, and don't think OPEC doesn't worry about it. They will find a happy medium between padding their pockets while still moving lots of oil, and watching actual shipments decline (even if prices stay high, resulting in less net profit in the end) because people just decide to stay at home, or closer to home this summer.
 
I recall when we first got back from Chile - chased out by covid it was .67 a liter and I filled up for less than $10 in Ontario- was shocked. Had not seen that in decades.
Was nice to get here with the CB300F and seeing $10-11 fill ups again....now it's nudging $20.
I'm cutting back to shorter rides in the 1-150 km range - still gets me most of my fav spots for a fiver.
 
PrivatePilot said:
Meanwhile, on my drive to work this morning, little old me is doing 100kph in the right hand lane watching a steady stream of huge pickup trucks and endless cars blasting along at 140.

People want to ***** and cry and moan about gas prices, but nobody wants to actually take any personal responsibility to actually try to save themselves some real coin by just slowing down.



This is inevitable. At $2/L or more all summer long, demand destruction will be a real thing. Road trips are already being questioned by almost every single person in every single camping/RV'ing group I'm a member of, and over coffee with a bunch of riding buddies last Sunday many of them are even contemplating scaling back some bigger trips they'd been planning this year. I know another guy who was supposed to go to Sturgis this year and is reconsidering because fuel cost may be the straw that breaks the camels back.

Demand destruction is real, and don't think OPEC doesn't worry about it. They will find a happy medium between padding their pockets while still moving lots of oil, and watching actual shipments decline (even if prices stay high, resulting in less net profit in the end) because people just decide to stay at home, or closer to home this summer.
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Oil and gas prices are going up but food and accommodations are up as well. Throw them together and a tour is a lot more money. If a lot of people are travelling motel rooms may be scarce, especially the budget ones. Crowded venues etc.
 
Demand destruction can happen everywhere, including food, restaurants, etc. etc.

There will be a point where people will cut out all of the nonessentials if the prices climb too high. So the $50 Striploins just don’t sell in the grocery stores whittle down their orders. Restaurants stop seeing people come through the doors. Etc.

Eventually this all trickles down to points in the supply chain where (often significant) profit is sacrificed by the middlemen in order to keep moving supply vs grinding the chain to a halt, which often has other big consequences most people don’t think about.

The perpetual increases that many think will continue to happen simply can’t lest the demand for a lot of stuff simply disappears as a result. And manufacturers and suppliers don’t want that as the trickle down hurts.
 
Gary said:
Maybe there can be a future for Venezuela, if they (those in charge) gather themselves together, sit down and think what an opportunity this can be for the country, if they play their cards right.
Ya, I like to daydream.
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As weird as this will sound , we had our honeymoon in Venezuela ( many years ago) , and the oil economy was good , there was a love fest with Cuba , the Soviet and Chinese dollars propping up the commies all around. The place was stable , and a really sketchy place at the same time. Guards at the hotel carried actual weapons , not mall cops. Check points going into urban centers were common and the police made ' collection rounds" in bars at night shaking down tourists.
I'm not sure $300 a barrel could save that country now. It was a mess when things were good.
 
backmarkerducati said:
I still think any banning of Russian oil now is a bad move, but politically it is sort of feel-good. Better option is to get everyone else (or as many as we can, this is hard due to recent history) to play ball and drive production up and the price of oil down, then ban Russian oil.... This will hurt them more than any non world wide ban short term with less impact to the west, long term they are screwed...
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Banning Russian oil now is important because it cuts off the supply of cash. What you don't sell you can't bill and collect.

If we wait, it gives Russia time to figure out options and to pump the assets out to places where they can retrieve cash.
 
mimico_polak said:
The only times in recent years where I actually was able to pump fuel into my car/bike and then had to pay was out in the middle of nowhere where the pumps weren't updated to the 'pay first, pump after' model....that'll change very quickly in the near future.
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The few that don't have pay at the pump have buttons inside to arm one pump at a time. I don't think I've been to a canadian gas station in years where the pumps weren't individually controlled.
 
mimico_polak said:
The only times in recent years where I actually was able to pump fuel into my car/bike and then had to pay was out in the middle of nowhere where the pumps weren't updated to the 'pay first, pump after' model....that'll change very quickly in the near future.
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The inside row of pumps at the station I buy my gas at are all both prepay and pump 'n pay. You have to wait for the attendant to turn on the pump before you can pump 'n pay.
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