flatlanded
Veteran Member
Gee whiz, I was under the mistaken impression that prices were simply the result of rampant greed by the oil companies. I'm always impressed by how EVERY SINGLE oil supply 'crisis' results in new record profits for the oil companies. It a nice business when interruptions and cost increases in your supply, even imaginary ones, actually increase your profit rather than decrease it.
I'm not saying it's fair but when they think they might lose a buck, they'll jack up the prices to stop it from happening. There's never a fear of making a buck, just losing one.
To above posts:
Most refineries (atleast the ones in Western Canada) have their turnaround in spring (April-May) so they are indeed shut down. Also, two provinces worth of farmers @ <1% seeded does create a surplus. Maybe not globally, but definately locally.
I know of a local refinery that was certain they would run out of RUG but not Diesel before they had it back up and running. Shut down is almost over and I haven't heard what the levels are.