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Bank of Canada says oil imports to blame for rising gas prices

680 News All news radio -- he Central Bank says Canadians are getting the short of the stick when it comes to oil and gas prices but speculators and oil companies are not to blame.

High oil prices usually benefits the country because it exports more than it imports, but the Bank of Canada says the origin of the commodity plays a big role in the price of gas.

Since January, Canada has been importing pricey Brent crude from the North Sea, while exporting cheaper oil from Alberta.

The bank says the increase in the price of oil imports raises production costs for Canadian firms and puts upward pressure on gas prices.

About half of the gasoline purchased in Canada is produced using refined petroluem priced off Brent crude.

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Submitted Apr 19, 2012 By: momsno1_taxi

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Apr 22, 2012 5:31:08 AM Ignore honda0105 Report Abuse of course, it makes little sense that Canada would EXport its oil (aside from it being heavy tar SAND oil aka bitumen) and IMport heavy North Sea / Brent oil. I could see the use of getting light sweet. But this makes really not much sense.
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Apr 22, 2012 5:17:47 AM Ignore honda0105 Report Abuse Canucktree: Canada imports crude, not distillate.
Canucktree Champion Author Alberta Posts:5,023 Points:1,046,915 Joined:Dec 2008	Message Posted: Apr 20, 2012 9:42:44 AM Ignore Canucktree Report Abuse Open closed refineries, and we would buy more at a lower price.
A2J Champion Author Richmond Posts:3,205 Points:628,700 Joined:Aug 2011	Message Posted: Apr 20, 2012 8:28:48 AM Ignore A2J Report Abuse so
jrs4125 Champion Author Indiana Posts:2,893 Points:618,470 Joined:Sep 2011	Message Posted: Apr 20, 2012 6:26:30 AM Ignore jrs4125 Report Abuse But speculators and oil companies are not to blame. ( insert more sarcasm)
SparkieMi Champion Author Kalamazoo Posts:3,397 Points:615,110 Joined:Sep 2011	Message Posted: Apr 19, 2012 9:16:55 PM Ignore SparkieMi Report Abuse Bank of Canada is basing this on WHAT?????
jkpsr Champion Author New Jersey Posts:4,207 Points:1,127,915 Joined:Jun 2005	Message Posted: Apr 19, 2012 9:15:38 PM Ignore jkpsr Report Abuse Canada has the same problem as the East Coast of the US, no cheap way to move the oil easterly.
JamesCalvin Champion Author Lancaster Posts:3,339 Points:546,280 Joined:Nov 2011	Message Posted: Apr 19, 2012 9:14:47 PM Ignore JamesCalvin Report Abuse Really?? Exports should cause prices to drop then!
abacus44 Champion Author Toms River Posts:3,600 Points:773,790 Joined:Jan 2011	Message Posted: Apr 19, 2012 9:13:12 PM Ignore abacus44 Report Abuse OK
bikechuck Champion Author Indianapolis Posts:7,148 Points:2,089,845 Joined:Apr 2006	Message Posted: Apr 19, 2012 9:12:57 PM Ignore bikechuck Report Abuse Some are cashing in and we all are paying for it.
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,093,950 Joined:Mar 2004	Message Posted: Apr 19, 2012 9:09:39 PM Ignore miser709 Report Abuse "Bank of Canada says oil imports to blame for rising gas prices" Huh. And all this time I thought it was Obamas fault.
HEBster Champion Author Kentucky Posts:8,922 Points:2,400,630 Joined:May 2006	Message Posted: Apr 19, 2012 9:09:39 PM Ignore HEBster Report Abuse Yup!
nomad228 Champion Author Columbus Posts:3,143 Points:580,215 Joined:Feb 2011	Message Posted: Apr 19, 2012 9:09:05 PM Ignore nomad228 Report Abuse now i just done heard about everything. : ) have you ever heard of a rubber band,Did you ever see an elephant fly Well I seen a horse fly I seen a dragon fly I seen a house fly I seen all that too I seen a peanut stand And heard a rubber band I seen a needle that winked its eye But I've been, done, seen about everything When I see a elephant fly What'd you say boy I said when I see a elephant fly I seen a front porch swing Heard a diamond ring I seen a polka dot railroad tie But I've been, done, seen about everything When I see a elephant fly I saw a clothes horse and he rear up and buck And they tell me that a man made a vegetable truck I didn't see that, I only heard Just to be sociable I'll take your word I heard a fireside chat I saw a baseball bat And I just laughed till I thought I'd die But I've been, done, seen about everything When I see a elephant fly But I've been, done, seen about everything When I see a elephant fly When I see an elephant fly
marlita Champion Author Dayton Posts:3,320 Points:787,240 Joined:Mar 2010	Message Posted: Apr 19, 2012 9:09:01 PM Ignore marlita Report Abuse Everyone will blame each other nobody will say they are the ones that raised gas prices.
NHLiveFree Champion Author New Hampshire Posts:11,294 Points:1,649,905 Joined:Jun 2008	Message Posted: Apr 19, 2012 9:06:46 PM Ignore NHLiveFree Report Abuse When are all Canadians going to Wake Up and stop this nonsense? Domestic energy sources should be utilized in Canada first. Isn't it time to demand that PM Harper plan a pipeline from Alberta to Quebec and the Maritimes first???
Toppers Champion Author Atlanta Posts:9,147 Points:2,497,420 Joined:Mar 2005	Message Posted: Apr 19, 2012 9:06:44 PM Ignore Toppers Report Abuse Doesn't sound right...
TheSicilian Champion Author Jacksonville Posts:5,514 Points:1,496,475 Joined:Feb 2009	Message Posted: Apr 19, 2012 9:06:23 PM Ignore TheSicilian Report Abuse buy high sell low?
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Apr 19, 2012 9:04:18 PM Ignore HKL Report Abuse OK
tampacrvdriver Champion Author Tampa Posts:3,465 Points:738,765 Joined:May 2011	Message Posted: Apr 19, 2012 9:03:17 PM Ignore tampacrvdriver Report Abuse I'm not sure about this.
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Apr 19, 2012 9:03:11 PM Ignore HKL Report Abuse K
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Apr 19, 2012 9:03:04 PM Ignore tippybuddy Report Abuse speculators are the causing of rising prices for the most part.
jem069 Champion Author Detroit Posts:2,679 Points:714,780 Joined:Jan 2011	Message Posted: Apr 19, 2012 9:01:27 PM Ignore jem069 Report Abuse ok
mcmonsta Champion Author Honolulu Posts:3,342 Points:844,495 Joined:Sep 2009	Message Posted: Apr 19, 2012 9:00:35 PM Ignore mcmonsta Report Abuse he who pays can play or in this case get to where they want to play
Beaveronparade Champion Author Hartford Posts:2,164 Points:660,255 Joined:Mar 2011	Message Posted: Apr 19, 2012 9:00:20 PM Ignore Beaveronparade Report Abuse I agree! If we were independent it wouldn't matter.
SparkieMi Champion Author Kalamazoo Posts:3,397 Points:615,110 Joined:Sep 2011	Message Posted: Apr 19, 2012 8:59:55 PM Ignore SparkieMi Report Abuse pgerass has a very good point!!!!!
Aviator_Rob Champion Author New York Posts:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Apr 19, 2012 8:58:39 PM Ignore Aviator_Rob Report Abuse C'mon RAE344, what do environmentalists have to do with any of this? If you're so keen on refineries, why don't we petition to have one built in your backyard?
DustyHorse Champion Author Virginia Posts:6,222 Points:1,417,740 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:56:15 PM Ignore DustyHorse Report Abuse That seems odd.
Aviator_Rob Champion Author New York Posts:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Apr 19, 2012 8:56:08 PM Ignore Aviator_Rob Report Abuse Hey carman11, you know why the Republican mascot is the elephant? No other animal produces more dung.
gilfarm Champion Author Alabama Posts:6,931 Points:1,975,565 Joined:Sep 2005	Message Posted: Apr 19, 2012 8:54:36 PM Ignore gilfarm Report Abuse Wonder why?
pgerassi Champion Author Milwaukee Posts:11,036 Points:2,159,245 Joined:Apr 2007	Message Posted: Apr 19, 2012 8:54:20 PM Ignore pgerassi Report Abuse Speculators are to blame especially those issuing CIFs. Any other interpretation is smoke and mirrors to hide the real truth.
naiiawah Champion Author Boise Posts:2,525 Points:716,700 Joined:Mar 2011	Message Posted: Apr 19, 2012 8:54:12 PM Ignore naiiawah Report Abuse Instead of trying to build Keystone, maybe Canada should be refining that Oil and keeping it there?!?
Aviator_Rob Champion Author New York Posts:3,985 Points:440,290 Joined:Mar 2012	Message Posted: Apr 19, 2012 8:53:28 PM Ignore Aviator_Rob Report Abuse hagar2935 says, "So why don't we do something about this?" Do something about what? High Canadian gas prices? Sure, let's stop importing Canadian Tar Sands crude. Let them refine the stuff into gasoline for themselves. Oh wait, Big Oil doesn't want to do that because they won't make big profits.
DEG Champion Author Las Vegas Posts:17,745 Points:3,519,480 Joined:Jul 2003	Message Posted: Apr 19, 2012 8:51:03 PM Ignore DEG Report Abuse Sounds like the Canadians should be refining their own crude.
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 19, 2012 8:50:16 PM Ignore themaninthehat Report Abuse @hagar2935 is haggared Stop the hating Reelect the President OBAMA 2012
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Apr 19, 2012 8:49:58 PM Ignore jessek Report Abuse Of course.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Apr 19, 2012 8:49:34 PM Ignore abcdMA Report Abuse always a reason---
flyfast Champion Author Kansas City Posts:9,386 Points:1,852,720 Joined:Jan 2008	Message Posted: Apr 19, 2012 8:46:48 PM Ignore flyfast Report Abuse but they help
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Apr 19, 2012 8:41:39 PM Ignore hagar2935 Report Abuse So why don't we do something about this????????????? NOBAMA 2012!!!!!!!!!!!!!!!!!
LaVonneK Champion Author Iowa Posts:3,078 Points:653,250 Joined:Jul 2011	Message Posted: Apr 19, 2012 8:36:49 PM Ignore LaVonneK Report Abuse Oh.
skybiker Champion Author South Carolina Posts:7,403 Points:1,585,640 Joined:Jul 2008	Message Posted: Apr 19, 2012 8:33:54 PM Ignore skybiker Report Abuse let's start drilling!!!...
CorvairHaven Champion Author Cleveland Posts:4,470 Points:1,479,765 Joined:Sep 2008	Message Posted: Apr 19, 2012 8:30:16 PM Ignore CorvairHaven Report Abuse Honesty and integrity are rare these days.
Dodge_Me Champion Author Atlanta Posts:2,214 Points:575,730 Joined:Mar 2006	Message Posted: Apr 19, 2012 8:26:59 PM Ignore Dodge_Me Report Abuse Hmm
kusanagisama All-Star Author Texas Posts:708 Points:191,725 Joined:Feb 2011	Message Posted: Apr 19, 2012 8:22:22 PM Ignore kusanagisama Report Abuse Ok.
carman11 Champion Author North Carolina Posts:3,480 Points:719,425 Joined:Jun 2011	Message Posted: Apr 19, 2012 8:21:37 PM Ignore carman11 Report Abuse THE OLD BLAME GAME IS GOING STRONG. IF IT LOOKS LIKE A RAT MORE THAN LIKELY IT IS A RAT. A DEMOC RAT.
SparkieMi Champion Author Kalamazoo Posts:3,397 Points:615,110 Joined:Sep 2011	Message Posted: Apr 19, 2012 8:18:21 PM Ignore SparkieMi Report Abuse Great question by serrog!!!!! Good luck in getting an HONEST ANSWER!!!!
serrog Champion Author Nova Scotia Posts:5,705 Points:1,539,830 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:14:05 PM Ignore serrog Report Abuse Why don't we keep our own oil and have stability.
ratones1 Champion Author Los Angeles Posts:2,987 Points:756,005 Joined:Mar 2011	Message Posted: Apr 19, 2012 8:13:20 PM Ignore ratones1 Report Abuse interesting...
kenji554 Champion Author Charlotte Posts:1,217 Points:533,070 Joined:Jun 2011	Message Posted: Apr 19, 2012 8:09:02 PM Ignore kenji554 Report Abuse Ok
altima2008 Champion Author Philadelphia Posts:8,300 Points:1,764,715 Joined:Apr 2008	Message Posted: Apr 19, 2012 8:05:58 PM Ignore altima2008 Report Abuse jdisno1 good one
vroomputtputt Veteran Author Oregon Posts:275 Points:62,785 Joined:Mar 2012	Message Posted: Apr 19, 2012 8:04:22 PM Ignore vroomputtputt Report Abuse what