Canadian oil producers may get a better price for crude in the overseas markets because of the glut of oil in the North American market. That in turn could reshape the U.S. price market for retail gasoline, AAA said Monday.
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EDMONTON – It’s just peachy that ex-Suncor boss Rick George expects the big discounts on Alberta crude to narrow sharply by 2014.
But oil producers and provincial taxpayers shouldn’t count on that, according to Alberta Energy Minister Ken Hughes and Finance Minister Doug Horner.
“It is entirely possible that this will take a much longer cycle to work its way through. So I’m not thinking we’re facing (just) a couple of years of pressure on differentials,” says Hughes.
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The science of pricing is serious business.
In this Money Quick Tips we look at the science behind pricing and how the human mind responds to various price tags.
Here are some of the tricks of the trade and things to be mindful of whether you are a consumer buying or a businessperson selling.
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OPEC faces a triple dilemma over the short, medium and long term, none of which have good outcomes for the cartel. The short term is simple; prices are likely to correct into 2013 below price bands that are deemed economically and politically comfortable. That strikes on OPEC’s medium term problem; the geological cost of production is now structurally out of sync with the geopolitical cost of survival. When OPEC doesn’t get the petrodollars they need to appease restive populations, the default position will be tough political repression to tighten their grip on power. Whether that ‘works’ as an effective coping mechanism remains to be seen; political outages might well help to lift interim prices, but this merely highlights OPEC’s long term nadir. The higher prices go, the more demand will fall – and more importantly – non-OPEC production explodes beyond the cartel to drive down prices. Any way you look at it, OPEC’s triple dilemma doesn’t have any easy exits.
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EDMONTON – Realtors and their clients will still be able to access current local real estate sales data after a contentious pricing disclosure policy was voted down.
The board of the Realtors Association of Edmonton on Wednesday rescinded a new reporting policy, set to launch Dec. 1, that would have blocked public access to sales information for Multiple Listing Service properties until the deals closed, sometimes months after a purchase agreement is reached. No reason for the change was announced.
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