@lumina_ss
Oil prices are comming down due to slow economic growth... Saudi Arabia is doing nothing to bring the prices down... Why would Saudi Arabia want to bring prices down? Arab stock markets fell by as much as 30%... Saudi stock market fell almost 11% in one day!! and in some countries.. markets were shut to curb losses.
My opinion.. I think oil is going to come down to $50... It's already down to $77.70
we will still be paying same even if the oil prices go down world wide......
and how much are you guys paying? $1/gallon ($1 for 3.78 litres?
In european countries... people are paying almost $9/gallon...
Canada does not produce as much oil as Saudi Arabia... But Canada holds second largest oil reserves after KSA. 179 BBL. KSA has about 260 BBL... but with new technology.. Canada may have oil reserves 8 times larger than KSA.
On tv... they said... canadian oil reserves are huge enough to provide oil to the whole world for next 100 years...
But how much are we paying in Canada? $1.07/Litre. Canada exports 90% of its oil to USA.. and people in USA are paying less... I believe 98 cents/litre.
So you should be happy you guys are paying like 15 cents per litre...
If that was the case in Canada... Trust me.. I would buy the new Cadillac Sixteen... 13600 CC 16 Cylinder... and run it all day long!!!!!!!!