A fuel pricing watchdog is warning of a grim future for oil and gas prices.<\/p>\n
Major global volatility means that prices at the pumps won\u2019t be going down anytime soon according to Dan McTeague, President of Canadians for Affordable Energy. <\/p>\n
Speaking on VOCM Open Line with guest host Darrin Bent, McTeague speculated on how U.S. politics plays a part in influencing oil and gas prices across the world, including in this province.<\/p>\n
\u201cThey\u2019re short-selling oil and gasoline. As much as prices have gone up, they could have been a lot higher. We could be talking two-forty, two-fifty, given the shortage that\u2019s in the world today and it\u2019s a real shortage\u2026and I think it\u2019s being led by the Trump Administrations Treasury Department.\u201d McTeague said \u201cThey\u2019re actually forcing down the price of oil because they know, politically, going to five dollars a gallon in the United States is going to be a wrecker.\u201d<\/p>\n
On the global stage, Canada has a lot to offer and a large role to play when it comes to diesel, and McTeague believes that will make all the difference for this province \u201cand Canada is pumping as much as it can, thank God they are because if it wasn\u2019t for us, the Americans would be damn short.\u201d McTeague said. \u201cThey can talk about being the suppliers of the world. They do supply a lot of gasoline. Why? Because their oil can produce gasoline, but it can\u2019t produce diesel. No diesel, no maritime fleet. No diesel, no jets. No diesel, no railway. No diesel, no military. No diesel, no mining, no agri- you get what I mean. Diesel is the global workhorse. Canada provides a lot of that.\u201d<\/p>\n
He also believes projects like Bay du Nord could strengthen Canada\u2019s economy in the long-term. For the foreseeable future, however, people in this province can expect higher prices across the board.<\/p>\n","protected":false},"excerpt":{"rendered":"A fuel pricing watchdog is warning of a grim future for oil and gas prices. Major global volatility…\n","protected":false},"author":2,"featured_media":611209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,269876,185074,269873,269875,269877,269874,269870,269871,269872],"class_list":["post-798868","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-listen-to-vocm","tag-news-radio","tag-news-radio-st-johns","tag-st-johns-fm-radio","tag-st-johns-local-radio","tag-st-johns-radio-station","tag-vocm","tag-vocm-590","tag-vocm-radio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/798868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=798868"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/798868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/611209"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=798868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=798868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=798868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}