I read some shocking news last night before I went to bed. There is a gas shortage in western Canada, yes there is a lack of gas in Western Canada. Imperial Oil has a refinery near Edmonton that has been taken off line. So the amount of fuel that they are producing has been reduced and they have started rationing their products, they are going to provide to communities where they are the only providers for first then the rest of us.
If western Canada is running out of oil this is not a good sign, that is where there should be a net exports of oil not imports. It may be just one company that does not have enough gas, but it will have implications through out the industry. There are also estimates that the price of gas will get as high as 1.40 this summer, before this issue became known. So we are running out of gas, does that mean that we have reached the peak oil, and the prices will just continue to increase. Or is it just a series of unfortunate events. With the increase in the price of gas, many things will become more expensive. All items will have a price increase, from food to products from China.
