Okay here we go. The gas crunch is coming. This
weekend in Kelowna British Columbia premium unleaded reached $1.39. 9 per litre I have said that it’s not going to be any
kind of recovery coming. If anything, we’re going to face a depression if the price of fuel
energy especially keeps climbing because people can’t absorb the high cost. This
wasn’t our purchase.Our Toyota takes About $50 right now of regular unleaded
to fill it up, if it’s empty. Somebody ahead of us paid $82.28 for sixty two liters of gas.
I’m sure everyone out there living in Canada or even in the
United States has their own horror stories about how much more they’re paying
suddenly, for the price of fuel. And what an impact it’s making on your wallet and on your disposable income. Now here’s the other factor
to consider. Just a couple of years ago governments in the United States & Canada
bailed out the auto industry. Because if you remember – let me refresh your memory. Executives from car industry flew into Washington
Each one board their own private jets Three different car companies. The big three – GM FORD and Chrysler each aboard private jets. They flew into Washington & said, “can you please
give us some money because our car companies are in a real bad state. Something went wrong. The economy collapsed.
We’re not be able to sell the cars. God those union workers are getting so much benefits
so much pay. We can’t make it any more. The simple fact of the matter is – First of all I love cars.
I love vehicles. I’ve been buying magazines- road&track, car&driver
motor trend, watching TV shows about vehicles – Europeans North Americans. I love automobiles.
And a long time ago it was predicted that the North American auto industry was going to collapse because they did not build
the vehicles people wanted. Simple as that. They had bean counters who were more interested
in generating profit off each individual vehicle, than building the right vehicle. One after another cars came out that were duds that were bombs – the Vega, the Pinto You can go down a whole list of cars. Remember when
GM put the diesel engine into cadillacs? Substituted Oldsmobile engines into Caddy’s?
Buicks into Chevs and all sorts of different things. Anything to make that bottom-line so they could
make money. When they made money they purchase plants abroad in the United Kingdom in Germany all
over they purchased plants. They invested into different companies outside the auto industry so
they diversified But it wasn’t the unionized workers that killed the
auto industry. It’s auto industries’ management. So 2 years ago they’re bailed out – no strings attached You’d think that they would have learned something
but of course if the government doesn’t tell them to do something different, car companies don’ t. They continued to build these big old gas guzzlers because there’s profit on it. Trucks don’t have
to meet the same admission requirements crash testing etc. etc. as cars so they could make them and jack the prices up.
Huge profits for them. And all is good. Let’s put big V-8’s into them.
Let’s put the Hemi’s, let’s put the duramax – whatever engine but keep them big
keep them thirsty because remember, if they’re thirsty oil companies like that and so does the government
because there’s a lot of tax on gasoline In Canada it’s more than $.40 on each litre of gasoline with varied
Provincial and Federal taxes. More than $.40. So they’re happy. But now, there’s an oil crutch and this was predictable.
I mean I’m not a rocket scientist if i could see that oil wasn’t going to stayed down in price This decade it’s going to continue to climb even
if it stabilizes now. I wouldn’t bet on it for next year or the year
after. It’s going to keep going up in price and God forbid if Kuwait or Saudi Arabia
or one of the other oil-rich countries has a revolution or a civil war erupt because We are going to see $200-$300 a barrel for oil So now here’s the car companies, and I’m talking about Chrysler and GM – they built all these big vehicles and
what happens next now Price of oil goes up – people can’t afford them –
They’re not going to be able to sell them. Their plants haven’t been retooled so guess
what they’re going to do again? Go to the government, go to the taxpayers and say
“Bail us out. Help us because we need help” I say if it comes down to that Let them sink. They had the opportunity. And if they didn’t take it. It’s not our fault and it’s
not our job to keep bailing them out At least that’s the way I see it. Thank you.