Enough on gas prices!

All I here is people talking about the cheap gasoline prices. They just don't get it, as they will be hurt financially, in the coming years. The drop in oil prices will devastate the Federal and Provincial economies. It is a domino effect starting with half the provincial royalties for oil, followed by large deficits, followed by reduced government services such as health care. If the oil price stays below $60 bbl, for several years, tens of thousands of highly paid workers will be unemployed. They have no possible way to replace their income, so the next domino will be EU payments, social assistance, mortgage defaults and of course way less personal income tax revenue.

So please stop talking about the price of a gallon of gasoline. First, gasoline is the cheapest cost to run your car. Insurance, maintenance and average car prices far exceed the value you are putting on the price of a gallon of gasoline. The big picture does not look good for everyone in Canada with sub $60 oil. If it stays for a few years, be prepared for a lower standard of living and much higher taxes!

Grant Ward