Are Speculators to Blame for Oil Prices? Resources to Inform
*Updated July 26rd, 2008*
Here is a list of resources online that are in the midst of the discussion regarding the role of speculators in driving the price of oil sky high. Let us know if we've forgotten some important / useful articles. We'll be continually updating this post with new articles so check back frequently.
Correlation Between Speculators and Oil Prices
- Mike at About.com talks about the root causes.
- Why experts say gas is overpriced.
Hyperbolic Discounting Explained
Hyperbolic discounting refers to the preference people have to accept smaller payoffs sooner rather than larger payoffs in the future. This means that in terms of an individual saving for retirement, the individual is much more inclined typically to spend the money now rather than have a larger amount later to spend, say on retirement. This might create a problem later for the public in that people may spend excess amount in the current time rather than save enough for later.
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June 2008 Status of the Canadian Housing Market
Some articles collected from around Canada discussing the 're-alignment' of the housing market or the 'bubble bursting'. What are your thoughts? Interest rates have been kept the same this quarter so things can't be THAT bad. It appears in most major markets there is a cool and will continue to in this trend (less housing starts less purchases). This can be attributed mostly to the declining national economy (blame America). The trend should continue for at least 12 months in our opinion, unless you live in Alberta, downward trends won't occur unless there's downwards oil prices....
Articles on the Housing Market
Thaler’s Stylized Facts on Horsetrack Betting
Back to some behavioral economics. Thaler cites three stylized facts about horsetrack betting, they are as follows:
1. Most betters bring an amount of money that represents a small amount of their overall wealth. In terms of mental accounting, this money may represent the theory that money is non-fungible. Because they are not brining their whole wealth may be indicative of the portion of money associated with a specific label. For example, perhaps the money is thought of to carry utility in the form of entertainment. So instead of using this money to pay off debt, this money is strictly dedicated to entertainment, in this case betting.
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Starting to Drive Less? Save on Insurance
As the price of gasoline tops four dollars a gallon in the US and 1.4 a liter in Canada, consumers who are driving less could save an average of 5 to 15 percent on their automobile insurance rates if they just phone their insurers.
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Tips for Canadian Personal Finances this Summer
Well here we are in the midst of another Canadian Summer. What has transpired in the financial realm that is of relevance? Let's do a recap of what's important to your bottom line.
First off I hope that all of you have done your 2007 tax return, especially if you owe money. Remember that the penalties for overdue taxes are an immediate 5% on the unpaid balance and daily interest thereafter. Putting that task in the procrastination pile will not make the problem go away! Most of you know you can ask for my help, moral support or otherwise.
Bursting at the Seams - Alberta Economy
Oil Supply Fears Sparked by Morgan Stanley
Oil prices soared at the end of the week amidst a report from Morgan Stanley that in a month's time oil will reach 150/barrel. The question everyone is asking, who gave Morgan Stanley the big money to spark the fear for more oil?
The price of a barrel of oil surged almost $11 Friday, hitting a new record high of US$139.12 before settling at US$138.47.
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New Oil Messiah: AFS Trinity Power to Save America?
Hybrid Technology to Reduce US Oil Dependency?
Washington rejoice, hybrid technology will save you and America alike. Governor Chris Gregoire and other state and local officials are ringing praises for the new Messiah AFS Trinity Power from a cross country tour in which its XH-150 Plug-in Hybrid SUVs have been celebrated as the possible answer to record high fuel prices, U.S. oil dependence and motor vehicle greenhouse gas emissions,
Will Car Manufacturers Prevent Production?
What is the tax deductible mortgage plan?
Again the promoters want to take advantage people's dislike of taxes.
The premise behind the plan is the make the interest on a mortgage tax deductible, by putting one's mortgage into a self directed RRSP. Mortgage payments then become RRSP 'contributions'’.
However there are 2 catches.
How NOT to Save Money on Gas - Pragamatic Tips
We've all read the top 10 lists on how we can conserve our gasoline and drive a few extra stops before our tank runs empty. These stories are particularly popular given the consistent rising price at the pumps. But here's a question: how many of these 'gas saving tips' actually help reduce fuel consumption? With that in mind, here are the...
