Why The Iran War Is Raising Gas Prices
Episode Stats
Words per minute
180.23946
Harmful content
Toxicity
1
sentences flagged
Hate speech
1
sentences flagged
Summary
The price of gas in Canada is skyrocketing, pushing some people past the point of bankruptcy. Gas prices have been on the rise since the recent war in the Middle East between the US and Iran. Gas is used to move everything around, and a lot of products are made from oil. So when the price of oil goes up, everything else goes up. Remember, when prices go up, so does the cost of everything else.
Transcript
00:00:00.160
Canadians are in trouble as the price of gas skyrockets, pushing some people past the point
00:00:05.340
of bankruptcy. Canada is already in a cost of living crisis. We have high rent prices,
00:00:10.420
high grocery prices, high insurance costs, high costs for entertainment, and now add to that
00:00:16.360
an increased cost in gas. This is going to push people right off the edge. Remember,
00:00:21.480
when the price of oil goes up, everything else goes up. Gas is used to move everything around,
00:00:26.840
and a lot of products are made from oil now this recent gas spike was caused by the recent war in
00:00:32.080
iran by israel and america what happened was america and israel started bombing iran
00:00:36.980
iran retaliated by bombing oil refineries in the middle east and also they closed the important
00:00:42.640
strait of hermuz in the latest uae has shut its ruve's oil refinery after drone attack on the
00:00:48.980
industrial complex housing the facility this is the latest refinery to join the list of oil
00:00:54.560
facilities disrupted since the war began. Multiple oil facilities spread across West
00:00:59.620
Asia have halted production so far. Well, these include Saudi Arabia's Ras Tundra, UAE's
00:01:06.480
Fujairah oil terminal, Israel's Leviathan gas field, Babco refinery in Bahrain, oil
00:01:15.060
refineries and oil storage facilities in Tehran and Qatar's Ras Lifan terminal. Well, on
00:01:21.440
top of this, Iran has choked straight of foremost a critical oil supply route that allows flow of
00:01:26.680
20% of global oil trade. While CEO of Saudi oil giant Aramco has issued a warning, he said war
00:01:33.620
could have catastrophic consequences on oil markets. Many if not all of the countries in the
00:01:38.860
area have either limited their oil production or completely stopped it. Now some people have asked
00:01:43.340
why do oil disruptions in the Middle East affect prices in Canada? Well, it's a supply and demand
00:01:49.280
issue. 20% of the world's oil moves through this trade of Hormuz and on top of that with all these
00:01:54.780
oil refiners being shut down there's less available oil on the world market. So less oil and the same
00:02:01.140
demand equals higher prices. Remember food bank usage in Canada is at an all-time high and this
00:02:08.140
extra increase to gas prices is going to make everything worse and push a lot of people right
00:02:13.240
off the edge. Needless to say we're in a lot of trouble so let's see how Canadians are reacting
00:02:18.080
to this. This is a clip from the Brandon Gones show. Not good. They're very high. What's going
00:02:23.640
on over in the Middle East is not good, but it's not good for the economy either. For my mom,
00:02:28.900
she has to pay for a lot of stuff. I really like groceries for the house when I was cool. And I
00:02:33.420
have to also think about paying for your gas. It's like not really convenient all the time.
00:02:37.940
I kind of want to go back to pre-COVID days when gas was a lot cheaper. Right now at $2 a liter
00:02:43.060
just to fill for diesel is a little ridiculous. I'm sure everybody else in the city feels for it.
00:02:59.600
It's really just strictly work, fill gas, go home.
00:03:03.120
Like there's not really much time or money for leisure or anything fun now.
00:03:08.340
So gas as well is just adding another frustration to your day.
00:03:12.180
Are you hopeful that the gas prices will go down?
00:03:15.700
hopefully it does go down nobody wants to be paying that much every week for gas yeah i like
00:03:21.200
to be a glass half full type of guy so being optimistic that prices will go down it's really
00:03:25.880
sad how one man who was given everything by his father can make a decision that negatively affects
00:03:31.600
people all over the world including canada americans voted for a president that would put
00:03:36.100
america first instead he started another pointless war in the middle east and now we're all paying
0.79
00:03:42.220
for it. I'll have more to say on that later, but let's check out another video from Toronto Live.
00:04:12.220
premium in these cars it's kind of like expensive i hope that was a full tank by now i try not to
00:04:18.440
drive that much because i work in downtown but definitely gas prices impact everybody's budget
00:04:23.840
at this time so um yeah i try to take ttc as much as i can for now 76 dollars that's the cost
00:04:31.000
it's about 63 i only fill my car about once a week so still a little bit of money right
00:04:37.960
and things are tight as it is because i'm a pensioner so as you saw right there canadians
00:04:42.880
normal people like you and me are already feeling the price of the pump and it's going to get a lot
00:04:48.060
worse now of course things would be better if we spent the last 10 years drilling for more oil in
00:04:52.800
canada and canada actually took the steps to refine their own oil but nobody could have predicted this
00:04:59.260
nobody could have predicted don trump getting re-elected and then going to another war with
00:05:04.120
the middle east after all he said that he wasn't going to start any more wars and then we see he
00:05:10.280
started another war now there's a lot of people that wrongly believe that iran was going to get
00:05:14.400
a nuclear weapon and use it on america however there's no evidence to back that up donald trump's
00:05:20.580
press secretary even admitted today that iran was not a threat to the united states now i've seen
00:05:26.160
some people say they don't mind paying more for gas if it leads to regime change in iran however
00:05:31.480
recent reports suggest that the war in Iran is unlikely to lead to regime change.
00:05:36.660
On top of that, Donald Trump was elected to put America first, and I'm not sure how bombing a
00:05:42.120
Middle East country is putting America first. On top of that, how does a war in Iran help the
00:05:47.700
people in Canada that are struggling to get by? It was a rhetorical question. I know the answer,
00:05:53.640
and it doesn't. It seems like Donald Trump started another pointless illegal war in the Middle East
00:05:57.860
to distract away from the fact that he was best friends with a known pedophile
0.97
00:06:04.540
Hopefully Americans get the message and vote accordingly in the midterms.