Inflation Beyond One Nation
by Rob Kirby
September 2, 2005

The effects of the damage done in the Gulf States are being felt beyond US borders. The price of refined product is on the rise elsewhere as well. The retail price of regular gasoline has spiked in price in Toronto, Canada by more than 40% in the past 5 days alone. The price at this [typical] gas station in suburban Toronto was .93 CAD per liter just this past Sunday. Now, you can see that the same liter of regular gasoline is selling for 134.9 per liter – for more than 45% increase in just 5 days - all in the face of a strengthening Canadian dollar too.

For those of you who may not be aware, Canada is basically self sufficient in crude oil and natural gas and possesses the ability to refine adequate amounts for all of its domestic needs – and has sustained no damage, whatsoever, in its energy infrastructure. Maybe it’s too early to suggest the seeds of a global hyper inflation have in fact been sown? Perhaps we should still just chalk all of this up to it being “conundrum season” – ehhh?

© 2005 Rob Kirby
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Rob Kirby
Kirby Analytics
Toronto, Ontario, Canada
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