Pin It
Favourite

Wednesday, May 21, 2008

The fudge factor

Oil and the Halifax city budget

Posted By on Wed, May 21, 2008 at 2:41 PM

All hell is breaking lose in the commodity markets today, and oil, which started off at $128/barrel this morning, quickly soared past $129, then $130, $131 and now $132. At 3:30pm it's at $132.50, and there's still two-and-a-half of trading left. Some economists are saying it will reach $150 in a matter of weeks.

And the just-passed city budget assumes gasoline and fuel prices reflecting $100 oil.

Alas, there's no way to track how much the increase is costing the city, because for all the line-items and to-the-dollar details filling up the budget book, the fact of the matter is that city hall bureaucrats can twist and juggle the numbers pretty much as they please. They'll be able to fudge their way through for a while, and soon there'll be directives to staff to cut down on driving and such. Still, eventually the shit will hit the fan.

It'll be interesting to see when and how all this breaks. It's odd, though, that no other media outlet is even talking about the looming municipal fiscal crisis.

.SpecialPlacement>Home

Survey Asks

Who are we grateful for in Halifax right now?

  • Neighbours with chainsaws
  • Meteorologists
  • First responders
  • Red cross staff
  • NS power employees
  • All of the above

View Results

Comments

Subscribe to this thread:

Add a comment

Remember, it's entirely possible to disagree without spiralling into a thread of negativity and personal attacks. We have the right to remove (and you have the right to report) any comments that go against our policy.

Coast Top Ten

Reality Bites

More »

Shoptalk

    House of Eights levels up

    SHOPTALK »

    House of Eights levels up

    posted by BRANDON YOUNG, Aug 28/19

    Abady Alzahrani’s dance studio welcomes dancers of all levels to “shut everything out and have fun” with its new location. comments      0


More »

In Print This Week

Vol 27, No 16
September 12, 2019

Cover Gallery »


Real Time Web Analytics

© 2019 Coast Publishing Ltd.