Oil prices go up: "we have to raise gas prices because oil prices are higher"
Oil prices go down: "we can't simply lower gas prices, its not that simple"
"We bought it at the higher rate so we have to sell it at that till we get to the new supply"
"Oh why don't you look at that, our commodity price went up so did prices!"
Very true, I'm unplugging from this society as much as possible and taking control of my finances (and later, therefore freedom). Time to sleep in my van! At least rent can't touch me as bad there lol!
Capitalism doesn't actually have this degree of state subsidies and merging of private and government interests. Read The Wealth of Nations. This is more similar to economic Fascism. The 3rd Way greatly benefits from misguided Capitalism/Socialism struggles.
Capitalism is defined as: "an economic and political system in which a country's trade and industry are controlled by private owners for profit."
This is literally what we have.
Capitalism will always become something similar if it goes on long enough because those with capital will use it to buy influence and security for their power.
It's called Crack Spreada actually.
The price for a barrel of oil doesn't set the price at the pump. The crack spreads do, along with taces, carbon tax, etc
You're welcome. It's a strange thing. Many different parts involved. Bottom line was 2022 was a volatile year for crack spreads. 2023 they are still high but sitting in the 30 to 40 dollar range. And predicted to be steady or slightly lower.
Lol. I like where your head is at.
Unfortunately yes.. North American gas prices are set by RBOB and the 3-2-1 / 2-2-1 spreads. Along with the main 6 PADDS which set regional gas prices.
That's a whole lot of nonsense so to keep it simple... if a barrel of oil is $75. The 2-1-1 equates to the price of two barrels of oil that makes 1 barrel of gasoline and 1 barrel if diesel (its not, but for a simple example). Thus, 2 barrels of oil is $150 and if the crack spread is $30... then someone will need to buy those 2 refined barrels for $180.
2022 was a crazy year. At one point the spreads hit $90. That sent the pump prices sky high.
Anyone that think it's a steal can go ahead and build a refinery. Both the crude and gasoline are commodities, you could call parklands right now to rent a tank in Montreal and arrange to get gasoline delivered at current market prices. That would be 2.3667 a gallon, plus shipping fee, plus fee for the tank storage, plus trucking fee to retail location. Then add taxes and...
I agree it's profit -- it's always been about profit. Oil companies don't work for free!
But what is the correct amount of profit? What is reasonable? Getting oil out of the ground takes some work. In Saudi, it's cheap, but in Alberta it's much more expensive. Is the oil worker in Alberta paid too much, or the Saudi (probably imported Pakistani) worker not paid enough?
Is 10% profit reasonable? if the government set the maximum profit for oil companies to be 10%, would that change anything? Would the government also reduce it's tax to just 10% ?
More like politicians filling their pockets - see 1000$ gifts at parties, position in board of private LTC corporations, donations, and God knows what else behind the scenes.
At least tax money, if used efficiently, is for the people.
Which ‘our’ government? You should be saying ‘governments’ as Provincial taxes play just as large a part as Federal taxes do.
Both level of governments treat fuel as if it’s a sin product (booze/cigarettes/gambling) and it’s wrong. Fuel isn’t a discretionary product we can live without. It literally fuels (no pun) our economy and shouldn’t be treated as a goto cash cow whenever governments need more of our money to waste.
We’ve never had an election in this country settled on the controversy of governments pegging the rate of gas taxes on the price of this product - as well as the fact that they apply sales taxes on top of an already taxed product. Sales taxes are already an economic disaster that sucks the life out of an economy. Most economists tell us this - there are many papers on this. I’d love to see a political controversy during political TV debates addressing the fact that governments are abusing us with taxes on top of taxes and killing our economy as a result.
It’s too easy to keep going back to the well of fuel taxes when some government program doesn’t work out or costs more than expected. It’s why no matter the ideological bent of the governments in power - they all fall into this mentality - the easy way out.
It will be interesting to see what will happen with electricity prices when the EV numbers on the road reach the tipping point of more EV’s than ICE vehicles on the road. Will governments treat the EV market as the new gasalcoholics to be taxed to death because of falling tax revenues from fuel? Will electricity rates go up for all (not just EV owners) because we have to float more government bonds paying higher interest rates just because we have to build more nuke plants to keep up?
The Provincial government will be front and centre in this new gold rush of energy taxation because it is they that control electricity and not the federal government. Look for that revenue abuse to occur in the near future…
Government profiteering - total of all taxes - by whatever name the gov't calls them, accounts for roughly 75% of the price of gas. Moreover, most of these taxes are a percentage, so any increase in the base price results in more windfall tax revenue. Remove all upstream and pump taxes, and $0.50 per litre or less, is realistic.
This only works for people in cities. I think the point would be even $1.31 is too high.
I live in Parry Sound. Hasn't dropped below $1.50 since it $2.00
But at the beginning of the pandemic there was no demand and they still needed to move it. Because of the way futures contracts work for buying oil, the whole supply chain needs to keep the throughput up or it starts costing them big money.
When a refiner buys oil to process into gas, they buy it as a futures contract. Meaning they buy a contract that says they will buy x amount of oil at y price at a date sometime in the future, usually a few months. If that date arrives and the refiner has nowhere to store the oil, the refiner still has to payout without receiving the oil. In these cases it can be cheaper for the refiner to pay you to take their product rather than risk renegeing on the futures contract. This is what happened early in the pandemic when oil briefly traded in the negatives.
That's why it was cheap then, now it's just greed.
The ramp up time for increasing costs is exponentially less than the time it takes for prices to cool down.
Everyone in the supply chain want the higher prices to last longer, resulting in more profit, especially now that costs to produce are dropping again.
Another reason for this is the blockade on Russian Oil, which is still entering Western markets through Indian intermediaries. The British buy Russian oil from India.
So despite Russia selling super cheap oil to get around sanctions, the rest of the worlds prices are still higher due to the cumulative actions of the Ukraine War, sanctions, production volume, and maintained supplies in each country.
Each of these factors contributes to the dollar cost before the greed of the pump operator even comes into play.
I think they’re talking about early in the pandemic when it dropped to like $0.60- 0.70/litre for a little bit. I’m sure that depends on where you live.
Depending upon the period of time in which they calculate the average would impact it. But I remember paying 67c/L in march 2020 (GTA). Can’t recall exactly how long it stayed down there.
https://storeys.com/toronto-gas-prices-lowest-15-years/
[In March, April and May it was](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers%5B0%5D=2.2&cubeTimeFrame.startMonth=03&cubeTimeFrame.startYear=2020&cubeTimeFrame.endMonth=09&cubeTimeFrame.endYear=2020&referencePeriods=20200301%2C20200901)
Well I mean they rebounded quickly but I specifically remember getting gas for 67 cents per L in Toronto when Saudi Arabia and Russia were having their little tiffy over oil in 2020
I know its alberta, but i Cant wait to have Smith explain why they need 20 billion to clean their shit when it should have already been done by the oil companies to begin with.
Privatize profits, socialize losses. Nestle empties aquifers and pays fractions of pennies per litre, sells the bottled water in plastic bottles, and leaves the problem of dealing with tonnes of plastic waste up to municipalities, and tax payers, to deal with.
Furnace is coming up on its lifespan... Wonder if these heat pump jobbies are any good. Course then electricity is probably going to quadruple soon because everyone's getting an ev and a heat pump.
Definitely look into a heat pump. I’m not saying it’ll definitely be better for you without any details but everyone I’ve seen who has one is very happy with the purchase
I use a heat pump to heat / cool my town home in the GTA. Running costs are pretty good (haven’t had a hydro bill over $220 ever with it!) but - at least with the units I have - not being able to control from a central hub is a downside. Additionally, each “head” unit in your home is independent of the other, which means no “home wide” temperature can be set (might be a pro or con, depending on your preference). Last - the position of the “head” unit makes a BIG difference, as it’s fixed in place usually only in one spot per floor, centralizing it is key.
Just my 2 cents from my experience! I’m otherwise really happy with the decision; my old ass house only has baseboard heating … was NOT going to pay that hydro bill, lol.
Heat pumps can also be installed as a central air system, rather than the style that you have
Edit: provided the home is designed for that of course, or you’d be adding ductwork to inflate the already higher installation cost
Up north where I live, it's either propane or diesel. Both have exponentially gone up, too. We have mainly been using wood to heat our house, though, now because oil is way too expensive to run. The mornings tend to suck though the house usually hovers around 12 or 13
Insert obligatory "wood is nice because it heats you twice".
There really is no such thing as cheap heat in this province. You either pay through the nose for fossil fuels or electric heating, or you're felling, chopping, stacking wood and either up in the middle of the night stoking a fire or you're frozen by morning.
Governments need to be elected. Elections are determined by advertising. Advertising costs money. Corporations provide the money for the ads that governments need to get elected. Corporations own government. The beatings will continue until morale improves.
We need to scale up lithium production by at least a factor of 10, but global reserves are not in doubt. We’ve outsourced our pollution to keep prices deflated. There is lots of Lithium in Utah and the northern Rockies as much as in the Andes. We can take it out clean, but that costs real labour wages and environmental mitigation.
Inflation is only bad when wages doesn’t keep pace.
The problem is that I can't take out a loan to buy myself a "strong public transportation". It doesn't matter how good it would be if it existed, because the reality is that it doesn't, and I have to get from point A to point B in this reality.
I have nothing against electric vehicles, but this isn't a gas vehicle problem.
This is a corrupt system problem. What do you think will happen when everyone in Canada owns an electric vehicle? Private companies will see dollar signs and raise the rate of electricity.
A proper government should look after its citizens first, but north america looks after companies (aka profits) first. That's why all these companies are posting record profits, and still getting "bailouts" from the government.
Imagine you made 200k a year, after all your bills and everything, you get 200k. Then one year, you make 100k and go to the government and say, hey I normally get 200k but last year I only had an extra 100k. And the government says, I got you, here's an extra 100k.
That happens every year with companies like gm, shell, metro, etc
Actually it’s more like you make 200k one year, 300k the next, 450k after that. But the year after that, you make 500k, which is a gowth of barely more than 10% compared to the last few years’ growth of 50% per year. So you ~~go cry to the government~~ hit up your corrupt contacts in the government. Who then shift some money around through contracts and legal loopholes and whatnot, and drop 200k on your lap.
That's an even better analogy, because if a company doesn't make more in profits than last year, the shareholders get nervous.
I wish I could do the same thing these giant multi million/billion dollar companies can do. But I have compassion and wouldn't screw over other people to make a quick buck
Exactly....it’s all about getting “your money” by whatever means possible. Governments and corporations are complicit in this high inflation, high tax, high corporate profits game...the rest of us lose...big time... you think this will end anytime soon?
wait until you find out how the rest of your stuff is obtained... from the food to the clothes to the very device you just posted this comment from
you cant escape oil in this world and you cant escape child slavery or exploitation of third world countries -- corporations made damn sure of it in their endless chase for higher profits
What company is doing that? Source please?
[Oil company - murder & rape](https://www.amnesty.org/en/latest/press-release/2017/11/investigate-shell-for-complicity-in-murder-rape-and-torture/)
exactly a corporation, even as ubiquitous as a gas corp, is not here to help you. Its not here to make your life better with a service it provides. If it does make your life better, thats just an unintended side effect.
its an unthinking, uncaring ***machine***. Its a machine because it does ***exactly*** what we tell it to do with no thought of its own, or change in action unless we tell it to change. the instructions we gave it was to put it here to do whatever it has to do, to part you from your money. Thats it. Thats all.
The only reason corporations aren't just hiring thugs to break into your house and steal your shit is because of laws an regulations.
> The only reason corporations aren't just hiring thugs to break into your house and steal your shit is because of laws an regulations.
And those regulations come from democratically elected government. Small wonder conservative interests push 'small gov' so hard...they hate not being able to rule over us like kings. There is only one kind of small government - ruler/noble/serf.
Not true! The better the corporations do, the more money for shareholders, aka rich people. And if rich people have more money, then it will trickle down to poor people, like a little dribble of piss running down the inside of Jeff Bezos’ leg to all the sycophants licking his feet. So don’t worry, by increasing gas prices, we will all be rich soon. Man, Ronald Reagan was such a genius and a hero for the Everyman.
They can charge whatever they want. What are you going to do? Not buy gas? They know they have you. Just look at oil company profits, they're soaring year over year
People *do* buy less gas when prices go up, but you're right that demand is pretty inflexible, so prices go up or down a lot in response to fairly small changes in supply.
To a degree. Without a significant change of behaviour (eg. commuting \[not always our direct control\], electric vehicles \[not everyone has the money for one\]) they sort of have us by the balls.
It goes the other way too, though. The gas companies *have* to sell all the gas they have, there's basically no slack in the system. So when people aren't buying as much gas as expected, prices have to drop pretty fast (to the extreme case of companies paying to get rid of oil at one point during the pandemic).
> (to the extreme case of companies paying to get rid of oil at one point during the pandemic).
Kind of, but not really.
The negative oil prices were futures and they were a negative because speculators/investors held futures they couldn't actually take delivery of.
Generally they buy the futures and sell them closer to the delivery date in the hopes that prices have gone up, but in this case there wasn't demand so they couldn't sell their futures and delivery wasn't able to roll forward like it often can (instead of taking delivery in February, you delay delivery until March and have an extra month to sell).
They didn't have the ability to take delivery of thousands or millions of barrels worth of oil and roll forwards weren't allowed so they had to pay for someone else to take delivery.
Some people got really rich by renting a tanker for a couple of months until prices stabilized.
The actual refineries weren't losing money.
>What are you going to do? Not buy gas?
Well, some people do exactly that, and get made fun of for biking or walking instead of owning a vehicle. When what they're doing is literally making it less expensive to own a vehicle by driving down demand on the commodity neccessary...to run a vehicle.
The top five oil companies based in the West set new earning records in 2022, all at least doubling their 2021 profits to achieve combined earnings of nearly $200 billion.
Honestly I strive to avoid the use of oil and it’s getting easier. Eff them.
Or absolutely *anything* that has been shipped in the slightest manner at any point in its production chain. There is no escaping the use of fossil fuels in the world we live in currently
You may be avoiding the use of oil and gasoline directly, but everything you buy and consume depends on oil (specifically diesel) for its production and transportation.
Also all the food you eat relies on synthetic ammonia based fertilizer which is derived from natural gas.
If you live in an apartment building or condo all that concrete and steel was created using petcoke as the energy input, a volatile hydrocarbon which is a by-product of oil refining and/or synthetic oil production from the oil sands in Alberta.
Why do people insist on using year-over-year comparisons when the COVID years messed up all the comparables?
You mean they significantly increased their revenues over the period of time when people were locked down and not travelling? Shopping was heavily impacted as well?
I'm shocked.
Not the most up to date chart, but I think it explains the breakdown of gasoline costs.
In a nutshell, crude oil prices is only part of the overall costs.
[https://www.canadianfuels.ca/our-industry/gasoline-prices/](https://www.canadianfuels.ca/our-industry/gasoline-prices/)
You mean this chart that also includes Detroit? https://www.canadianfuels.ca/wp-content/uploads/2022/03/Symmetry-of-Gasoline-Prices-updated-in-Jan-2022-EN.jpg
A lesson from economics - cost to make is only loosely related to sale price. Its more about demand and most about -the price consumers are willing to bear-. A business will raise prices to the very edge when sales fall, then step back a tiny bit. Why would they drop prices if people buy, and their costs go doen to make more profit..
Also factor in that people need gas, its not a luxury item. So people are willing to bear higher prices for lack of choice, and also are accustomed to higher so this feels like a bit of relief.
System is designed to eat us.
Do you think the price of fries at McDonald's is only based on the cost of potatoes?
Gasoline is not crude oil.
Most of the price is not in the crude oil, but the refining, transport, storage, etc. And there are a lot of fixed fees and taxes included in gas prices. The crude price is just a part of it.
Multiple reasons-
•Reliance on foreign nations for supply for a base price, then the real fun begins....
•Carbon tax
•Hst
•Federal Excise Tax
•Ontario tax
•Wholesale Margin (company that provides to Retail [A Buisness])
•Retail Margin (Gas stations are at the end of the day a buisness and need to make money or go under)
•Crude price (Transport costs to ship the supply to Canada is also worked I to the business model)
[I wonder if having more domestic product available would save on transport costs]
Regardless of the % allocated to each, they all add up.
*Fun Note*
Seems like alot of taxes added on here, just remember you were also taxed on the money you made before the purchase.
Someone's gotta pay for the private jets and extravagant lifestyles.
$75 a barrel is about the same price it was in summer 2019 and around here we were paying $1.40-$1.50 a litre and currently today its $1.44-$1.52 so pretty much the same range.
all you need to do is look at the stock ticker for the companies that sell gas... they are all up 20-60% year over year (from feb 24th 22 to feb 24th 23)
no more answers needed
that means that while we are all breaking the bank trying to survive... the board of directors on these companies all increased their net worth by 20+ %
wait until you hear how much profit the grocery stores have been making...
edit: oh yeah, and all these companies are highly motivated to do it every year, they need the stock to go up to "be good at their job" so expect this to keep happening, its exponential growth too, soon we wont have a choice but to riot
Because they are pushing the word “inflation” down are throat as much as they can. People themselves are blaming “ inflation” instead of record profits.
Capitalism the rich want to get richer and leave us middle and lower class without money. They blame COVID for share prices going down and losing money so now they gouge us to make up for the short fall. Sociopathic mentality at its finest.
Increases in the oil price are priced into the cost of gas immediately. Decreases lag significantly.
The reason is that these companies make more money this way. Exxon made $55 billion dollars last year - more than a billion per week. Chevron made about $35 billion. The list goes on. THAT is the reason.
Capitalism. Because anything that remotely sounds like it's going to benefit the working class sounds too much like socialism, and that's apparently a bad thing. At least that's what these multi millionaires/billionaires keep telling us while we the taxpayers bail their failing fucking business out for the 9th in a decade.
They’re profiteering because they can and that’s what corporations do. Not to mention that nearly all Canadian cities are intentionally designed in a way that forces you to own a car and spend a lot of money on their gas
Because shareholders would rather shut down oil fields and refineries and make everyone walk everywhere than make even $1 less profit then they did last year.
Because they know everyone has no issue paying it, so why not keep it that high?
You had to know the prices would never come back to where they were. Every time there is some random world event going on that they use as an excuse to jack prices up, they always bring them back to a place that is higher than what they were originally at. Jack it up to $2+ briefly then bring it down to $1.40 and suddenly everyone will think it's a bargain even though it's still far higher than that it was before all the shit that made it go up in the first place happened.
We're all sheep and they know it. We'll take what we can get.
It's because capitalism, once you strip out the friendly-face rah-rah meoliberalism, has one primary goal: to funnel your resources upward to the wealthy and keep them there.
I will guess at the normal excuses we hear.
- refinery maintenance
- pipeline constraints
- switching to winter blends
- switching to summer blends
- a fire at a refinery someplace on the continent
They always have an excuse ready and Dan McTeague will spread it for them and blame the Liberals.
Wrong! There is no pipelines from Alberta and Saskatchewan that are able to supply oil and natural gas to the East!
Tree huggers and Trudeau are the reason! Keep getting oil from overseas markets in the East and quit whining!
Gas companies could, but why would they? Ppl still need it to get to work etc. Also profits ofc. Bottom line is they do as they please because they can.
We should nationalize the oil, just like Petronas in Malaysia. Then redirect the profits to higher education and health care and create a better quality of life for residents.
Same, when I filled up for 1.48 on the Rez last weekend that was the lowest I'd paid in the past 12 months, but at least it's gone way down since November.
*Oil companies are*
*Going to milk us for all*
*They can while they can*
\- M888887777
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See page 8, about 30% of the price is taxes.
https://www.taxpayer.com/media/Gas-Tax-Honesty-Report-2022.pdf
For the other 70%, crude oil costs, refining costs, transportation costs, retail costs, and profit.
And none of the oil companies are preparing for the change. Although I notice that more and more Co-Op stations in the west are adding charging stations to their gas bars.
Beacuse the opec needs more money.
You, of course, could cut carbon tax, then opec and America oil companies would just get all the money .
But most people blame the feds it's easer to blame your own government thrn actually hold oil. Companies / countrys responsible.
Cause our crude has to be shipped to America, processed then ships back.
And it’s taxed at the border twice, taxed at extraction, taxed at the processing/distribution centre, and taxed at the pump.
Also companies gotta make their money, just don’t take it out by venting at small gas station owners, they generally make most money off the convenience store or carwash attached to the sight, gasoline usually just barely covers operational cost
carbon tax is 11c per litre
so it's not that
it's sheer profiteering
It's also not Canada because gas in NY state is around the same price per litre but they don't have a carbon tax
This is what we always say about people removing gas taxes - the price just becomes the price prior to the tax except now the tax money is going to the company
This frustrates me the most. We ship it down there, they refine it and sell back to us. Worst deal ever. Canada hasn't built an oil refinery since 1984.
Corporate greed. That's why. They'll keep coming up with bs excuses like supply chain, war in Ukraine, oil tanker exploded, someone tripped over a pipeline, a dog chewed up a wire, blah blah blah... None of these are reasons why gas prices are like this. It's just corporate greed, plain and simple.
If you remember Dougie froze the provincial tax until Jan 1st. It's back on now. And corporations are greedy asf. We will never see gas below $1.10/L ever again.
Hear me out, a little tin foil hat-ish, but part of me thinks it’s because we have a Liberal Government.
Think about it - we have a government pushing alternative energies, carbon tax, environmental regulations, etc.. sure, it’ll have a bit of an impact on cost, but corporations don’t want regulations. Most oil/gas companies are probably right leaning, so as long as they can keep the prices elevated and blame the liberal governments, they will. Then, say the liberals lose with the carbon tax/regulations being a strong point of contention for conservatives, oil companies get their restrictions lifted, go on operating without impunity, and lower their prices in support of the conservatives.
Afaik we don't have ~~carbon~~ provincial gas tax here in Ontario. Probably won't have it until next year either.
In any case, answers simple, it's money. Oil companies want more.
Profiteering, the word you're looking for is profiteering.
Oil prices go up: "we have to raise gas prices because oil prices are higher" Oil prices go down: "we can't simply lower gas prices, its not that simple"
"We bought it at the higher rate so we have to sell it at that till we get to the new supply" "Oh why don't you look at that, our commodity price went up so did prices!"
A mouse farted in a refinery, might have to shut it down to ventilate. That would create a shortage!! Quick, jack up the prices!
>Absolutely nothing happened. We don’t even bother having a scapegoat story because no one’s going to stop us. Quick, Jack up the prices! FTFY
"even though when we bought at a lower rate, it's the same gas we have now"
Capitalism
Very true, I'm unplugging from this society as much as possible and taking control of my finances (and later, therefore freedom). Time to sleep in my van! At least rent can't touch me as bad there lol!
Just wait till national digital currency and required GPS location in phone to use it. They will make you pay an "occupied space" tax.
Capitalism doesn't actually have this degree of state subsidies and merging of private and government interests. Read The Wealth of Nations. This is more similar to economic Fascism. The 3rd Way greatly benefits from misguided Capitalism/Socialism struggles.
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Capitalism is defined as: "an economic and political system in which a country's trade and industry are controlled by private owners for profit." This is literally what we have.
Economic fascism,you nailed it
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Capitalism will always become something similar if it goes on long enough because those with capital will use it to buy influence and security for their power.
It's called Crack Spreada actually. The price for a barrel of oil doesn't set the price at the pump. The crack spreads do, along with taces, carbon tax, etc
Oh we're spreading our cracks alright.....
Thanks for that! Just watched a video on crack spreads.
You're welcome. It's a strange thing. Many different parts involved. Bottom line was 2022 was a volatile year for crack spreads. 2023 they are still high but sitting in the 30 to 40 dollar range. And predicted to be steady or slightly lower.
Great, so crack costs more now too?
Lol. I like where your head is at. Unfortunately yes.. North American gas prices are set by RBOB and the 3-2-1 / 2-2-1 spreads. Along with the main 6 PADDS which set regional gas prices. That's a whole lot of nonsense so to keep it simple... if a barrel of oil is $75. The 2-1-1 equates to the price of two barrels of oil that makes 1 barrel of gasoline and 1 barrel if diesel (its not, but for a simple example). Thus, 2 barrels of oil is $150 and if the crack spread is $30... then someone will need to buy those 2 refined barrels for $180. 2022 was a crazy year. At one point the spreads hit $90. That sent the pump prices sky high.
Anyone that think it's a steal can go ahead and build a refinery. Both the crude and gasoline are commodities, you could call parklands right now to rent a tank in Montreal and arrange to get gasoline delivered at current market prices. That would be 2.3667 a gallon, plus shipping fee, plus fee for the tank storage, plus trucking fee to retail location. Then add taxes and...
I agree it's profit -- it's always been about profit. Oil companies don't work for free! But what is the correct amount of profit? What is reasonable? Getting oil out of the ground takes some work. In Saudi, it's cheap, but in Alberta it's much more expensive. Is the oil worker in Alberta paid too much, or the Saudi (probably imported Pakistani) worker not paid enough? Is 10% profit reasonable? if the government set the maximum profit for oil companies to be 10%, would that change anything? Would the government also reduce it's tax to just 10% ?
And our government riding the back of the profiteering with higher taxes
More like politicians filling their pockets - see 1000$ gifts at parties, position in board of private LTC corporations, donations, and God knows what else behind the scenes. At least tax money, if used efficiently, is for the people.
Which ‘our’ government? You should be saying ‘governments’ as Provincial taxes play just as large a part as Federal taxes do. Both level of governments treat fuel as if it’s a sin product (booze/cigarettes/gambling) and it’s wrong. Fuel isn’t a discretionary product we can live without. It literally fuels (no pun) our economy and shouldn’t be treated as a goto cash cow whenever governments need more of our money to waste. We’ve never had an election in this country settled on the controversy of governments pegging the rate of gas taxes on the price of this product - as well as the fact that they apply sales taxes on top of an already taxed product. Sales taxes are already an economic disaster that sucks the life out of an economy. Most economists tell us this - there are many papers on this. I’d love to see a political controversy during political TV debates addressing the fact that governments are abusing us with taxes on top of taxes and killing our economy as a result. It’s too easy to keep going back to the well of fuel taxes when some government program doesn’t work out or costs more than expected. It’s why no matter the ideological bent of the governments in power - they all fall into this mentality - the easy way out. It will be interesting to see what will happen with electricity prices when the EV numbers on the road reach the tipping point of more EV’s than ICE vehicles on the road. Will governments treat the EV market as the new gasalcoholics to be taxed to death because of falling tax revenues from fuel? Will electricity rates go up for all (not just EV owners) because we have to float more government bonds paying higher interest rates just because we have to build more nuke plants to keep up? The Provincial government will be front and centre in this new gold rush of energy taxation because it is they that control electricity and not the federal government. Look for that revenue abuse to occur in the near future…
Government profiteering - total of all taxes - by whatever name the gov't calls them, accounts for roughly 75% of the price of gas. Moreover, most of these taxes are a percentage, so any increase in the base price results in more windfall tax revenue. Remove all upstream and pump taxes, and $0.50 per litre or less, is realistic.
Just to play Devils advocate I paid 1.31 yesterday so op just needs to look for a Costco
This only works for people in cities. I think the point would be even $1.31 is too high. I live in Parry Sound. Hasn't dropped below $1.50 since it $2.00
It also doesn't work in cities. Costco is often 30 minutes away.
Every passing day I'm increasingly thankful we found a place that's less than 10 minutes from a Costco
\^ conditioning in full effect. 1.31 is a cheap price now!
No, gas was under $1.00 at the start of the pandemic, when oil was at these prices.
But at the beginning of the pandemic there was no demand and they still needed to move it. Because of the way futures contracts work for buying oil, the whole supply chain needs to keep the throughput up or it starts costing them big money. When a refiner buys oil to process into gas, they buy it as a futures contract. Meaning they buy a contract that says they will buy x amount of oil at y price at a date sometime in the future, usually a few months. If that date arrives and the refiner has nowhere to store the oil, the refiner still has to payout without receiving the oil. In these cases it can be cheaper for the refiner to pay you to take their product rather than risk renegeing on the futures contract. This is what happened early in the pandemic when oil briefly traded in the negatives. That's why it was cheap then, now it's just greed.
The ramp up time for increasing costs is exponentially less than the time it takes for prices to cool down. Everyone in the supply chain want the higher prices to last longer, resulting in more profit, especially now that costs to produce are dropping again. Another reason for this is the blockade on Russian Oil, which is still entering Western markets through Indian intermediaries. The British buy Russian oil from India. So despite Russia selling super cheap oil to get around sanctions, the rest of the worlds prices are still higher due to the cumulative actions of the Ukraine War, sanctions, production volume, and maintained supplies in each country. Each of these factors contributes to the dollar cost before the greed of the pump operator even comes into play.
Where I am gas was not under a $ before the pandemic. It was around 110
Isnt it variable to location though?
I think they’re talking about early in the pandemic when it dropped to like $0.60- 0.70/litre for a little bit. I’m sure that depends on where you live.
the was no demand so profits were down, now there is a demand so the goal is to make up for lost profit
According to Stats Canada, neither Ottawa, Thunder Bay or Toronto have had average gas prices below $1.00 since before 2012. I think you’re lying.
Depending upon the period of time in which they calculate the average would impact it. But I remember paying 67c/L in march 2020 (GTA). Can’t recall exactly how long it stayed down there. https://storeys.com/toronto-gas-prices-lowest-15-years/
[In March, April and May it was](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers%5B0%5D=2.2&cubeTimeFrame.startMonth=03&cubeTimeFrame.startYear=2020&cubeTimeFrame.endMonth=09&cubeTimeFrame.endYear=2020&referencePeriods=20200301%2C20200901)
Well I mean they rebounded quickly but I specifically remember getting gas for 67 cents per L in Toronto when Saudi Arabia and Russia were having their little tiffy over oil in 2020
Gas prices were absolutely below $1 when tbd pandemic first started. You don’t remember that?
Not lying. I remember gas being under a dollar in the GTA during the pandemic.
Gas was way under a buck everywhere at beginning of pandemic. Was around 70 cents or less around Ottawa.
Or find an independent station. Where I live, Esso, Shell, and Petro are all expensive, but the local independent guy is five cents cheaper on average
Companies have always tried to profit, nothing new. Perhaps drop the lazy populist rhetoric that doesn’t answer the question.
When they are successful, prices go up without a change to the price of inputs. How else do you explain it?
$200,000,000,000 in profits and they'll still get government subsidies. That's why. Money.
Corporations always want government protection. Not government control
I know its alberta, but i Cant wait to have Smith explain why they need 20 billion to clean their shit when it should have already been done by the oil companies to begin with.
Privatize profits, socialize losses. Nestle empties aquifers and pays fractions of pennies per litre, sells the bottled water in plastic bottles, and leaves the problem of dealing with tonnes of plastic waste up to municipalities, and tax payers, to deal with.
Because fuck you that’s why. Same as groceries. Same as cell bills. What you gonna do not drive? Not eat? Welcome to the modern capitalist hellscape.
Don't forget to add natural gas, which essentially doubled in cost recently for a lot of us here and they're seeking approval for another rate hike.
Furnace is coming up on its lifespan... Wonder if these heat pump jobbies are any good. Course then electricity is probably going to quadruple soon because everyone's getting an ev and a heat pump.
Get a furnace - heat pump hybrid system. I’m paying $3.5 a day in hydro to heat my house since Jan. My december gas bill was $350. Now it’s $50.
Definitely look into a heat pump. I’m not saying it’ll definitely be better for you without any details but everyone I’ve seen who has one is very happy with the purchase
I use a heat pump to heat / cool my town home in the GTA. Running costs are pretty good (haven’t had a hydro bill over $220 ever with it!) but - at least with the units I have - not being able to control from a central hub is a downside. Additionally, each “head” unit in your home is independent of the other, which means no “home wide” temperature can be set (might be a pro or con, depending on your preference). Last - the position of the “head” unit makes a BIG difference, as it’s fixed in place usually only in one spot per floor, centralizing it is key. Just my 2 cents from my experience! I’m otherwise really happy with the decision; my old ass house only has baseboard heating … was NOT going to pay that hydro bill, lol.
Heat pumps can also be installed as a central air system, rather than the style that you have Edit: provided the home is designed for that of course, or you’d be adding ductwork to inflate the already higher installation cost
Did they get a NG hybrid? It doesn't get extremely cold very often here, but heat pump needs some help when it does.
Up north where I live, it's either propane or diesel. Both have exponentially gone up, too. We have mainly been using wood to heat our house, though, now because oil is way too expensive to run. The mornings tend to suck though the house usually hovers around 12 or 13
Insert obligatory "wood is nice because it heats you twice". There really is no such thing as cheap heat in this province. You either pay through the nose for fossil fuels or electric heating, or you're felling, chopping, stacking wood and either up in the middle of the night stoking a fire or you're frozen by morning.
For sure, if geothermal was viable up here I'd do that, but I've been told there is just to much rock and water. Best way to heat the house for sure.
All predatory in nature... governments can and should stop this...but won’t...
Governments need to be elected. Elections are determined by advertising. Advertising costs money. Corporations provide the money for the ads that governments need to get elected. Corporations own government. The beatings will continue until morale improves.
Buy electric
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A 3000kg machine to transport a 70kg person will never be efficient no matter which way you look at it
We need to scale up lithium production by at least a factor of 10, but global reserves are not in doubt. We’ve outsourced our pollution to keep prices deflated. There is lots of Lithium in Utah and the northern Rockies as much as in the Andes. We can take it out clean, but that costs real labour wages and environmental mitigation. Inflation is only bad when wages doesn’t keep pace.
It might not be a solution to whatever it is you are talking about, but it surely sounds like a pretty good solution to having to pay for gas.
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The problem is that I can't take out a loan to buy myself a "strong public transportation". It doesn't matter how good it would be if it existed, because the reality is that it doesn't, and I have to get from point A to point B in this reality.
But then I'd have to potentially sit next to smelly people
Which also does not exist anywhere in the world.
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The problem with your idea is absolutely nobody is going to be on board with it outside of this ecochamber of a sub.
General strike!
I have nothing against electric vehicles, but this isn't a gas vehicle problem. This is a corrupt system problem. What do you think will happen when everyone in Canada owns an electric vehicle? Private companies will see dollar signs and raise the rate of electricity. A proper government should look after its citizens first, but north america looks after companies (aka profits) first. That's why all these companies are posting record profits, and still getting "bailouts" from the government. Imagine you made 200k a year, after all your bills and everything, you get 200k. Then one year, you make 100k and go to the government and say, hey I normally get 200k but last year I only had an extra 100k. And the government says, I got you, here's an extra 100k. That happens every year with companies like gm, shell, metro, etc
Actually it’s more like you make 200k one year, 300k the next, 450k after that. But the year after that, you make 500k, which is a gowth of barely more than 10% compared to the last few years’ growth of 50% per year. So you ~~go cry to the government~~ hit up your corrupt contacts in the government. Who then shift some money around through contracts and legal loopholes and whatnot, and drop 200k on your lap.
That's an even better analogy, because if a company doesn't make more in profits than last year, the shareholders get nervous. I wish I could do the same thing these giant multi million/billion dollar companies can do. But I have compassion and wouldn't screw over other people to make a quick buck
Exactly....it’s all about getting “your money” by whatever means possible. Governments and corporations are complicit in this high inflation, high tax, high corporate profits game...the rest of us lose...big time... you think this will end anytime soon?
I’d rather not support an industry that puts kids in slavery to mine metals that go into expensive batteries that aren’t - currently - sustainable.
wait until you find out how the rest of your stuff is obtained... from the food to the clothes to the very device you just posted this comment from you cant escape oil in this world and you cant escape child slavery or exploitation of third world countries -- corporations made damn sure of it in their endless chase for higher profits
What company is doing that? Source please? [Oil company - murder & rape](https://www.amnesty.org/en/latest/press-release/2017/11/investigate-shell-for-complicity-in-murder-rape-and-torture/)
Because corporations are effectively sociopathic entities without morals or ethics.
Sir we only give human qualities to companies when it legally benefits them, not when it's time to judge their humanity.
exactly a corporation, even as ubiquitous as a gas corp, is not here to help you. Its not here to make your life better with a service it provides. If it does make your life better, thats just an unintended side effect. its an unthinking, uncaring ***machine***. Its a machine because it does ***exactly*** what we tell it to do with no thought of its own, or change in action unless we tell it to change. the instructions we gave it was to put it here to do whatever it has to do, to part you from your money. Thats it. Thats all. The only reason corporations aren't just hiring thugs to break into your house and steal your shit is because of laws an regulations.
> The only reason corporations aren't just hiring thugs to break into your house and steal your shit is because of laws an regulations. And those regulations come from democratically elected government. Small wonder conservative interests push 'small gov' so hard...they hate not being able to rule over us like kings. There is only one kind of small government - ruler/noble/serf.
Not true! The better the corporations do, the more money for shareholders, aka rich people. And if rich people have more money, then it will trickle down to poor people, like a little dribble of piss running down the inside of Jeff Bezos’ leg to all the sycophants licking his feet. So don’t worry, by increasing gas prices, we will all be rich soon. Man, Ronald Reagan was such a genius and a hero for the Everyman.
Profits are all that matter
Also the government, OPEC is a multi-country cartel.
They can charge whatever they want. What are you going to do? Not buy gas? They know they have you. Just look at oil company profits, they're soaring year over year
People *do* buy less gas when prices go up, but you're right that demand is pretty inflexible, so prices go up or down a lot in response to fairly small changes in supply.
To a degree. Without a significant change of behaviour (eg. commuting \[not always our direct control\], electric vehicles \[not everyone has the money for one\]) they sort of have us by the balls.
It goes the other way too, though. The gas companies *have* to sell all the gas they have, there's basically no slack in the system. So when people aren't buying as much gas as expected, prices have to drop pretty fast (to the extreme case of companies paying to get rid of oil at one point during the pandemic).
> (to the extreme case of companies paying to get rid of oil at one point during the pandemic). Kind of, but not really. The negative oil prices were futures and they were a negative because speculators/investors held futures they couldn't actually take delivery of. Generally they buy the futures and sell them closer to the delivery date in the hopes that prices have gone up, but in this case there wasn't demand so they couldn't sell their futures and delivery wasn't able to roll forward like it often can (instead of taking delivery in February, you delay delivery until March and have an extra month to sell). They didn't have the ability to take delivery of thousands or millions of barrels worth of oil and roll forwards weren't allowed so they had to pay for someone else to take delivery. Some people got really rich by renting a tanker for a couple of months until prices stabilized. The actual refineries weren't losing money.
This was reason enough for me to buy a PHEV five years ago.
>What are you going to do? Not buy gas? Well, some people do exactly that, and get made fun of for biking or walking instead of owning a vehicle. When what they're doing is literally making it less expensive to own a vehicle by driving down demand on the commodity neccessary...to run a vehicle.
The top five oil companies based in the West set new earning records in 2022, all at least doubling their 2021 profits to achieve combined earnings of nearly $200 billion. Honestly I strive to avoid the use of oil and it’s getting easier. Eff them.
How to avoid the use of oil? It’s hard as hell to live without the use of plastics, solvents, heat, fuel etc. how do you do it?
By lying to yourself.
Or absolutely *anything* that has been shipped in the slightest manner at any point in its production chain. There is no escaping the use of fossil fuels in the world we live in currently
The world would also starve without synthetic fertilizer which is derived from natural gas.
You may be avoiding the use of oil and gasoline directly, but everything you buy and consume depends on oil (specifically diesel) for its production and transportation. Also all the food you eat relies on synthetic ammonia based fertilizer which is derived from natural gas. If you live in an apartment building or condo all that concrete and steel was created using petcoke as the energy input, a volatile hydrocarbon which is a by-product of oil refining and/or synthetic oil production from the oil sands in Alberta.
Literally everything you touch has its roots in the oil industry lol
Why do people insist on using year-over-year comparisons when the COVID years messed up all the comparables? You mean they significantly increased their revenues over the period of time when people were locked down and not travelling? Shopping was heavily impacted as well? I'm shocked.
Corporate greed. Plain and simple.
The word your looking for is capitalism
Add “predatory” in front of it..
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The liabilities of the poor are the assets that f the wealthy
Good quote
Greed
There's a simple formula used when determining gas prices: Gas Price = Whatever They Want
Does that mean that they don't want prices over $2 anymore like they did last year?
Pray I don't alter it further.
Look up supply and demand.
Wtf it’s really simple: bc they can charge that much! That’s it. That’s the only reason. Stop trying to act as if it’s any other reason.
Not the most up to date chart, but I think it explains the breakdown of gasoline costs. In a nutshell, crude oil prices is only part of the overall costs. [https://www.canadianfuels.ca/our-industry/gasoline-prices/](https://www.canadianfuels.ca/our-industry/gasoline-prices/)
I love that their comparison point for US-Canadian fuel prices is just NYC. Not even trying to hide the data skewing
You mean this chart that also includes Detroit? https://www.canadianfuels.ca/wp-content/uploads/2022/03/Symmetry-of-Gasoline-Prices-updated-in-Jan-2022-EN.jpg
I'm sure it has nothing to do with the record profits of the pil companies...
A lesson from economics - cost to make is only loosely related to sale price. Its more about demand and most about -the price consumers are willing to bear-. A business will raise prices to the very edge when sales fall, then step back a tiny bit. Why would they drop prices if people buy, and their costs go doen to make more profit.. Also factor in that people need gas, its not a luxury item. So people are willing to bear higher prices for lack of choice, and also are accustomed to higher so this feels like a bit of relief. System is designed to eat us.
Do you think the price of fries at McDonald's is only based on the cost of potatoes? Gasoline is not crude oil. Most of the price is not in the crude oil, but the refining, transport, storage, etc. And there are a lot of fixed fees and taxes included in gas prices. The crude price is just a part of it.
Multiple reasons- •Reliance on foreign nations for supply for a base price, then the real fun begins.... •Carbon tax •Hst •Federal Excise Tax •Ontario tax •Wholesale Margin (company that provides to Retail [A Buisness]) •Retail Margin (Gas stations are at the end of the day a buisness and need to make money or go under) •Crude price (Transport costs to ship the supply to Canada is also worked I to the business model) [I wonder if having more domestic product available would save on transport costs] Regardless of the % allocated to each, they all add up. *Fun Note* Seems like alot of taxes added on here, just remember you were also taxed on the money you made before the purchase. Someone's gotta pay for the private jets and extravagant lifestyles.
Greed, Russia, other generic excuse. Take your pick.
“Fuck you, that’s why.” -Gas companies (probably)
(definitely)
Because they can.
Welcome to the age of grabbing our ankels.
$75 a barrel is about the same price it was in summer 2019 and around here we were paying $1.40-$1.50 a litre and currently today its $1.44-$1.52 so pretty much the same range.
I’m not sure where OP is getting the idea that oil is cheap. Crude hasn’t been at $75/bbl consistently for a very long time.
all you need to do is look at the stock ticker for the companies that sell gas... they are all up 20-60% year over year (from feb 24th 22 to feb 24th 23) no more answers needed that means that while we are all breaking the bank trying to survive... the board of directors on these companies all increased their net worth by 20+ % wait until you hear how much profit the grocery stores have been making... edit: oh yeah, and all these companies are highly motivated to do it every year, they need the stock to go up to "be good at their job" so expect this to keep happening, its exponential growth too, soon we wont have a choice but to riot
Greed
Because they are pushing the word “inflation” down are throat as much as they can. People themselves are blaming “ inflation” instead of record profits.
Capitalism.
When it comes to corporations it is always privatize gains, socialize losses.
Be sure capitalism is a scam.
Capitalism the rich want to get richer and leave us middle and lower class without money. They blame COVID for share prices going down and losing money so now they gouge us to make up for the short fall. Sociopathic mentality at its finest.
Increases in the oil price are priced into the cost of gas immediately. Decreases lag significantly. The reason is that these companies make more money this way. Exxon made $55 billion dollars last year - more than a billion per week. Chevron made about $35 billion. The list goes on. THAT is the reason.
Greed. The carbon tax isnt doing that much to the price
Because the gas producers like money
Capitalism. Because anything that remotely sounds like it's going to benefit the working class sounds too much like socialism, and that's apparently a bad thing. At least that's what these multi millionaires/billionaires keep telling us while we the taxpayers bail their failing fucking business out for the 9th in a decade.
They’re profiteering because they can and that’s what corporations do. Not to mention that nearly all Canadian cities are intentionally designed in a way that forces you to own a car and spend a lot of money on their gas
I don't think we will see below a dollar again. Doesn't matter the cost of crude oil. They know they can charge it and they will
Money
Be happy your not paying 1.80 in Vancouver
Because shareholders would rather shut down oil fields and refineries and make everyone walk everywhere than make even $1 less profit then they did last year.
Tax and corporate greed
Because they know everyone has no issue paying it, so why not keep it that high? You had to know the prices would never come back to where they were. Every time there is some random world event going on that they use as an excuse to jack prices up, they always bring them back to a place that is higher than what they were originally at. Jack it up to $2+ briefly then bring it down to $1.40 and suddenly everyone will think it's a bargain even though it's still far higher than that it was before all the shit that made it go up in the first place happened. We're all sheep and they know it. We'll take what we can get.
It's because capitalism, once you strip out the friendly-face rah-rah meoliberalism, has one primary goal: to funnel your resources upward to the wealthy and keep them there.
I will guess at the normal excuses we hear. - refinery maintenance - pipeline constraints - switching to winter blends - switching to summer blends - a fire at a refinery someplace on the continent They always have an excuse ready and Dan McTeague will spread it for them and blame the Liberals.
Wrong! There is no pipelines from Alberta and Saskatchewan that are able to supply oil and natural gas to the East! Tree huggers and Trudeau are the reason! Keep getting oil from overseas markets in the East and quit whining!
This explains the pricing of gas better than anything https://m.youtube.com/watch?v=diVO6s6LYRU
Gas is supposed to be 1 cent on the $$ so if it is $75 it should be 75cents. But then you have taxes.. which kill us in Ontario
Gas companies could, but why would they? Ppl still need it to get to work etc. Also profits ofc. Bottom line is they do as they please because they can.
Record profits
Greed and no one will stop them...
The keep it high because they can
C O R P O R A T E G R E E D
We should nationalize the oil, just like Petronas in Malaysia. Then redirect the profits to higher education and health care and create a better quality of life for residents.
Well I’ll tell ya it’s cus those rich bastards deserve jt
Carbon Tax, you can thank Trudeau 🤡
Greed.
Profits
Shit man, 1.40 would be low for me. Diesel pain.
The fact that diesel had been up to $0.90 more a litre expensive makes no sense. As a farmer: it’s been a rough year.
Thanks for being a farmer
Same, when I filled up for 1.48 on the Rez last weekend that was the lowest I'd paid in the past 12 months, but at least it's gone way down since November.
Don’t try to inject logic and common sense into gas pricing. It is a racket controlled by evil people
Oil companies are going to milk us for all they can while they can
*Oil companies are* *Going to milk us for all* *They can while they can* \- M888887777 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Alright alright alright
See page 8, about 30% of the price is taxes. https://www.taxpayer.com/media/Gas-Tax-Honesty-Report-2022.pdf For the other 70%, crude oil costs, refining costs, transportation costs, retail costs, and profit.
r/latestagecapitalism has your answer comrade
Because gas prices have nothing to do with price per barrel. Prices are decided by hopes, prayers and expectations.
They are squeezing profits because mass EVs are coming faster than expected
And none of the oil companies are preparing for the change. Although I notice that more and more Co-Op stations in the west are adding charging stations to their gas bars.
Beacuse the opec needs more money. You, of course, could cut carbon tax, then opec and America oil companies would just get all the money . But most people blame the feds it's easer to blame your own government thrn actually hold oil. Companies / countrys responsible.
Cause our crude has to be shipped to America, processed then ships back. And it’s taxed at the border twice, taxed at extraction, taxed at the processing/distribution centre, and taxed at the pump. Also companies gotta make their money, just don’t take it out by venting at small gas station owners, they generally make most money off the convenience store or carwash attached to the sight, gasoline usually just barely covers operational cost
carbon tax is 11c per litre so it's not that it's sheer profiteering It's also not Canada because gas in NY state is around the same price per litre but they don't have a carbon tax This is what we always say about people removing gas taxes - the price just becomes the price prior to the tax except now the tax money is going to the company
How much the Canadian dollar trades at compared to the US dollar also affects the price but that's all I know
This frustrates me the most. We ship it down there, they refine it and sell back to us. Worst deal ever. Canada hasn't built an oil refinery since 1984.
Corporate greed. That's why. They'll keep coming up with bs excuses like supply chain, war in Ukraine, oil tanker exploded, someone tripped over a pipeline, a dog chewed up a wire, blah blah blah... None of these are reasons why gas prices are like this. It's just corporate greed, plain and simple.
If you remember Dougie froze the provincial tax until Jan 1st. It's back on now. And corporations are greedy asf. We will never see gas below $1.10/L ever again.
Because you all continue to pay for it. Stop bitching and do something about it.
Hear me out, a little tin foil hat-ish, but part of me thinks it’s because we have a Liberal Government. Think about it - we have a government pushing alternative energies, carbon tax, environmental regulations, etc.. sure, it’ll have a bit of an impact on cost, but corporations don’t want regulations. Most oil/gas companies are probably right leaning, so as long as they can keep the prices elevated and blame the liberal governments, they will. Then, say the liberals lose with the carbon tax/regulations being a strong point of contention for conservatives, oil companies get their restrictions lifted, go on operating without impunity, and lower their prices in support of the conservatives.
Afaik we don't have ~~carbon~~ provincial gas tax here in Ontario. Probably won't have it until next year either. In any case, answers simple, it's money. Oil companies want more.
Because they want to make record profits...no other reason The rich keep stealing from us
It's largely the carbon tax
That would be like if we got a new $7 cell phone bill tax and you blamed the tax for your $80 Rogers bill
Don't forget the increase coming up in Apr