By Letter to the Editor on January 7, 2017.
So oil analyst Dan McTeague trots out another specious prevarication for Big Oil explaining the 25-cent-a-litre jump in gas prices since Christmas to ameliorate the anger of the ignorant masses. He feeds us the whopper that two struggling refineries over 1,000 miles away in the U.S. make our price balloon. Hey, you used that excuse last year when an Ohio refinery went down.
In Montana, just south of us, gas prices have not spiked as high as ours. We also notice that inversely, when we had supply problems due to the Fort McMurray fire, Ohio’s pump price never budged up a penny.
Prior to crude oil price plunging from $112 per barrel when our pump price was $1.12 per litre, big oil tied pump price consistently to the world price of crude. Since plunging and staying over 50 per cent lower than two years ago, Big Oil has repeatedly cited supply and demand issues as their justification for jumping pump prices to satiate their greed. All summer they told us in the off driving season prices should be lower. Surprise!
It’s a marvel indeed that they can so unscrupulously set their own price when and how they want without a peep from politicians, people or the press. They are hoping we are too stultified to object to their rapacious greed while they have preened their profits by laying off much of their workforce, keeping obsequiously quiet about their quarterly profits.
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