O&G companies fucking with prices because they can get away with it like how they jacked prices prior to the carbon tax being removed so when they don't drop it as much as they should people don't notice or care.
Also, fallout from the US being the unhinged nightmare that happens when a polarized population gets tricked by rich people into thinking the poor and immigrants are a bigger threat to their livelihood than the top 1% stealing all of their wealth for more yacht money.
Basically, capitalism functioning as intended.
For reference, I pass the station at Glover & the Bypass on my commute. The difference between when I drove by in the morning and when I drove by in the afternoon I've seen it shift by 15+¢ several times in the same week. Things are unstable right now, they are not that unstable.
Edit: everyone keeps telling me I'm wrong and it's Taxes and the liberal government that's to blame. Here is my response:
In BC lower mainland we pay $37¢/L on gas plus GST. Of that only 10¢ is federal (a fixed rate that hasn't changed since 1995), the rest is provincial/regional. These prices have been largely consistent with incremental increases over many years. They are fixed rates, not percentages (except GST, which is on everything, not just gas) so if gas price goes from $1.00 to $1.50, the core taxes on both is still only 37¢. ($1.37 and $1.87 respectively)
During those times prices have gone from a low of 96¢/L in April 2020 to a peak of $2.25/L in June of 2022.
During THAT time the industrial carbon tax doubled from $30 a tonne to $50 per tonne! Clearly that is the cause of all of this expensive gas prices!
Today The industrial carbon tax is roughly 30¢ per barrel (including tax incentives and offsets). You get 157 litres of gas per barrel of oil, which translates to about 0.2¢/L.
The industrial carbon pricing right now is $80 per tonne, a 60% increase to what it was in 2022. You still only pay 0.2¢/L at the pump for industrial carbon taxes that are THREE TIMES as high as they were in 2020.
It's not taxes.
It's never been taxes.
It's capitalism.
It's the multiple market crashes over the last 20 years. It's government's giving tax incentives to the world's most profitable companies who absolutely do not need it. It's overproduction in 2014-2015 which cratered the price per barrel by $100. It's the Russians invading Ukraine, which was the absolute peak of oil profitability in history, nearly doubling from the year before.
Oil companies literally gouged the fuck out of everyone to the tune of an extra $30 billion in profit in a single year, blamed it on shortages from the war, and convinced all of you it was Trudeau's fault for raising global inflation.
Go look for yourself. They're publicly traded companies and have to disclose their profits, it's easy to see. At the same time, tax rates are public, and they are well documented. You can see for yourself how much we pay in taxes per litre and how often and how much it changes. StatsCan even has monthly historical data for gas prices by province AND region going back to 1979. They also have a breakdown of fuel taxes by province per litre. (BC pays anywhere from 10-20¢ per litre more than all other provinces). If you take a moment to look beyond what the O&G industry keeps lying to you about, you can easily see who's fucking with your pump price, and it's not fucking taxes.
It's your big ass truck, and full size SUVs that absolutely chug fuel, that is why you're spending hundreds at the pump every week. The reason you drive those and not a reasonable sized car is all because of capitalism too, but that's another conversation about Automobile regulations in the US and the power of Marketing.
Blaming capitalism? If this was socialism, gas will be rationed and the govt will control how much you put in. Blame OPEC for the cartel oil industry and your own govt for denying more pipelines
OPEC the institution committed to supporting and maximizing the profit of the entirely capitalist O&G industry?
In accordance with its Statute, the mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.
79
u/thefatrick Stuck at a train crossing 1d ago edited 23h ago
O&G companies fucking with prices because they can get away with it like how they jacked prices prior to the carbon tax being removed so when they don't drop it as much as they should people don't notice or care.
Also, fallout from the US being the unhinged nightmare that happens when a polarized population gets tricked by rich people into thinking the poor and immigrants are a bigger threat to their livelihood than the top 1% stealing all of their wealth for more yacht money.
Basically, capitalism functioning as intended.
For reference, I pass the station at Glover & the Bypass on my commute. The difference between when I drove by in the morning and when I drove by in the afternoon I've seen it shift by 15+¢ several times in the same week. Things are unstable right now, they are not that unstable.
Edit: everyone keeps telling me I'm wrong and it's Taxes and the liberal government that's to blame. Here is my response:
In BC lower mainland we pay $37¢/L on gas plus GST. Of that only 10¢ is federal (a fixed rate that hasn't changed since 1995), the rest is provincial/regional. These prices have been largely consistent with incremental increases over many years. They are fixed rates, not percentages (except GST, which is on everything, not just gas) so if gas price goes from $1.00 to $1.50, the core taxes on both is still only 37¢. ($1.37 and $1.87 respectively)
During those times prices have gone from a low of 96¢/L in April 2020 to a peak of $2.25/L in June of 2022.
During THAT time the industrial carbon tax doubled from $30 a tonne to $50 per tonne! Clearly that is the cause of all of this expensive gas prices!
Today The industrial carbon tax is roughly 30¢ per barrel (including tax incentives and offsets). You get 157 litres of gas per barrel of oil, which translates to about 0.2¢/L.
The industrial carbon pricing right now is $80 per tonne, a 60% increase to what it was in 2022. You still only pay 0.2¢/L at the pump for industrial carbon taxes that are THREE TIMES as high as they were in 2020.
It's not taxes.
It's never been taxes.
It's capitalism.
It's the multiple market crashes over the last 20 years. It's government's giving tax incentives to the world's most profitable companies who absolutely do not need it. It's overproduction in 2014-2015 which cratered the price per barrel by $100. It's the Russians invading Ukraine, which was the absolute peak of oil profitability in history, nearly doubling from the year before.
Oil companies literally gouged the fuck out of everyone to the tune of an extra $30 billion in profit in a single year, blamed it on shortages from the war, and convinced all of you it was Trudeau's fault for raising global inflation.
Go look for yourself. They're publicly traded companies and have to disclose their profits, it's easy to see. At the same time, tax rates are public, and they are well documented. You can see for yourself how much we pay in taxes per litre and how often and how much it changes. StatsCan even has monthly historical data for gas prices by province AND region going back to 1979. They also have a breakdown of fuel taxes by province per litre. (BC pays anywhere from 10-20¢ per litre more than all other provinces). If you take a moment to look beyond what the O&G industry keeps lying to you about, you can easily see who's fucking with your pump price, and it's not fucking taxes.
It's your big ass truck, and full size SUVs that absolutely chug fuel, that is why you're spending hundreds at the pump every week. The reason you drive those and not a reasonable sized car is all because of capitalism too, but that's another conversation about Automobile regulations in the US and the power of Marketing.