Saudi Arabia sells oil to Canada’s east coast for a bit less than 80 dollars a barrel the average price at the pump is around $1.13 .
Alberta’s oil is selling for under 15 dollars a barrel, yet Canadians pay over $1.40 a liter for gas at the pump. Its not about Alberta’s crude, it’s about how Canadians are being screwed. Plus, they want us to buy them a pipeline, so they can charge even more for their bitumen.
Rising fuel costs have become the primary driver of inflation sending it to the highest rate in six years, all this while we see the lowest prices ever in the history of Alberta. Like fools society is actually sympathizing with the OIL industry.
If we want to have lower prices at the pump, and bring down inflation, Canada should be buying more Saudi Oil.
Gas tax per liter in BC outside of Vancouver and Victoria is 38 cents on oil that sells for under 20 dollars a barrel.
The problem is the media refuses to identify the real villains here. It’s sort of like doctors extra billing patients, the Oil industry has successfully argued the arm on the right has nothing to do with their arm on the left. On the left they extract the oil or bitumen out of the ground, and they claim they get pennies on the dollar, then the sell it to their arm on the right.
Now they say the one has nothing to do with the other. Today, there are 15 refineries in seven provinces, producing nearly two million barrels per day. But over the last four decades or so, 20 refineries have closed, adapting to changing economics. The ones that are still operating have in many cases improved efficiency and expanded capacity. Dec 21, 2015
By shutting down refineries they can turn that 75 dollars a barrel (Saudi oil) into liquid gold, they make over 100% profit per barrel in Canada. They are making approximately 16 dollars a barrel on Saudi oil, so they are make a whopping $76.00 CDN PROFIT on Alberta oil, or a 760% profit.
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