datum (n=1)3d ago

RE: https://mastodon.social/@TheBreach/116648268384649327

Canada produces three times more oil than it uses, and imports virtually no oil from the Persian Gulf. There’s no reason why our economy should be roiled by a war on the other side of the world.

To stop Canadian oil companies from overcharging Canadians, government could regulate the price of oil in Canada—and tax windfall oil profits to protect consumers and build home-grown renewable energy.

https://breachmedia.ca/an-oil-price-shock-isnt-inevitable-we-can-rein-in-and-tax-the-oil-industry/

#CDNPoli #Canada #oilAndGas #FossilFuels #politics

Show threaddatum (n=1)

And there's no real reason we Canadians should allow our future to be sacrificed for fossil fuel profits:

The big winner from this crisis is Canada’s petroleum industry. It set all-time records for high profits in 2022, during an earlier and smaller oil shock that followed Russia’s invasion of Ukraine. Those records will soon be shattered thanks to this new war.

...

Other countries, like the U.K. and Norway, also charge taxes of 50 per cent or more on profits generated from petroleum during times of high prices

That's 65 billion dollars of windfall so far, 155 billoin dollars if the war continues! There's NO good reason that should be fossil fuel company profits instead of thousands of dollars of social services PER CANADIAN.

https://breachmedia.ca/an-oil-price-shock-isnt-inevitable-we-can-rein-in-and-tax-the-oil-industry/

#CDNPoli #Canada #oilAndGas #FossilFuels #politics

An oil price shock isn’t inevitable. We can rein in and tax the oil industry ⋆ The Breach

Canadians are told skyrocketing oil prices are the inevitable result of a faraway war. It’s a lie that resigns us to being gouged by oil companies

The Breach
May 27 at 8:55pmWeb
Show threadChristine Malec3d ago
@datum Almost every day recently I think, what if the Prime Minister just nationalized the entire oil industry in Canada?
Show threadJustin M3d ago
@ChristineMalec @datum people lost their shit when Pierre Trudeau tried it. Premier Smith said BC Ports belong to everyone. Okay cool then Alberta oil revenues belong to all Provinces and Territories then. Chop Chop Premium Smith....