How many of us are wondering about the 5 Ws when it comes to the free fall in oil prices? Seems there is no clear or consistent answer why pump prices vary. It leaves one wondering how production, profits and price setting occurs for the consumer.
Who, or what, do we believe?
When oil prices were high the stock piles were too low for the demand and production costs were the reason for high prices.
Now there is too much oil on the market and this is driving the price down.
Yet the Conservatives claim they can still balance the books by the end of April.
In the world of oil and the unpredictability of cause and effect anything could happen by April.
Personally, the timing of this free fall couldn’t happen at a better time — an election year.
The Conservative government has allowed the natural resource sector to get away with virtually paying no taxes and no pollution penalties. The Conservatives have allowed Canada’s natural resources to be hemorrhaged with no security or payback to Canadians.
We all seem to forget that our taxes pay for health, education and three levels of taxation for infrastructure. When billions of dollars are given away in international aid (corporate welfare and programs for the wealthy) it begs the question if we are paying too much taxes. Who and what can Canadians believe?
Will government stop relying on our natural resources for the only economic plan, relying on foreign ownership to employ Canadians, importing no skill to skilled workers on a temporary basis?
Maybe this is just the right time for all governments to create sustainable jobs, return to manufacturing at home, employ Canadians, create international opportunities to our natural resource sector instead of having high priced politicians selling on behalf of billion dollar companies.
The hidden gem in all of this is those overpaid executives who profit from natural resources are going to have to do a little belt tightening.
It’s going to take more than plummeting oil prices to correct the inequities between rich and poor.
Jo-Anne Berezanski, North Saanich