Oil price drop well-timed

How many of us are wondering about the 5 Ws when it comes to the free fall in oil prices?

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

Just Posted

UPDATE: Driver escapes from crash in Sidney

Town truck and another vehicle collide, causing van to roll over

GALLERY: Storm causes damage along the waterfront in Greater Victoria

Municipal crews are cleaning up Monday following Sunday’s high wind and waves

Woodwynn Farms to be shut down and sold

The rehabilitation program at Woodwynn Farms is being shut down. According to… Continue reading

Bob Heyes back behind Shamrocks bench for 2018 season

Art Webster, Mike Simpson, John Hamilton will also return

Coun. Fred Haynes to run for mayor against Mayor Atwell

Haynes to go head-to-head with Atwell for Saanich mayoral seat in 2018

Testing the Google Arts & Culture app

Going face to face with art

Butchart Gardens is hiring now and paying more

Wages start at $15, job fair Feb. 20

VIDEO: Fuel truck and train collide in B.C. causing massive fire

More emergency crews are still arriving on scene of a massive fire at the Port Coquitlam rail yard.

Cash still needed for Stelly’s Cross Path

MLA Olsen wants more specifics first

Back to work: U.S. government shutdown ends after Democrats relent

Short-term spending measure means both sides could see another shutdown stalemate in three weeks

Man lives despite malfunctioning defibrillator at B.C. arena

A middle-aged man went into cardiac arrest after at game at Pitt Meadows Arena last Wednesday.

Cause of Northern B.C. seaplane crash released

TSB releases report on seaplane crash during a water landing in 2016 near First Nations community

Vancouver police crack down on pop-up pot vendors

Officers raided merchants’ tables on Robson Square late Sunday

Bell Media, NFL take appeal over Super Bowl ad rules to top court

At issue is a ban on substituting American ads with Canadian ones during the game’s broadcast

Most Read