Thursday, May 12, 2011

Rising Fuel Costs

The cost of fuel is on the rise again.  There is speculation it may go higher and stay high over the long term.  Today Industry Minister Tony Clement has indicated fuel costs are less than transparent and he wants the oil industry to explain to a Commons committee how they are arriving at their pricing levels.  The public has always been in the dark on this issue and they deserve an explanation to assure that the industry is not simply gouging consumers on fuel pricing.  Is it possible the new majority conservative government will get some action on this issue or will they cave in to the big oil giants.

The rising cost of oil and fuel at the pumps is a windfall for governments.  The government may have to consider sharing increased revenues with consumers by reducing taxes on fuel.  The Harper conservatives are always talking about reducing taxes.  Now would be a good time to put that theory into practice.  Read more...