GlossyEye back from Bahamas posted a photo:
What we need is Canada to refine its own oil. We export(sell) our oil to U.S and we import(buy) back gasoline. Does this make any sense?
Another aspect, I have seen no one comment on yet, is how these prices affect shipping of goods. Virtually everything gets to your stores by truck and if their prices rise, so will yours.
The oil companies are definitely gouging us but so is government. In Ontario, taxes make up 35 - 40% of the price per litre. Some are set amounts but others, like the HST are percentages, so when the price per litre goes up, they make more tax revenues. So, don't hold your breath for any level of government or any party to do anything about it.
So 3 years ago a barrel of oil was at $145 and gas was $1.30/litre, now gas is at $1.37/litre and a barrel of oil is around $108. OPEC is probably ticked at the Libian Air Strikes and I am sure the oil company execs probably need a bigger bonus, new car and a new cottage!!!!
This is nothing short of gouging, problem is the government of the day doesn't have the guts to take on the oil companies. Oh wait, we don't have a government of the day because we are in the midst of an unwanted and unnecessary election.
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