Thursday, September 29, 2005

Centre for policy alternatives cries wolf on gas prices

The Centre for Policy Alternatives have put out a leaflet saying the oil companies have been gouging Canadians on gas prices. On major problem with their analysis: a portion of the price of gasoline is made up of the potential replacement cost of the fuel. So, if you are operating a gas station, and a hurricane threatens to wipe out a big chunk of gasoline production, you'd be smart to raise prices now to hedge against the possible shortage.

We're not letting the oil companies off the hook, but the real scam is the 30 per cent rate of taxation.

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