Wednesday, July 3, 2019

Gas companies refuse to reveal profits to Price Fixing Inquiry



CBC is reporting that "Hearings for an inquiry into soaring gas prices in B.C. don't kick off for another week, but several major companies selling gas in the province are already refusing to share details about their profit margins. The B.C. Utilities Commission asked more than a dozen companies to disclose their retail margins, which show how much money they make per litre of gasoline pumped from their stations. Shell Canada, Husky Energy, Imperial Oil and Suncor Energy declined the commission's request. In written responses posted online, the companies say those numbers are confidential and commercially sensitive." JAIL THEM.

2 comments:

  1. COMMERCIALLY SENSTIVE???? my ass. commercially sensitive, they all sell at the same price. How can that be commercially sensitive. O.K. it may be commercially sensitive if the public knew how much they were being ripped off for and decided to occupy their buildings in protest.

    Shell Canada isn't a Canadian company, its part of the Royal DUTCH Shell corporation.

    Huskey is owned by C.K. Hutchison, based out of Calgary, with C.E.O., Robert J Peabody since Dec. 2016. who owns C.K. Hutchinson? 70% OF THE SHARES ARE OWNED BY LI KA SHING, our favorite Hong Kong billionaire who made a killing when he was sold the Expo lands for a song.

    Suncor includes Petro Canada, which they took over. The C.E.O. is Steve Williams and the chair of the board is Michael Wilson. they are the world's largest bitumen producers with a revenue of $29.68B, canadian, with a declared profit of $1.99B, Canadian. lets not forget they must have written off an awful lot of things. In the last decade at one point, they had the 6th largest green house emissions in Canada. they aren't good corporate boys. they were fined $2.2M in the U.S.A. for exceeding enviornmental emissions. Maybe a problem in Canada also.
    As to how owns the stock, don't know, There are pie charts which list which corporations own which proportions of stock, but who owns the actual stock, not found by me. I did read, at one point, Chinese interests owned some of it. What the status is today, don't know.

    Imperial Oil: 69.6% of the ownership stake is held by, EXXON MOBIL CORP.

    we ought to have stayed with the plan Trudeau Sr. had, that we owned our own oil industry. alas, the Albertans still haven't forgiven him and since then it has all been bought and sold by strangers.

    It would be fun if the oil industry were turned into a crown corporation. might even reduce the cost of our gas because you gotta know they aren't in it for us. Like the "go directly to jail" card. This is a cartel and in my opinion price fixing. Why in the hell would B.C. pay the highest gas prices in Canada? because they can get I from us without too much political blow back, until now.

    If they refuse to give the information, lets hope the inquiry goes to court to compel them to give "fork it over". enough is enough. they pollute our air, our land, our water, pay little in taxes and then make out like bandits.

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  2. Corporate Communists and Enemies of the People.

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