Gas Prices

Posted: April 6, 2011 in Current Events
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Coincidence??  The big increase in Canadian gas prices just seems to coincide with the election.  Both politicians’ and public opinion are preoccupied with election melodrama, so there is less chance of a strong outcry or indignation from any quarter, including the media.  I have heard no attempt by any news media source to criticize or analyze the jump in gas prices over the past two weeks.

Is it a result of Middle East tension and rising oil prices?  Or is it the result of hedge fund speculation by Wall and Bay street financial institutions (as was suggested by the movie, “Inside Job”?  Or is it just opportunism on the part of the oil and gas companies, striking for easy profits while the nation is preoccupied preoccupied?  We’ll never know, because right now it seems to be a blind spot for the media.

In the United States, average gas price increase over the past three weeks translates to about 3 – 4 cents per litre.  This is about half of the upward lurch that we seem to be experiencing.

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