Post #621353

With Iran, Its 2022 again on oil pricing? "the oil price spike of 2022 was a needless and very costly episode that caused a cascading worldwide disruption. It was not the result of fundamental economic forces; it was the result of speculation, financialization, geopolitics, and monopoly power. Canadians paid massively for this spike, and continue to do so. The petroleum industry profited, with higher consumer expenses flowing into industry profits on a near dollar-for-dollar basis.. When price spikes do occur, excess profits to the petroleum industry should be recouped by government through stronger royalties or excess profits taxes. " https://cdn.prod.website-files.com/679d4ed301fa26e771ccafaa/68e7f6f5455ed72dca79079d_FalseProfits-March2025-Counting%20the%20Costs.pdf