Media should hold gas moguls accountable

I am utterly dismayed at the apathy that is being displayed by the Canadian media (radio, television and newspapers) and the federal government at the exorbitant, inflated prices we are being charged at the pumps. It does not take a genius to calculate what we should be paying.

About a year and a half ago, when gas prices were around the $.65 mark, the exchange rate was $1.65 to $1 US and oil was about $70 US per barrel. The Canadian refiners were paying $115.50 a barrel. The cost of crude oil now is $128 US a barrel, which equates to about $130 Canadian. You can plainly see from

these figures that Canadian refiners have had an increase of only 13 per cent. Add 13 per cent to the cost of petrol a year and a half ago and you have $.74 per litre. This is what we should be paying at the pumps today.

The media is keeping quiet because of advertising revenue, and the government is keeping quiet because of massive business tax revenues it will collect from the petroleum companies (nothing but another form of direct taxation on the working man).

When pricing was more reasonable and the exchange rate was $1.65 US to $1 Canadian, gas prices in America were a lot lower than they were here. You would think that now that the dollars are at par, the gas prices would be the same, but they aren't. I was in New York yesterday and the gas prices there are about $1.20 cheaper per gallon. The price they are paying in the US is what we should be

paying here, as everything is on level terms now. The gas moguls are maintaining the price difference as if they are still paying the old exchange rate. Someone should tell them that the dollars are now on par.

Why hasn't this been picked up by the media and the government? Are they too scared to challenge the petroleum moguls, as it will result in a loss of revenue? Who cares about the hard working public, desperately trying to make ends meet, while most of their income is taken up getting to and from work?

Put a stop to this now, and write to the newspapers, and radio and television stations. Write to your Members of Parliament and local government, and make them listen, demand action, and put a stop to these ridiculous profits being generated at our expense.

Dave Simmons,

Innisfil