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The Robber Barons of the 21st Century
Oil Companies
Hands down, oil companies are the robber barons of the 21st century. I am sick of the manipulation of gasoline prices by these immoral companies,many of which are provided billions of dollars in subsidies and tax exemptions.
Here is just one reason why these companies should be investigated for price fixing and pricing irregularities. Last week, the price at the pump jumped 18 cents per litre — overnight. For any Americans reading this article, that would amount to roughly a 25% increase for one gallon.
Why did this occur? According to an oil company spokesperson, it is a supply issue. When there is a shortage, gasoline prices jump. OK. I understand that but the oil companies are being disingenuous. If a service company’s storage tanks are filled at the old price on Saturday night, why does the new price take effect on the following Monday morning? Therefore, the new retail price takes effect on storage tanks of gasoline that the oil company was selling at the old retail price. Now, they are making and extra 18 cents a litre. That’s highway robbery!
