Canadians losing big to Big Oil
Posted by Jeff on May 25th, 2008
From Duncan Cameron: “In the last year the price of a barrel of oil has gone up by $45 or 65 per cent. It averaged $70 in 2007, while this year it is looks to average $115.
“In Canada, as recently as 2003, the cost of producing a barrel of oil, including royalties, averaged only $5.57. Of course, that year Canadian royalties were again among the lowest in the world, 23 cents a barrel.”
We are getting ripped off. It requires real mental discipline to keep believing that nationalizing our oil production is not a good idea. It works everywhere else, so why should Canada be an exception?
