OK. As we all know gas prices -- particularly for cars -- is high. Up here in Canada, the major gas player Petro Canada, naturally has the same excuses as everyone in that it's not their fault.

If that's true, how exactly did they manage in 2000 to "record annual net earnings of $893 million compared with $233 million in 1999, far outstripping its previous best year of $306 million in net earnings in 1997.". That's almost 300% growth! And we're supposed to believe that all this profit is because they're not ripping us off?

Sounds like Petro Canada needs to give out some free lube up there.----- pun intended.

Too bad ya cant program your pronto with a macro that lowers the gas price before you pump, and puts it wayy back up when u leave... :P

It certainly raises an interesting question, Daniel: along with the banks posting record profits, and Natural Gas companies pushing up their prices to be on a level with gasoline prices (even though there is no shortage of either raw material or sales), when will the Federal Government For the People start taking their role seriously?

In the "old" days, a lot of companies got rich selling things people wanted. In these new hi-tech days, a lot of companies are getting rich selling things people need, and jacking up the prices to ludicrous levels.

In the "old" days, government was wise to stay out of competition, especially when it was fair. Today, the rules have changed, and our governments need to re-examine their role. How can they allow a welfare state to continue to grow like a weed, when our country is supposed to be one of the richest in the world?

Too bad there's no really fresh thinking going on around here; only politicking.... Mike....

Yup, just got this month's Union Gas bill (Ontario, Can)in the mail today and suprise suprise, they are increasing their rates again this month. It's amazing how holdups in oil production in the middle east cause domestic produced oil and gas prices to skyrocket. This country amazes me sometimes...I am sure that when Union Gas/Union Energy posts their profits they'll be up there like Petrocan's. It also amazes me how gullible big industry like that thinks we are. "We have to increase gas prices at the pumps by 65%, oh by the way we just posted a record profit this year...no one will EVER make the connection..." But then again, no one (me included I guess) in Canada will ever revolt against this crap, and they know it :-(

Rant over..

Let's put it this way. We elected Mulroney twice, and Chretien three times. I think that says it all. :-)

You know what is ludicrous, ATCO Gas here in Alberta has just applied for a 124% increase in Natural gas prices here (they ended up getting 50%). Just prior to that there was an article in the paper condemning them for not locking in natural gas prices be purchasing long term contracts, instead opting to buy on the spot market. ATCO stated that Hedging would have done nothing to protect consumers from the rising prices...say what! How can buying at a lower price not have saved the consumer $$?

Now for those of you who do not knwo how ATCO supposedly works, they do not make money on the price of natural gas only on the delivery. So either this is a pile of doggy doo, or seeing as they do not make money on the actual sale of the gas there is no incentive to lock in their purchases.

Ah the Alberta Advantage, gotta love it.

That's it exactly. In the days when the gas utility made its profit on selling and delivering natural gas, there was a serious incentive to buy the product at the lowest price possible. Consumers Gas in Toronto had 20 year contracts for supply, and when they didn't sell it all (it was a "must take" or "pay" contract), they stored the surplus in underground storage for those bad days in winter when they needed extra.

Now that there is no money in selling natural gas, they don't really want to handle it, so they are not going to contract for long terms, especially when customers can quit and go to a different gas broker for his supply. If your sales are not stable, you arn't going to commit to purchase large amounts of gas.
They are actually forcing customers over to the brokers, who may or may not give a better price, it's all in the contract, be sure you read it before signing.