Post date: Jun 08, 2012 11:15:54 PM
Here is Gordon Duff, "Checkng In" Friday with, among other things, the skinny on what is going on in the crooked oil business.
It's quite a sordid tale. The world is so sordid on multilevels it would have been beyond the projections of anyone outside the sphere of the fascist "Illuminati" looking ahead from the 1960s. At any rate on the level of the oil racket:
For US consumption let’s start on a big issue locally, fuel prices. Every summer, Americans are subjected to a fuel scam, starting after 9/11 where gasoline went to nearly $3.00 per gallon on $55 dollar a barrel oil. Oil profits surged, our economy tanked, Wall Street got deregulated and we entered a period of “cowboyism” that cracked the US economy.
Oil is now being artificially supported by a consortium led by the Koch Brothers, supposedly to rig the presidential election. Oil has crashed, belongs at about $46 per barrel but is sitting at $83 based on a rigged futures market and everyone involved belongs in prison. Only gas going to $2.50 or below in the next few months, something Republicans will die to prevent during an election year, will save most American families.
The rigged world of hydrocarbon blackmail is criminality on the largest imaginable scale, capable of dictating to any government, orchestrating any war and is, as any but the most ignorant know, based on suppressing technologies that eliminated the need for gas, oil, coal and nuclear power long ago.
An odd side note, the nation with the most advanced research in peaceful “aneutronic” (not dangerous) energy sources is Iran. Their scientists are decades beyond the US, Britain, France and Israel. Do a search and see what efforts have been gone to so that this information will not get out.
The scientists murdered in Iran were not working on nukes, these were scientists working on hydrogen/boron plasma fusion projects, totally unclassified, no weapons potential at all, but capable of making coal and oil worthless. You will find this in scientific journals if you check but nobody checks.
After all, we don’t want the oil companies broke, we might have to end our wars, a few crooked banks might close and Americans might be able to regain some of their standard of living, feel secure enough to take a look at their government and get rid of the whole thing. We wouldn’t want that, would we? Oh, what you just read was my way of leaking a “psyop” that I wasn’t supposed to. Sorry about that.
So this is the template of the self-evidently criminalized oil biz. Now we have locally the architecturally powerful Irving corporation seeking an increase in wholesale gasoline and home-heating fuel margins. The move would lead to higher costs for consumers, according to the CBC.
The Friday CBC.ca item 'Irving Oil requests hike in wholesale gas margins' reads:
Irving Oil Ltd. is seeking approval from the Energy and Utilities Board to increase wholesale margins on gasoline and home heating fuel, a move that would lead to higher costs for consumers.
The province’s regulated gas prices allows for a six-cent margin for wholesalers, a fee that has not been increased since the system was put in place in 2006.
In documents filed with the Energy and Utilities Board, Irving Oil says those margins must be increased or it could threaten the financial viability of wholesale companies in the province.
“It is important for the actual wholesale costs to be recovered in the wholesale margins because without cost recovery it will not make economic sense to continue to supply retailers where the wholesale cost increases exceed what can be recovered from retailers,” stated Matthew Holland, the petroleum manager of Irving Oil Marketing G.P. in a document filed with the regulator.
“As the costs need to be ultimately recovered, it is necessary to provide for a reasonable opportunity of cost recovery to maintain a competitive marketplace. “
There are 59 wholesalers registered in New Brunswick.
Irving Oil would like to see the wholesale margin for gasoline to rise to 7.36 cents per litre from six cents per litre.
Further, the company would like to see the wholesale margin for heating oil to rise to 6.28 cents per litre from five cents per litre.
Irving Oil has requested the financial documents that it is using to justify its request to be kept confidential.
“Public disclosure of the confidential information will harm Irving Oil by providing its competitors, suppliers, retailers and other counterparties with access to commercially and financially sensitive, information with respect to a critical component of its operations,” said Len Hoyt, a lawyer for Irving Oil in a statement to the board.
Retail margins increased in 2011
When the Energy and Utilities Board sets its weekly price, a certain portion is set aside for the cost of fuel, plus wholesale and retail margins. And a maximum of 2.5 cents per litre can be added for a delivery charge.
While Irving Oil is seeking an increase to its wholesale margins, retailers have already benefited from an increase in their margins. In June 2011, the board approved the maximum retail margin for gasoline to increase to 5.9 cents per litre up from five cents per litre.
Irving Oil said much has changed in the oil and gas industry since the regulated gas system came into place in 2006.
“Since the time when the wholesale margins were established, there have been substantial increases in wholesale costs,” Holland said.
“Wholesalers cannot and should not continue to have their unit margin eroded without the ability to recover their lost revenue in a timely manner,” Holland added in his statement.
Here is what one commenter under this story says about the Irving bid.
Inte-Grity
2012/06/08
at 1:37 PM ET
Greed. Greed. Greed.
New Brunswickers are reasonable people. They rarely put up a fuss.
But, they will...
Irving owns pretty much everything in the Atlantic region. With the shipbuilding contract, the forest, the oil, trucking, etc, they should try to be "reasonable" too.
Oh, but they control all of the daily and weekly newspapers. And even CBC and other media are scared of them. So, not much criticisms going their way.
Monopoly is a game people tend not to play anymore...
What part of the 1% VS 99 % don't you understand?
Spineless governments always sided with the Irvings.
But, the silent majority is waking up...
Reply
The CBC item with more comments is here.
Duff's full takeout is at Veterans Today here.