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Oil Prices Versus Gas Prices
Original Air Date:
Friday, August 12, 2011
According to a report in Alberta newspapers, the price of oil this week fell about 25 per cent from May levels, but average pump prices have dropped less than ten per cent in the same time.
In May, former Federal Industry Minister, Tony Clement, called on oil companies to explain prices. Industry critics are pushing for retail price regulation like those used in Quebec and the Atlantic Provinces. The fuel industry insists a free market works best for business and for consumers.
Are oil companies making an unfair profit from fluctuating oil prices? Would regulation protect consumers, and would price controls harm Alberta’s energy sector?
Joining us for this discussion is Satya Das, Founder and Principal of Cambridge Strategies; and John Skowronski, Director of Environmental Affairs with the Canadian Petroleum Products Institute.