[Marcarc]

EVERY place crashed in the early eighties. Why would anybody assume it was ONE thing? Capping prices only means you don't make as much money, it certainly doesn't mean your economy crashes. Hell, the ONLY industries offering decent returns are ones that are the most highly regulated. In farming just look at dairy, eggs and poultry. Deregulation wiped out the east coast fishery, and now its doing it to forestry. All deregulation means for gas is that the US has a steady supply, SOME canadians get rich, more get jobs, people still pay as much at the pumps, and when it gets sucked dry you're back with a huge population that has been trained for a defunct industry.

[badsector]

Deregulated gas prices are a recipe for disaster. The oil maffia already fixes gas prices and they hose us at the pumps. When their greed exceeds reasonable, they can push the entire country into recession. If I have to spend all my disposable income on gasoline (cause I have to work) I won't be able to spend it on other things. It may be news for some but this is a consumer economy: over two thirds of it depends on consumer spending.<br /> <br /> All European countries capped gasoline prices. European countries barely have any oil and must import most of their supply. They also have more taxes added, so they regulate prices to prevent economic chaos. It's ridiculous that I live in a country with major oil reserves and pay over a buck a litre. This is unacceptable.

[Dr Caleb]

Regulated crude prices are equally a recipe for disaster. If the oil companies don't get a good price for it here, then they'll just export it to where they get the best dollar for it. <br /> <br /> Which was one function of the NEP.<br /> <br /> Speaking of deregulation, why am I paying $13 /GJ of natural gas, when the futures price is $7 ? Thanks, King Ralph.<br />

[Marcarc]

I think that says it all. Theres a BIG difference between regulating oil when you are an oil exporter vs countries that are oil IMPORTERS. If you import a product you can't very well regulate it can you? As said, a country that regulates too low will find itself without oil. However, its far different when you've got tons of your own oil. As also admitted above, oil prices ARE regulated by the oil oligopoly. We need only look back to the seventies to see a concrete example of regulation. However, the argument is getting odd since the poster is asking WHY he pays so much for gas in a country that has so much-well, as said above, THAT is what regulation is for. Look at Venezuela which also is an exporter and is capping the prices on its oil. It can do that because the GOVERNMENT owns it. A private company, such as own all the oil in Canada, certainly isn't going to cap it. But that's what regulations do. We've already seen PEI cap oil prices, and the New Brunswick Premier has just said they are doing the same. However, in PEI the government simply subsidized it any time the price went over a certain level, and who knows what will happen in NB, particularly since the IRving family, which owns the largest refinery in Canada, also pretty much OWNS the provincial government.

[badsector]

A litre of gas costs around 9 cents in Iran. We shouldn't have to pay an ever increasing Klein tax in Canada. The government could regulate gas prices to protect consumers AND the economy at a reasonable level while also ensuring that oil producers make a FAIR profit. They can also ensure that domestic supply is satisfied first. If a private company leaves the oil, it's their problem, they can't take the wells with them.

[Marcarc]

Again, you just need to read NAFTA to know that can't happen. Not only do oil companies not want it, but our own governments don't want it-so what hope do we have?<br /> <br /> Ironic if you consider how our economy could be kicking everybody's ass with regulated energy prices.