Discussion · Government Orders
Mario Simard Bloc Québécois
“When the government cuts fuel taxes, oil companies just raise their prices and keep the extra money. We should control gas prices instead of cutting taxes so oil companies cannot do this.”
“Mr. Speaker, we have seen this in the past. What do oil companies do when the government cuts fuel taxes? They boost their refining margins. We need to put a mechanism in place if we want to have a direct impact on the price of oil. The best mechanism would perhaps be some type of price management system to ensure that the gluttonous oil and gas sectors do not take advantage of the fact that the government is giving the public tax credits or tax cuts to unduly increase their refining margins. It seems like that would be somewhat more productive than what my Conservative colleagues are proposing today. I look forward to hearing my colleague’s thoughts on that.”
Official Hansard
Mr. Speaker, we have seen this in the past. What do oil companies do when the government cuts fuel taxes? They boost their refining margins. We need to put a mechanism in place if we want to have a direct impact on the price of oil. The best mechanism would perhaps be some type of price management system to ensure that the gluttonous oil and gas sectors do not take advantage of the fact that the government is giving the public tax credits or tax cuts to unduly increase their refining margins. It seems like that would be somewhat more productive than what my Conservative colleagues are proposing today. I look forward to hearing my colleague’s thoughts on that.