In Case You Missed it: Oil Companies Post Massive Profits!

As prices at the pump go through the roof, oil and gas companies are seeing profits climb:

“Exxon earned nearly $11 billion in the first quarter, a performance that will likely land it in the centre of the national debate over high gasoline prices.”
– Associated Press, Apr. 28, 2011

“Royal Dutch Shell PLC…on Thursday said its first-quarter earnings rose 60 per cent to $8.78 billion (U.S.), thanks to higher oil prices…”
– Associated Press, Apr. 28, 2011

“Husky Energy on Wednesday beat street estimates with strong first quarter results that jumped 70 per cent from last year. The Calgary-based integrated oil producer made $626 million…”
– Calgary Herald, Apr. 28, 2011

Stephen Harper thinks oil and gas companies need a handout. Jack Layton and I do not agree, we think it is time to end Harper’s oil subsidies and ineffective across-the-board corporate tax cuts, while making life more affordable by eliminating the federal sales tax on home heating, appointing an ombudsman to investigate gas price gouging and cutting taxes for small business.