Oil Companys are not to blame!
Its the speculators that are driving the price of crude oil up, not the oil companys. Lets see we've had a war (desert storm) and up went the price, then it came back down, OPEC cut production the price went up, a refinery shutsdown the price goes up. Another war the price went up, then storms wipe out only 20% of the US production and prices goes nuts, Oh yea the old guy passes away over in the middle east, and yep the price went up.
I live not to far from a former Petro Canada Refinery that was recently shutdown.
The refinery in question has been sold to a 3rd world country and is being taken apart and rebuilt over there.
Canada has no fuel reserves in stock pile like the US, we see the rack rate for fuel change daily as the cost per barrel goes up so does the cost per litre of fuel. Canada makes 92% of its required fuel with its own oil!
So why does a storm that rocked the US drive gas prices up in Canada? Today on the way to work it was $1.36 per litre, thats over $5.00 Candian per US gallon! when converted even with the exchange rate I'm going to drive over a fill up in Niagara Falls NY it'll be cheaper!