Gas, the government and observations that make me want to spit up my breakfast

So, I’m listening to the Dean Blundell show this morning and they gave the public a quick overview of the suffering that is the Oil conglomerates. Here you go:

BP and Shell – $17 billion combined (7.6B & 9.08B)
Esso – $7.5 billion
Petro-Canada – $1.08 billion
ConocoPhillips – $4.14 billion

Now, I’m no analyst…not by any means, but I’m not too bad at math. Let’s say that $5 billion of BP and Shell is Canadian profit, same for Esso; the full 1.08 billion for Petro-Can and let’s say the same for ConocoPhillips (because I’ve never heard of them). $5B + $5B + $1.08B + $1.08B = $12.16 billion in Canadian revenues….give or take..for this quarter.

Now, my heart goes out the oil barons because according to Petro-Can their entire profit only comes from 2% of our ridiculous gas prices. So, $12.16 billion is their 2% cut of the gas prices. That’s how I’m evaluating it and here’s the pie chart to prove it! (note: heavy sarcasm due to lack of sympathy)

35%. 35% is what Petro-Can is claiming the government is taking in taxes. So, if my math is right, the Canadian Government is making 17.5 times more off the gas than the oil barons are. That would put the tax earnings for the Government of Canada at approximately $220 billion…for one quarter. If indeed one quarter means one quarter, the math would dictate that I should be able to multiply that $220B by 4 for annual gas tax raking for the Canadian Government… so let’s do that:

$220 billion x 4 = $880 billion

Huh.

That’s just on the gas taxes.

How do we factor in the >50% taxes that the Canadian Government takes from us every year? What other taxes…land transfer tax, GST, PST, Frack-me-in-the-ass-ST. I’m thinking that’s a whole pile of money our wonderful officials get to pull down each year. The part that completely baffles me is with this one piece of the pie, we are still getting reamed on our health care and education.

This is what I propose we do. Have you ever seen the movie Fight Club? Let’s bring everything back to Zero.

Who’s with me?