The decline appears to be due to a fall in the number of offshore Louisiana rigs. The rig count in Louisianna, counting both natural gas and oil, fell by three. Texas and Oklahoma added one rig each, although it is not clear in the data if these were oil or natural gas.
Canada added total of 15 oil rigs in the week.
Since the Trudeau government came to power in 2015, federal spending has increased by 82 per cent from $248.7 billion under Stephen Harper to $452.3 billion in the current fiscal year.
During that period, inflation has been just 18.7 per cent. Population growth has been 6.5 per cent, meaning federal spending under Trudeau has far outstripped both the rising cost of living and the increase in population.
Revenues have outstripped inflation and population growth, too – by 46 per cent – but not nearly as much as spending has increased.
In this administration, it’s always someone else’s fault. Inflation is now the No. 1 concern of voters, so the White House first blamed COVID. Then Donald Trump’s tax cuts. Then Vladimir Putin. Then meatpackers and the poultry industry, Big Oil and pharmaceutical companies.
Now, Democrats have identified a new inflation scapegoat: plastic. Visa, Mastercard, American Express and other credit cards hidden away in your wallet.
Ontario Liberal candidate Granville Anderson has said there is a “silver lining” to record high gas prices – namely, that it may “take…pollutants off the road” and force people to find alternate modes of transportation.
Gas prices have continued to rise in recent days. This week in California it reached a new record average of $6.02 per gallon, leaving the other states behind and affecting the national average, which already exceeds $4.5 per gallon.
According to the American Automobile Association (AAA), California fuel prices two days ago were between $5.72 and $6.76 per gallon in that state. According to AAA data, all states have now averaged above $4.00 per gallon. The increase is mainly due to the high cost of oil, which is around $110 per barrel.
Called the Select Luxury Items Tax Act, the new legislation is part of the 440-page budget bill, which is being studied by the House of Commons finance committee. Parliament is likely to pass the bill before rising for summer in June, but it is possible it could be amended based on the feedback from policy experts.
The economist Thomas Sowell once said that inflation is just a way to take people’s money without having to openly raise taxes. But you don’t have to tell that to Annette Murray and her husband Tom McGregor.
The Vancouver couple, aged 64 and 59, live on disability pensions adding up to $37,000 a year. Or they used to. With higher prices for food and medical supplies, the two are now relying on their savings to make ends meet.
In a joint statement released Wednesday afternoon, Trade Minister Mary Ng and Agriculture Minister Marie-Claude Bibeau said China has reinstated market access for two Canadian grain trading companies that have been prevented from exporting canola seed to China since March 2019.
Life in Canada is more expensive than ever – inflation is at a 31-year high, gas prices are out of control and the cost of goods and services continues to increase. As it looks more likely Canada is heading into a recession, it doesn’t seem like our politicians care as they continue to spend on frivolous and expensive programs and refuse to reduce spending or taxes.
The U.S. stockpile of diesel fuel, which is vital for the transportation sector and economy at large, hit a nearly two-decade low as fuel prices hit a record high Wednesday.
The nationwide stockpile of distillate fuel oil — a category that includes diesel and fuel oil — declined to about 104 million barrels, the lowest level since May 2005, the Energy Information Administration (EIA) reported Wednesday. East Coast inventories declined to 21.3 million barrels of diesel fuel or about two weeks worth of supply, the lowest level since data was first recorded in 1990.
“These are mind-numbing, eye-popping prices that … is probably not sustainable for most Canadians on fixed incomes/middle class,” said Dan McTeague of Gas Wizard, also president of Canadians for Affordable Energy.
“I think it’s fair to say most Canadians are taking a pounding on this and it’s not the ones who drive for kicks and giggles, it’s the ones that need this to get to work…. And it will be long term.”
Last June, the Biden administration unveiled its “National Strategy for Countering Domestic Terrorism.” Despite its anodyne-sounding name, the “National Strategy” was anything but anodyne.
The pamphlet represented the logical culmination of the left’s cynical use of the Jan. 6, 2021, U.S. Capitol riot as a means of ginning up large-scale, nationwide anti-Republican/anti-Trump voter sentiment.
The result, evinced again by Attorney General Merrick Garland’s disgraceful October 2021 memo directing the FBI to intrude on local school board meetings and crack down on anti-critical race theory parental revolts, has been a roiling cold war waged by the ruling class against us “deplorables” and our political “wrong-think.”
Prime Minister Justin Trudeau has been eyeing a wealth tax to pay for his government’s spending spree. Heavily redacted documents obtained by the Canadian Taxpayers Federation under an access to information request show the prime minister asked for analysis of a $60-billion wealth tax. With deficits looming to the far horizon, it must be a tempting cash grab.
For Canadians, higher gas prices represent another hit to our finances.
By increasing transportation costs, surging gas prices mean people have less money available for anything else.
And of course, higher fuel prices push up the cost of food, clothing, and nearly everything else. Since companies must transport goods and find it more expensive to do so, they are left with no choice but to pass on that cost to consumers.
This pushes people into a binary choice:
Continue to drive and cut back on other expenses, or cut back on driving.
Both ‘choices’ represent a narrowing of financial freedom and personal freedom.
You voted for it. pic.twitter.com/rGyx8lJI0i
— Slk55again (@slk55again) May 7, 2022
