Petro Canada/Suncor

June 7, 2014

Yesterday(June 6) while I arduously travelled west to work on a Scarborough TTC bus after a long walk and an outside wait to a place that I used to get to at Pharmacy a lot quicker travelling daily from downtown Toronto on the TTC east bound subway and a brief indoor wait and bus ride, I noticed at least 2 Petro Canada stations charging top price for gas $1.38.9 per litre like the Shell self serve and the Select self serve stations, unlike the full service signed Ultramar/Amco charging 136.? [I was at this station yesterday, August 31, 2014, when their full service sign read 129.1 per leter for regular while the Petro Canada’s self serve read 132.1 per leter.]

What seemed meaningful about the gas prices yesterday was that I remember that about 2 years ago almost to the month when service stations showed the numbers $1.37 per litre, a lot of people started asking what Petro Canada was doing about this gas price that people thought was too high in 2012. One of these people was an auto mechanic, the other a teacher. I kept watching these gas price signs since then and only recently have I begun to see the $1.37 price reached and surpassed by Petro Canada, Shell, Select and Esso. Now in the case of the complaints of 2 years ago I was amazed to hear that those who were complaining (the teacher & the mechanic) should have been aware in the spring of 2012 that the former Crown Corporation, Petro Canada had been dissolved when it was purchased in 2009 by Suncor through the laborious negotiations of” America’s Rick George (explained in his 2012 book Sunrise) former Sun oil leader raised in Colorado, but now an officer of the Order Of Canada. The conditions for his closing the 2009 deal with the government of Canada that eliminated Canada’s crown corporation, Petro Canada, included the U.S.’s Sun Oil company’s( that had become Canada’s Suncor) continuing to market tar sands oil products under Petro Canada signs, and also the lower stock price that Mr. George had negotiated long and hard to achieve in 2009 at the start of the Obama, Bernanke great recession while world oil prices were falling from their 2008 peak just after the third great oil shock since the 1970’s.

Mr. George was replaced as CEO of Suncor/Petro Canada by his old global oil industry friend Steve Williams in 2012. Mr Williams ‘has also served as president of the company since December 2011. He was COO from 2007 to 2011. Prior to joining Suncor as executive in May 2002, he was an executive at Innospec. Prior to them in 1995, he served for Esso.[1]”