CNRL blaming NDP for $405M net loss

[coreya3212]

And some posts send my faith downhill....

[Sushi]

Originally Posted by coreya3212

And some posts send my faith downhill....

Most of the posts are from those not familiar with quarterly financial reports in general. The Q report is really not an appropriate medium for political postulation and below the belt punches regardless of how anyone feels about the nominal corporate tax increase.

Who thinks the AER will now be watching CNRL closer?

[rugatika]

Originally Posted by Sushi

Who thinks the AER will now be watching CNRL closer?

Is AER a political wing of the NDP party?

[Sushi]

Originally Posted by rugatika

Is AER a political wing of the NDP party?

well, that's a great question. the certain answer remains to be seen...but, the glass tower I work in has noticed an increase in inspections, audits, and requests for information and I'm at one of the companies that behave themselves.

[From The Hip]

How the hell the price of gas got jacked up from as low as 96 cents a litre to as high as $1.12 a litre when the price of a barrel of oil is at a 4 month LOW and all in less than 24 hours.

Total steaming crock of BS IMO.....nothing but opportunistic price gouging.If that is the way the oil companies wish to operate they get no sympathy from me....in fact I would quite happily give the CEO's of those oil companies a glass of water when they are drowning.

Just my angry .02

FTH

[sakogreywolf]

Originally Posted by 79ford

I would hazard a guess that oil plummeting 60% or so depending on the benchmark probably had more to do with their loss than some paper write down from a whopping 2% rise in taxes did

Ummm...you do realize that a tax rate increase from 10% to 12% is actually a 20% increase in taxes.......don't you?!?

[midgetwaiter]

Originally Posted by Okotokian

There is some mighty creative accounting going on there.

No kidding, gives me a couple ideas though....

Dear CRA,
This is what I to spend on medical services for the next 25 years, we'll knock that off this year's assessment I guess?

[79ford]

Originally Posted by sakogreywolf

Ummm...you do realize that a tax rate increase from 10% to 12% is actually a 20% increase in taxes.......don't you?!?

Sounds big when you play numbers, in reality it is a two percent increase or an extra ten million on say 500 million.

Tax bill goin g from 50 to 60 million on half a billion isnt the end of the world.

[79ford]

Originally Posted by From The Hip

How the hell the price of gas got jacked up from as low as 96 cents a litre to as high as $1.12 a litre when the price of a barrel of oil is at a 4 month LOW and all in less than 24 hours.

Total steaming crock of BS IMO.....nothing but opportunistic price gouging.If that is the way the oil companies wish to operate they get no sympathy from me....in fact I would quite happily give the CEO's of those oil companies a glass of water when they are drowning.

Just my angry .02

FTH

Refining is a low margin business remember?

[sakogreywolf]

Originally Posted by 79ford

Sounds big when you play numbers, in reality it is a two percent increase or an extra ten million on say 500 million.

Tax bill goin g from 50 to 60 million on half a billion isnt the end of the world.

No matter. In reality, it is a 20% increase, which is substantial. It's not a play on numbers....it is simple math.

[JustMe]

I got thinking about this (I know, it doesn't happen often) and mentioning kicking when down.... CNRL is whining because corporate taxes went from $10 to
$12 on $100 profit. But the oil companies seem to think nothing of raising fuel prices by $10 per $100 dollars of fuel when the cost of crude is the lowest it's been in years! Wonder what the trucker or farmer thinks about that? Think it cuts into their already slim profit? Can you imagine the b1tching there'd be on this forum if the provincial government rose the tax on fuel, darn near monthly it seems, by an honet 10%???? I don't care if it was the NDP, Conservatives or Wild Rose, we'd be up in arms!!! And rightly so, but that's what the big oil companies are constantly doing to us and yet it's become so common place we hardly say a word??? I don't think it's the provincial government that should be catching the flack, but maybe, just maybe companies like CNRL and Esso and Shell and.....

Originally Posted by masalma

Regardless of the numbers. Alberta relies on oil and gas, and with price of oil where it is, NDP shouldn't be kicking the dog while it is down.