Rebel News
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Canadian Oil Sands reports $128M loss -- $120M of that in taxes
Posted
August 6, 2015
Views
7,594
Likes
111
Comments
74
Engagement
2.44%
August 6, 2015
7,594
111
74
2.44%
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4:49Now PlayingCanadian Oil Sands just issued its quarterly financials. They lost $128 million in the past 90 days, compared to the $176M profit they made this time last year.
And $120M of that recent loss is from the Alberta NDP's new tax increase. Ezra Levant of TheRebel.media calls it "the revenge tax." It's one of three new taxes Rachel Notley's left wing government has imposed on the "evil" energy industry.
If you don't care about "fat cats" being taxed, think again. Lots of ordinary people own energy and resource industry stocks in their RSPs. The NDPs war on the oil patch hurts every Canadian.
Yes, the global fall in oil prices have hurt the industry too. But the NDP's response to that crisis has only made the situation worse.
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