85RZ500 Posted March 24, 2009 Report Posted March 24, 2009 How does that matter, jdobbin? They buy the company for its assets and turf its management for now being redundant. End of story!Too bad Maurice Strong wasn't still there to receive a pink slip! I am very proud of the fact that in my entire life I have only purchased $2 worth of gas from PetroCanada. It was in the early 80's when I was running on fumes in a rural area and the only gas station within reach was a PC. That $2 was enough to get my Rabbit convertible to another brand of station. I've always been bothered by the fact that PetroCanada never sold a drop of Canadian gas! They bought it all from Libya and Venezuela. Plus I was offended by the manner the company was put together in the first place. One of the few times I've been able to vote with my feet! Right on WB, I recoil at the sight of the country's name on their sign. All our money spent on yet another Liberal folly to save us from high gas prices. I'll drive by three of their stations to buy gas from one of others. And I buy only gas from any of them Quote
Smallc Posted March 24, 2009 Report Posted March 24, 2009 I buy almost all of my gas from Petro Canada. Quote
Alta4ever Posted March 24, 2009 Report Posted March 24, 2009 Right on WB, I recoil at the sight of the country's name on their sign. All our money spent on yet another Liberal folly to save us from high gas prices.I'll drive by three of their stations to buy gas from one of others. And I buy only gas from any of them Typically they are the highest priced station in the area, first to raise prices and last to lower them. i can't remeber the last time I bought gas from them. Quote "What about the legitimacy of the democratic process, yeah, what about it?" Jack Layton and his coup against the people of Canada “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” President Ronald Reagan
dpwozney Posted March 24, 2009 Report Posted March 24, 2009 Competition? That was the line handed us for forming Petro-Can in the first place! It was implied that they would force the other guys to keep their prices down in order to compete with them.Of course, this turned out to be a total crock! Petro-Can stations were always the first to put their prices up and the last to lower them! They simply became just another player that "hosed" us all. It has been said many times that the true bottleneck for competition with pricing has always been the lack of refinery capacity. It really doesn't matter how many service stations there are if they all get their fuel from the same few refineries. After all these years we've never seen Petro-Can or anybody else build even ONE new refinery! According to Wikipedia, Petro-Canada started in 1975. Also according to Wikipedia, Shell started up the Scotford Refinery in 1984. What does that tell us? It tells us you're wrong. Quote
Wild Bill Posted March 24, 2009 Report Posted March 24, 2009 I buy almost all of my gas from Petro Canada. You've got something against buying Canadian, or did you just not know? Quote "A government which robs Peter to pay Paul can always depend on the support of Paul." -- George Bernard Shaw "There is no point in being difficult when, with a little extra effort, you can be completely impossible."
Smallc Posted March 24, 2009 Report Posted March 24, 2009 (edited) You've got something against buying Canadian, or did you just not know? Where I live almost everything comes from the same oil sources. Besides that, I don't go for the buy xxxxxxxxx line. Edited March 24, 2009 by Smallc Quote
Wild Bill Posted March 24, 2009 Report Posted March 24, 2009 According to Wikipedia, Petro-Canada started in 1975.Also according to Wikipedia, Shell started up the Scotford Refinery in 1984. It tells us you're wrong. Ok, I was wrong. There was ONE built! Were there TWO? How much did consumption increase over those decades compared to the increased supply of that one refinery? How many refineries were built by PetroCanada to force down the wholesale price of gasoline to the gas stations, allowing room to discount the price to us poor citizens, who had been told all the money spent to form PetroCanada was a good deal for us 'cuz it would give us a break at the pumps and give us more reasons to vote Liberal! I think you're picking at my model and ignoring my point. Quote "A government which robs Peter to pay Paul can always depend on the support of Paul." -- George Bernard Shaw "There is no point in being difficult when, with a little extra effort, you can be completely impossible."
jdobbin Posted March 24, 2009 Author Report Posted March 24, 2009 How does that matter, jdobbin? They buy the company for its assets and turf its management for now being redundant. End of story! Mismanaged could mean assets and the rest of the employees as well. Quote
benny Posted March 24, 2009 Report Posted March 24, 2009 Rules put in place when Petro-Canada was a state-owned company limit any investor from owning more than 20 percent of the company. How Suncor will overcome this government hurdle wasn't immediately clear. It could structure the transaction as a reverse takeover, which technically means that Petro-Canada will be the surviving legal entity, even though Suncor will be in full control of the merged company. http://dealbook.blogs.nytimes.com/2009/03/...ises-questions/ Quote
85RZ500 Posted March 25, 2009 Report Posted March 25, 2009 Rules put in place when Petro-Canada was a state-owned company limit any investor from owning more than 20 percent of the company. How Suncor will overcome this government hurdle wasn't immediately clear. It could structure the transaction as a reverse takeover, which technically means that Petro-Canada will be the surviving legal entity, even though Suncor will be in full control of the merged company. http://dealbook.blogs.nytimes.com/2009/03/...ises-questions/ Yep, I caught a radio newstype spouting off about the merger. She called Petro an "iconic" Canadian company, damn near drove off the road. Quote
benny Posted March 25, 2009 Report Posted March 25, 2009 Yep, I caught a radio newstype spouting off about the merger. She called Petro an "iconic" Canadian company, damn near drove off the road. Not unlike Apple, Suncor can certainly make a fortune by hiding everything behind icons. Quote
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