Canada must nationalize the oil industry, according to Professor Lauzon

Canada should follow the example of Venezuela and Norway and nationalize the oil industry is repeat what Professor Leo-Paul Lauzon, who saw a way to combat what has, in his All of a monopoly. "How can we prove that there truly a cartel?", Wondered the Chair of socio-economic studies at the University of Quebec at Montreal (UQAM), at a press conference Tuesday, marking the unveiling of a study on the subject. One need only watch "mirobolants profits" that oil companies have each year and rates of return they make, he said, without forgetting that all service stations increase their prices at the same time. Professor Lauzon and researchers Martine Lauzon (his daughter) and Marc Hasbani have analyzed data from 1999 to 2007 of the six largest oil companies on the planet, is Exxon Mobil, Royal Dutch Shell, BP, Chevron Texaco, Total and Conoco Phillips. Net profits of these companies have exploded more than 400 percent over the past eight years. These profits are unimaginable in a normal market economy, they argue. In addition to being the sole producer and exporter of oil to be privatized oil and gas industries, Canada has gone up to sell these resources to foreign interests, noted Leo-Paul Lauzon. He argued that the Canadian government deprives a significant revenue, and intentionally, it reflects badly. Professor Lauzon calls on the Government of Canada to reverse this situation. "All producing and exporting countries that have nationalized their oil and gas resources have done with great success, he argued. There is no failure!" The profits of the six oil surveyed do not follow normal curve, researchers believe. They have posted average rate of return after taxes of 26 percent. Exxon Mobil, the world number one, has even reached a rate of 35 percent. "If you make a profit after tax of 8 per cent while inflation rate is 3 percent, you double your capital in seven or eight years, which is excellent," said professor of accounting. When you es delivered to the rate of return after taxes of 25 to 30 per cent, there is a problem. And over a long period, this is a factual proof that we are not facing a competitive business. " "In a competitive sector, where restaurants and a bar or nightclub which profits are crazy, it will attract others and it will restore the rate of return of all, he added . Rates of return of 30 percent after taxes, even the 'Shylock' do not do that! "