Business
Gasoline prices up from a year ago as drivers head into holiday weekend
Canadians planning to hit the road for the last long weekend of summer can expect to pay more for gasoline than they did last Labour Day. Taps are photographed at a gas station in Frankfurt, Germany, on Oct. 5, 2022. THE CANADIAN PRESS/AP-Michael Probst
By Amanda Stephenson in Calgary
As crude oil prices hit a twelve-month high on Friday, Canadians planning to hit the road for the last long weekend of summer will pay more for gasoline than they did last Labour Day.
The national average gasoline price as of Friday was $1.67 cents per litre, according to fuel price tracking website GasBuddy.com. That compares with $1.37 cents per litre on Sept. 1, 2022.
Gasoline prices began to rise in July and August of this year, in part due to crude oil production cuts by Saudi Arabia and Russia. Crude oil prices continued their rise this week, due to dwindling crude inventories in the U.S. as well as projections that Saudi Arabia will extend its supply cuts into October.
On Friday, the benchmark crude price West Texas Intermediate hit a 12-month high, trading above US$85 per barrel compared to about US$75 per barrel one year ago.
Vijay Muralidharan, energy analyst and managing director with R Cube Consulting Inc., said driving demand through the summer months has been strong and North American refineries are dealing with a tight supply situation.
Still, he said consumers are likely to find some relief at the pumps into the fall and winter, as the impact of interest rate hikes by central bankers increasingly takes effect and global economies begin to cool, reducing demand for crude.
“I think there will be an economic slowdown in the in the near-term horizon,” Muralidharan said.
“Early next year I think you will see some breathing room, a demand pullback. It’s going to come, it’s inevitable.”
However, Muralidharan said in the meantime refinery stocks are so tight that any kind of unexpected outage or issue could cause a jump in prices.
“Even if it’s a 100,000 barrel or 200,000 barrel refinery, any kind of upset is going to cause price spikes,” he said.
According to GasBuddy.com, the most expensive gasoline this week can be found in B.C. and Newfoundland, while drivers in Alberta enjoy the cheapest fuel prices.
This report by The Canadian Press was first published Sept. 1, 2023.
Business
DOGE on the job: How Elon Musk and Vivek Ramaswamy caused the looming government shutdown
Legislators had 24 hours to read through 1,547 pages. Ramaswamy read them. Musk presented an alternative. The process collapsed.
Elon Musk and Vivek Ramaswamy are flexing their muscles even before President Elect Donald Trump’s inauguration, spiking a bipartisan spending bill. The bill was introduced on Tuesday with voting scheduled for Wednesday. Legislators were under massive pressure to approve of the spending bill or risk a government shut down. Problem is, the bill was over 1,500 pages long!
Chances are, the bill would have passed and in the ensuing weeks as details became known the public would have been outraged by all the extra plans to spend / waste taxpayer dollars. Legislators would have apologized by saying they simply had no time to read everything and they were desperate to avoid a shut down.
That’s where the new DOGE comes in. First Ramaswamy somehow read the bill and posted a video to TikTok and X to inform voters what they were going to be paying for in this new bill.
@vivekramaswamy Congress wants to waste your money without telling you, make sure that doesn’t happen
From MXMNews
The newly formed Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, successfully campaigned to halt the bipartisan continuing resolution (CR) in Congress. Musk and Ramaswamy took to X, rallying conservatives against the 1,547-page stopgap funding measure they argue is riddled with wasteful spending and unnecessary policy provisions.
Musk, a billionaire entrepreneur and vocal advocate for government reform, characterized the bill as a “pork-barrel” monstrosity. “Unless @DOGE ends the careers of deceitful, pork-barrel politicians, the waste and corruption will never stop,” Musk posted on X, adding that lawmakers who support the bill should be “voted out in two years.”
Meanwhile, Ramaswamy, a former Republican presidential candidate and DOGE co-chair, proposed an alternative to the bulky spending bill. Sharing a draft of his one-page resolution, he described it as a minimalist approach that avoids exacerbating historical spending excesses. “This is what a clean CR looks like,” he wrote, emphasizing the need for fiscal restraint.
Musk and Ramaswamy posted this to X.
Shorter = better. This bill is only 116 pages, instead of 1,500+ pages. Took a LOT less time to read. Glad to see the following garbage from yesterday’s bill removed in the current version: – Congressional pay raise/health benefits – 17 miscellaneous commerce bills – Random new pandemic policies, like funding for “biocontainment research laboratories” – Renewal of the “Global Engagement Center,” a key player in the federal censorship state
In record time, the public was informed, politicians were influenced by outraged taxpayers, and politicians blamed each other for a faulty bill and were forced to go back to the drawing board.
It’s all explained very well in this video presentation from Kaizen Asiedu, a Harvard graduate in philosophy who makes videos informing Americans about complicated political matters.
Friday’s deadline to avoid a government shutdown looms. Musk posted on X that a shutdown would be “infinitely better than passing a horrible bill.” His DOGE partner Vivek Ramaswamy urged Americans to contact their representatives to “stop the steal of your tax dollars.”
And President-elect Donald Trump posted this: “If Democrats threaten to shut down the government unless we give them everything they want, then CALL THEIR BLUFF,”.
Should the spending bill fail, it will mark a significant victory for DOGE and a potential turning point in efforts to reform Washington’s spending habits.
Business
Senator Introduces Bill To Send One-Third Of Federal Workforce Packing Out Of DC
From the Daily Caller News Foundation
By Harold Hutchison
Republican Sen. Joni Ernst of Iowa introduced legislation Thursday that would send nearly a third of the federal employees out of the Washington, D.C. metropolitan area.
The bill, known as the ‘Decentralizing and Reorganizing Agency Infrastructure Nation-wide To Harness Efficient Services, Workforce Administration, and Management Practices (DRAIN THE SWAMP) Act, is far more sweeping than the “Returning SBA to Main Street Act,” legislation introduced by Ernst Dec. 12 that focused on the Small Business Administration (SBA). Ernst told the Daily Caller News Foundation that the move would improve services for Americans while saving billions of taxpayer dollars.
“Federal employees don’t want to work in Washington, so why should taxpayers be footing the bill? By relocating at least 30% of the federal workforce, we will save billions and improve service for veterans, small businesses, and all Americans. The bureaucrat laptop class has been out of the office for far too long, and it is time to get them back to work for the American people,” Ernst told the Daily Caller News Foundation.
The legislation requires most government agencies to “promote geographic diversity, including consideration of rural markets” when relocating employees from the D.C. area and to “ensure adequate staffing throughout the regions of the Administration, to promote in-person customer service.” Exceptions are made for fewer than 10 agencies, most involved in national security, like the Department of Defense, Central Intelligence Agency, the Department of Homeland Security, and the Department of Energy.
The legislation also requires most federal agencies to reduce the total office space in their Washington, D.C., headquarters by at least 30% in a two-year timeframe following the bill’s enactment.
Ernst issued a 60-page report Dec. 5 that covered findings from Ernst’s investigations into telework since she sent an August 2023 letter to 24 government agencies requesting a review of the issues involved with telecommuting.
Previous investigations by Ernst into telecommuting by federal employees detailed the issues that telework created involving locality pay, an adjustment to the basic pay of civilian employees in the federal government intended to make sure that federal employees have comparable compensation to private-sector counterparts in a given area of the country. In the August 2023 letter sent to 24 government agencies requesting a review of the issues involved with telecommuting, Ernst cited a media account of a VA employee who attended a staff meeting while taking a bubble bath.
Ernst issued a 60-page report Dec. 5 that covered findings from her investigations into the issues involved with telecommuting by federal employees. Those findings detailed issues that telework created involving locality pay, an adjustment to the basic pay of civilian employees in the federal government intended to make sure that federal employees have comparable compensation to private-sector counterparts in a given area of the country.
In one case cited by the senator on multiple occasions, a United States Agency for International Development (USAID) employee received locality pay for the Washington, D.C., area despite living full-time in Florida. The employee in question retired before the conclusion of the probe, according to a summary posted on the USAID inspector general’s site April 30.
Ernst’s legislation mandates that affected federal agencies “ensure that the rate of pay of the employee is calculated based on the pay locality for the permanent duty station of the employee.”
The Office of Management and Budget did not immediately respond to a request for comment from the DCNF.
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