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Premier wants oil and gas companies to share profit gains or be taken to court

Last Updated Jul 4, 2019 at 4:29 pm PDT

Premier John Horgan speaks July 2, 2019 - Taran Parmar/NEWS 1130)
Summary

Premier John Horgan is threatening to use the courts to compel oil and gas companies to share their profit gains.

The larger companies have declined an initial request to share the information.

A report into gas prices is set to be released next week.

VANCOUVER (NEWS 1130) – Premier John Horgan is threatening to take oil and gas companies to court if they don’t reveal their profit gains.

He says after gas prices sharply spiked by 40 cents in just a few days, the public has a right to know why prices are so high in Metro Vancouver.

“If required, the commission can compel testimony. And if we end up in court over something like this, that tells another story,” says Horgan. “Dear oil and gas companies, why are you gouging British Columbians and not other Canadians?”

RELATED: Petroleum companies refuse to hand over data as BCUC investigates high gas prices

The BC Utilities Commission is reviewing the last four years of gas pricing in the province and has asked oil and gas companies to detail their profit margins.

“Many companies have, the larger companies have not. So, I know that the commission in its wisdom will find a way forward,” says Horgan. “I’m frustrated that the first bit of news I got coming back from Edmonton was that the oil companies didn’t want to give out information.”

A report into soaring gas prices will be released next week, followed by a four-day question period with industry representatives.