Mr. Speaker, gas prices hit $1.30 this weekend in northern Ontario, based on speculation that unrest in Libya would disrupt oil supplies. Despite the fact that Libya produces less than 4% of the world's oil, prices have jumped more than 10% at the pumps.
For consumers, it is a one-way street with a hill that keeps getting steeper, especially in northern Ontario. The problem for consumers will not be limited to the price at the pumps. When energy prices go up, everything else follows. Food, travel and transportation will cost more and the cost of heating homes will go up, again.
For many of us who are reeling from the shock of just how much the HST is cutting into the bottom line, this is only salt in the wound. Every week I hear from more people who are stretched to the limit and, still, the government refuses to act on solid New Democrat proposals that would help consumers deal with the high cost of energy. Now, more than ever, it is imperative to reduce the tax on home heating. It is also time to implement a nationwide regulatory agency to monitor the price of oil and gas and to have an ombudsman to protect consumers.