October 22, 2024
National NDP leader Jagmeet Singh earns a new mark for his business mathematics — though his subject is better called “mythematics.” He gets an F for his declaration that Cenovus Energy had record profits of $37 billion in 2023.
He began with this post on X (Twitter): “Last year, Cenovus raked in $37 billion in profits. And a whopping $64 billion in 2022. Big Oil is making record profits, burning the planet AND asking for massive public handouts. It’s time to end the free ride for oil and gas.”
Readers quickly hit back: “Per Cenovus’ own 2023 Financial Year report, profits were $4.11 billion CAD, down 36% from 2022. Mr. Singh conflates revenue (which includes no expenses, government fees, or taxes) with profit.”
Read More: https://energynow.ca/2024/10/ndp-leader-jagmeet-singhs-mythematical-numbers-earn-a-f-grade/