Quebec has passed a new tax on energy producers. They expect it to raise 189 million dollars US. They also expect that the producers will not pass on the costs to consumers.
[Natural Resources Minister Claude Bechard] said he expects that the companies will absorb the higher costs, though he "can't guarantee'' that producers and refiners won't pass them on to consumers. "I don't think that we will put any pressure on the gas price,'' he said.
This is a very confident man. I bet that confidence really helps Bechard with the ladies. I can see him now, rolling up in a club, casually mentioning "I expect that the costs will not be passed on to consumers." The ladies at the bar will be swooning around him, whispering to each other in admiration, "He is so confident, I love that in a man!" Bechard will nod his head, share a knowing look with the bartender, and the other men in the room will know they are each a distant second.
At least that's what happens when I walk in a bar.
HT Greg Mankiw
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