Canada’s federal NDP leader made an elementary economic gaffe in confusing the terms “revenue” and “profit” while complaining about how much Cenovus “raked in.”
The Canadian integrated oil and natural gas company Cenovus Energy earned $52.20 billion in revenue and $4.109 billion in net profit in 2023.
Yet NDP leader Jagmeet Singh falsely stated on social media that Cenovus took in $37 billion in profits, leading to him getting community noted on X.
“Mr. Singh conflates revenue (which includes no expenses, government fees, or taxes) with profit,” the correction note reads.
Despite the community note, Singh has not deleted or corrected his post.
Humiliation ensues
“Is @theJagmeetSingh the stupidest man in the Western political world? It’s a hard contest, but he’s a real contender,” said Dr. Jordan Peterson.
Rebel News’s Editor-in-Chief, Ezra Levant, stated, “He doesn’t understand the difference between revenue and profit. And no-one else in his communications team does, either. Not a single person around him has run a business, or bothered to learn about one.”
“Daft Jaggy and his band of delusional of the @NDP, New Delusional Party don’t know the difference between ‘revenue’ and ‘profits’. They are only good at spending other people’s money, never had to work for money in their lives,” said another social media user, Guuseh Kay.
