A new report by Environmental Defence, an advocacy organization, found that the federal government announced almost $18 billion in support to the oil and gas industry in 2020, despite promising to phase out fossil-fuel subsidies. (The Logic)
A new report by Environmental Defence, an advocacy organization, found that the federal government announced almost $18 billion in support to the oil and gas industry in 2020, despite promising to phase out fossil-fuel subsidies. (The Logic)
A new report by Environmental Defence, an advocacy organization, found that the federal government announced almost $18 billion in support to the oil and gas industry in 2020, despite promising to phase out fossil-fuel subsidies. (The Logic)
Talking point: Environmental Defence found an additional $15.35 billion in announced spending—much of it for cleantech programs—that could go to the oil and gas industry. The organization argued that even spending meant to improve environmental outcomes amounts to fossil-fuel subsidies if the money goes to oil and gas companies, because they should be responsible for the cost of reducing emissions, rather than passing it along to taxpayers. The report found much of the spending went through Export Development Canada. In a statement to The Logic, the Crown corporation said it’s reduced support to the industry “in recent years,” which is provided through financing and insurance solutions, rather than subsidies. EDC’s spokesperson also called oil and gas companies “important” cleantech-sector partners.
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