There is No Excusing the Multi-Billions of Dollars of Subsidies Trudeau and his Liberal MP Puppets Continue to Pour In to the Filth of the Tar Sands
Yet What’s Another Wildfire, Drought or Flood to Canada’s Big Oil Liberals?
A Statement from Environmental Defence Canada, a nation-wide advocacy group for our Mother Earth
Posted August 9th, 2022 on Niagara At Large
A Brief Foreword from Doug Draper, journalist and publisher of Niagara At Large –
I am getting sick and tired of the bullshit (sorry, or maybe not so sorry for the language) we have been getting from Liberal Prime Minister Justin Trudeau and his dutiful MPs over the past six or seven years on how much they care about the climate change crisis.
While we now watch U.S. President Joe Biden on the verge of signing a historic bill that will pour hundreds of billions of dollars into green energy projects, we have Trudeau and the minions who follow him continuing to pour billions of dollars in subsidies – Canadians’ tax money- into a big oil/tar sands industry that this year has seen its profits spike three or four times above what corporations like Suncor were making this time last year.
Not a peep out of any of them …. Liberal MP Vance Badawey in Niagara Centre, Chris Bittle in St. Catharines ….not one of them. What in hell are they afraid of? A weak leader on the climate file like Justin Trudeau?
Not one of them speaking for our children’s future and about these obscene subsidies and soaring costs for the Trans Mountain tar sands pipeline, or about the price gouging by oil companies that is hurting so many middle and lower income Canadians.
So I guess Canada will sit back and let the United States become a leader in the green energy field while we continue to drown in the tar sands.
Doug Draper, Niagara At Large
Now here is the Statement from Environmental Defence –
A Statement from Keith Brooks, Programs Director, Environmental Defence, on Canada’s oil companies reporting $12 billion in Q2 profits
Ottawa | Traditional, unceded territory of the Algonquin Anishinaabeg People – While communities are experiencing the climate crisis firsthand, with heatwaves and wildfires raging across the globe, Canada’s biggest oil and gas companies say they can’t even meet the federal government’s modest 2030 greenhouse gas emissions reduction targets.
At the same time, Canada’s biggest oil and gas companies are profiting tremendously from the crisis in Ukraine: they have made $12 billion in profits in the last quarter. It is unacceptable that these same wealthy companies continue to block climate action and lobby for even moresubsidies, on top of the billions they already receive.
Canadian governments should not cave to the industry’s demands. Governments around the world haveimplemented windfall taxes, it is crucial that the Government of Canada do the same.
ABOUT ENVIRONMENTAL DEFENCE (environmentaldefence.ca): Environmental Defence is a leading Canadian environmental advocacy organization that works with government, industry and individuals to defend clean water, a safe climate and healthy communities.
* Second quarter (Q2) financial results for Canada’s largest oil companies have recently been announced. The combined profits (net earnings) of the biggest four are over $12 billion:
* Suncor $3.996 billion
* CNRL $3.502 billion
* Imperial Oil $2.409 billion
* Cenovus $2.432 billion
* This represents a major increase from Q2 in 2021 (Suncor net earnings were$868 million, CNRL $1.551 billion, Imperial Oil $366 million, Cenovus $1.365 billion), which totalled $4.15 billion
* This increase in profits from Q2 2021 to Q2 2022 is almost threefold.
* The oil and gas sector is Canada’s largest and fastest growing source of greenhouse gas emissions, contributing 26% of Canada’s total emissions. Over the past 30 years, sector emissions have grown 87%, even as other industrieshave reduced emissions.
* After these earnings were announced, the federal government was asked if itwould institute a windfall profits tax and said no, according to CBC.ca [https://www.cbc.ca/news/politics/oil-and-gas-profits-excess-tax-vulnerable-people-un-secretary-general-1.6542626] .
* After years of promises from the oil & gas industry that it can reduce emissions from production, the industry now says it cannot meet thegovernment’s targets and timelines, and are asking for more time and/or moresubsidies to reduce emissions, according to CBC.ca
* Running List of Federal Fossil Fuel Subsidies in Canada in 2022 https://environmentaldefence.ca/federal-fossil-fuel-subsidies-tracking/] , compiled by Environmental Defence
* A letter from 86 civil society and grassroots organizations
[https://climateactionnetwork.ca/2022/03/25/86-organizations-call-on-trudeau-to-establish-windfall-tax-on-soaring-oil-and-gas-profits-redouble-climate-efforts/] to Prime Minister Justin Trudeau in March, calling on him to impose a windfall tax on soaring oil and gas profits and to stand firm and redouble efforts on climate action in the face of profiteering attempts from the fossil fuel lobby.
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