BC's Fossil Fuel Subsidies Are Second Highest in Canada
The B.C. government handed out $1.3 billion in fossil fuel subsidies over the past two fiscal years, according to a new report by the International Institute for Sustainable Development, an independent think tank.
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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)
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Canada to Cut Oil & Gas Subsidies
The Canadian federal government has implemented a framework to revoke subsidies for fossil fuels that are deemed inefficient. However, the framework lacks details on the specific subsidies to be eliminated and does not provide a dollar amount for the cuts. Canada, as the fourth-largest oil producer in the world, is the first country to comply with a 2009 pledge made by the Group of Twenty (G20) nations. The government plans to exempt oil and gas projects that have plans to reduce emissions and utilize carbon capture and storage (CCS) technology. Federal Environment Minister Steven Guilbeault stated that the objective is for federal support to be directed only towards projects that decarbonize the sector and result in significant greenhouse gas emissions reductions.