Critics want Trudeau to dump oil and gas fund
Green Party MPs and environmental groups say a financial relief program for onshore oil and gas companies should be scrapped after a scathing report by Canada’s climate watchdog was released Thursday.
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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)
Environment and Climate Minister Steven Guilbeault has unveiled detailed plans to phase out "inefficient" oil and gas subsidies, based on guidelines released yesterday morning that take effect immediately and are meant to fulfill a 14-year-old pledge by G20 countries.
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.