Net Zero: NDP’s Singh promises to end all oil and gas subsidies
NDP Leader Jagmeet Singh was in Montreal on Monday, where he discussed his party's environmental platform and vowed to end all subsidies for the oil and gas industry, if his party wins next month.
You might also be interested in
Governments are subsidizing the destruction of nature even as they promise to protect it
When dignitaries from 196 countries converge in Montreal next week to rub shoulders and hash out a new global agreement to save nature, money will be on the agenda.
The Strait of Hormuz Crisis Emphasizes Why Canada Should Move Away From Oil and Gas—Not Expand It
The closure of the Strait of Hormuz cut off roughly 25% of the world’s seaborne oil and 20% of LNG trade. In response, many countries are diversifying supply chains and increasingly ramping up domestic renewable capacity to improve energy security. Meanwhile, the Government of Canada has taken steps to expand oil and gas production.
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.