The federal government provided at least $18.5 billion to the fossil fuel and petrochemical industries last year, according to a new report by Environmental Defence.
The largest single subsidy was to Trans Mountain, which benefited from $8 billion in loan guarantees to try to get its nearly completed $35-billion pipeline expansion project to the finish line.
Despite commitments to align their portfolios with net-zero emissions, Canada’s largest banks are increasingly financing fossil fuel companies and pushing their decarbonization goals out of reach.
While the world burns, conservative governments in both Alberta and Ontario continue to spend billions hiding and protecting their failed hydro deregulation schemes. This is money that should be spent combatting the climate crisis.
I’m listening to John Coltrane through my headphones as I type, in an effort to stay calm enough that I don’t just start sputtering. You might want to do likewise as you read.
Western provinces are selling fracked gas as a global climate solution. But experts across the Pacific say that’s ‘outdated’ and inaccurate.
Oil and gas companies have for years marketed fracked gas from B.C. as a global climate solution, with some industry boosters even going so far as to call Canada’s supply of the fossil fuel the “cleanest in the world.”
