"The science is clear: No new oil and gas fields, or the planet gets pushed past what it can handle," said one analyst.
Fossil fuel-producing countries late last year pledged to "transition away from fossil fuels," but a report on new energy projects shows that with the United States leading the way in continuing to extract oil and gas, governments' true views on renewable energy is closer to a statement by a Saudi oil executive Amin Nasser earlier this month.
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.
Gitanyow Lax’yip, March 14, 2024: Premier Eby’s push for the expansion of LNG development directly contradicts his promises on climate action, exacerbating the very crisis he claims to combat. The Gitanyow Hereditary Chiefs (GHC) condemn the Premier’s hypocrisy and dismissal of their plea to assess the impacts of the Ksi Lisims LNG project thoroughly.
Revenue from forestry has topped natural gas royalties in 12 of the past 13 fiscal years, but the sector will likely play a supporting tole in the foreseeable future with reduced timber supplies
The natural gas industry is poised to take centre stage in British Columbia’s economy and overtake the forestry sector as the largest contributor to the province’s resource revenue.
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.
