Confidential documents show taxpayers could be on the hook for a ‘fossil fuel subsidy’ to help supply electricity to LNG Canada, a consortium of some of the world’s most profitable oil and gas companies
The B.C. government wants taxpayers across Canada to pay half the $3-billion bill for a new electric transmission line supplying power to the province’s LNG industry, including projects owned by some of the world’s most profitable oil and gas companies, according to a confidential briefing note obtained by The Narwhal.
An important point that some of us have overlooked: Canada will come under increasing pressure to market fossil fuels to other nations to balance our trade accounts!!!
- Gene (Vancouver Ecosocialists)
In Canada, which is heavily trade-dependent, free trade has been popular for several decades. For Conservative or Liberal governments, inking a new pact was reflexively hailed as a big achievement.
As Canada experiences a record-shattering summer of deadly extreme weather, it’s worth remembering that our national pension fund has poured much of our retirement savings into the primary cause of the climate crisis: fossil fuels.
In doing so, the Canada Pension Plan Investment Board is also undermining its own purpose: to provide Canadians with retirement security by achieving a maximum rate of return without undue risk of loss. Fossil fuel industries, after all, must be rapidly phased out to ensure a safe climate future.
Oil, gas and coal benefited from $7tn in support in 2022 despite being primary cause of climate crisis
Fossil fuels benefited from record subsidies of $13m (£10.3m) a minute in 2022, according to the International Monetary Fund, despite being the primary cause of the climate crisis.
Hundreds of doctors, nurses and other Canadian health-care professionals have issued a public health advisory on the health harms of expanding B.C.'s fracking and natural gas infrastructure amidst the climate crisis.
Neoliberalism's relentless cheerleaders are largely unchallenged in their dangerous belief that capitalism's growth paradigm can be squared with sustainability. It may cost us the Earth
The debate about the climate crisis should have been settled in the early 1990s. And yet, three decades later, the extent, imminence and even existence of a looming catastrophe are still hotly disputed. That is not by accident.
