news
Overview:
- Canadian government fossil fuel subsidies could have funded all wind and solar projects 12 times over from 2019-2021
- Finance Minister urged to eliminate oil and gas financing in upcoming budget
- Canada provided $18 billion in fossil fuel subsidies in 2020, with $8 billion going to Trans Mountain pipeline expansion
- Report calls for windfall tax on oil and gas profits, similar to measures in European countries
Quotes:
- Fossil fuel subsidies from the Canadian government over the last four years would have been enough to fund all the country’s wind and solar projects 12 times over between 2019 and 2021, and twice as much as it would take to double transit ridership over the next dozen years, Environmental Defence Canada concludes in an analysis released last Wednesday.
- In 2020, a blistering analysis showed Canada leading the G20 countries in per capita public financing to oil and gas. Last summer, Oil Change International placed the total at $50 billion since 2019.
Read the full post at The Energy Mix.
