The federal government continues to give billions of dollars in tax breaks to the companies producing oil and gas in Canada. Analysis shows a total of $1.4 billion per year in federal subsidies, $840 million of which are special tax breaks, with a disproportionate share going to dirty fuels such as the Alberta Tar Sands.
Lets take action and ensure the government stops these irresponsible tax-breaks in 2011!
5. See who supports and end to handouts to big oil by checking out the Open-Letter
IISD full report: Untold billions: Government support for upstream oil activities in three Canadian provinces
End subsidies for dirty fuels!
Canadian companies in the business of extracting oil made billions of dollars in profit last year. So why does our government annually give the fossil fuel industry $1 billion?
If lawmakers in Ottawa are looking for ways to reduce spending, it seems that subsidies to the oil, coal and gas industries are the best place to start.
Scientists are warning that we face disastrous consequences unless we reduce greenhouse gas emissions that come from burning fossil fuels. By subsidizing the fossil fuel industry, the Canadian government is delaying the conversion to clean energy that’s needed to stabilize the Earth’s climate.
Canadian taxpayers should not be giving money to highly profitable corporations. When the federal government passes a new budget in March, these subsidies for dirty fuels must come to an end. By doing so, Canada will meet its 2009 commitment made in Pittsburgh, along with other G20 leaders, to phase out subsidies and tax breaks to companies producing oil, gas and coal.
The federal government provides about $1.38 billion per year to subsidize oil production.
The counter began on September 25, 2009, the day that Prime Minister Harper formally committed to start phasing out subsidies to fossil fuels at the G20 in Pittsburgh (the day the G20 Communique was released).
$1.38 billion per year means:
* $3,780,822 per day.
* $157,534 per hour.
* $2,625.57 per minute.
* $43.76 per second.