This is a news compilation setting the record straight on the day’s top stories about the oil and gas industry.
In Canada, oil and gas companies pay way more in taxes than any subsidy could balance.
- The Montreal Economic Institute among others has discredited these definitions of subsidies as being disingenuous and are meant to ensure neutral taxes across industries.
- Even if you counted tax measures like deferrals as subsidies, for every dollar paid in taxes the oil and gas industry oil only use $0.30 of tax measures. The lowest of Canada’s top 5 industries.https://context.capp.ca/infographics/2019/infographic_taxes-paid-versus-deductions
Here are some stories that get it right, or mostly right.
The Alberta Carbon Trunk Line system is described as the world’s largest capacity pipeline for CO2 from human activity and its capacity represents about 20 per cent of all current oilsands emissions. It is expected to remove 1.8 megatonnes of CO2 per year, or 339,000 vehicles. It has the long-term potential to remove 15 MT’s per year. This is another glaring example of the oil and gas industry tackling emissions despite what the anti-oil crowd thinks.
This is also another reason to tell your MP to support the oil and gas industry.
Send them a letter here: