Why Does Canada Give Tax Breaks to the World’s Richest Polluters?

By admin

Nov. 13, 2014 1 min. read

This article is more than 10 years old

A really great analysis just posted by CBC's Senior Business Producer, Don Pittis, looks at why Canada (read: taxpayers) is subsidizing oil companies to the tune of $34 billion.

All this money is being spent on some of the world's richest companies to find more oil, which will subsequently pump more greenhouse gas emissions into our air — a viscious cycle that we as taxpayers are actively promoting with our own hard-earned money.

As Pittis writes:

"Despite saying one thing while doing another, the annoying part for people like me — who believe that the forces of economics are beneficial — is that these multibillion-dollar global subsidies subvert the market. They give false signals about how much we as a society should invest in an industry that many say is endangering the health of our planet."

You can read the entire article here: Why your taxes pay to make climate change worse.

Photo: Kris Krug via Flickr

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