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

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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We’ve got big plans for 2024
Seeking out climate solutions, big and small. Investigating the influence of oil and gas lobbyists. Holding leaders accountable for protecting the natural world.

The Narwhal’s reporting team is busy unearthing important environmental stories you won’t read about anywhere else in Canada. And we’ll publish it all without corporate backers, ads or a paywall.

How? Because of the support of a tiny fraction of readers like you who make our independent, investigative journalism free for all to read.

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