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
Get the inside scoop on The Narwhal’s environment and climate reporting by signing up for our free newsletter. A Canadian government-owned energy company is defending...
Continue reading
Previously administered by Canada, Indigenous nations faced long waits for approval and cumbersome applications. The...
The last open-net pen salmon farms in B.C. must shut down by July 2029. Environmental...
Decades of research show the Ontario government's plans to reduce gridlock won’t work. But they...
