[lbo-talk] The vast scale of government support for dirty energy

Marv Gandall marvgand2 at gmail.com
Sat Aug 17 11:17:47 PDT 2019

The article details the billions of Canadian taxpayer dollars which continue to be funnelled to the fossil fuel industry - billions which could be directed instead towards green energy, healthcare, housing, transportation, education, and other public goods and services, leading to the creation of hundreds of thousands of new jobs, including for displaced tar sands workers.

“Yet Canadian governments continue to pour about $3.3 billion annually…into direct support for an industry whose business model entails knowingly jeopardizing the habitability of the planet.”

Further, these “direct handouts are a small part of a much bigger picture. The International Monetary Fund adopts a broader definition of 'subsidy' to include the untaxed externalized costs of energy use, including air pollution, traffic congestion and climate disruption. (One could add the cleanup costs of abandoned gas and oil wells, which the Alberta energy regulator has estimated at $47 to 70 billion.)"

“In 2015, the IMF estimated global subsidies to fossil fuels at a stunning $4.7 trillion annually (6.5 per cent of global GDP), including $58 billion from Canada, making coal, oil and gas companies arguably the world's biggest corporate-welfare recipients."


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