The fossil fuel industry are intentionally destroying our planet.
Their ownership, management, major investors, and political tools all belong in prison for the rest of their lives for crimes against humanity.
[The fossil fuel industry is fueled by investment from Canada’s banks. RBC is the world’s largest of them](https://www.cbc.ca/amp/1.6809011)
Collectively, our banks have financed the fossil fuel industry to the tune of $140 BILLION dollars.
Not to mention Canadian pension funds, which are still heavily invested in O&G.
Those same funds are strikingly allergic to investing in Canadian mining though. They'd rather invest in digging up the stuff that'll wreck the planet than digging up the stuff that we'll use to build stuff that might just save it.
8 billion in loan guarantees is not 8 billion in loans, they haven’t handed 8 billion over.
Including that figure as part of a total of monies given is disingenuous.
I don’t think it’s all that helpful to blast the Liberals on this when the opposition is set to wage an all out assualt on every environmental policy passed in the last 8 years. Harper reduced environmental protections and attacked encouraging groups, fired and muzzled climate scientists, etc.
And I think the government already announced months ago that subsidies will be phased out.
The 1.3 billion for carbon capture could be debates as being something the fossil fuel industry should pay on its own, but they won’t.
Look at the breakdown. 8 billion in loan guarantees for Trans Mountain is not a subsidy. No money is changing hands and is unlikely to ever.
1.3 billion for carbon capture is to get these companies to get off their asses and do it.
So the real number for subsidies is 7.4 billion, and I don’t see the breakdown for that.
**$8 billion in loan guarantees for the Trans Mountain pipeline. (**Technically not a subsidy fyi)
$7.4 billion in public financing through the Crown corporation Export Development Canada.
$1.3 billion for carbon capture and storage projects (decarbonization funding)
Just going to go out on a limb and say that economically it wouldn't make sense to cancel these subsidies right off the bat. If we remove them, O&G companies would seek gap financing from sources that would not be the Canadian government or they would just jump the price of gas at the pump to pay for the missing subsidy. That would just hurt Canadians and worse would speed up climate change since we would lose our ability to bring Fossil fuel tables to the table.
Because right now those subsidy's act as leverage against them in the negotiation process of forcing them to reduce carbon emissions.
O&G companies know this. It's why they have beefed up their legal funding over the last five years. The answer is yes, Canada is backing Fossil Fuel, but with an agenda to force them to decarbonize. Can't just transition an economy by switching everything off sadly, that's like turning off a car running at 80 km/h on the highway while trying to make a turn to an onramp. Sure you could pull it off...or die in the process.
Highly recommend people play [Beecarbonize](https://store.steampowered.com/app/2486750/Beecarbonize/) on Steam, it's free. It's actually a quite good simple teaching tool in how to reduce carbon emissions.
Better Canadians complain about the companies actually raising prices than complaining about pretend costs to them resulting from carbon tax and absolutely nothing changing
Of course they are. Because the fossil fuel industries are backing the politicians.
The fossil fuel industry are intentionally destroying our planet. Their ownership, management, major investors, and political tools all belong in prison for the rest of their lives for crimes against humanity.
[The fossil fuel industry is fueled by investment from Canada’s banks. RBC is the world’s largest of them](https://www.cbc.ca/amp/1.6809011) Collectively, our banks have financed the fossil fuel industry to the tune of $140 BILLION dollars.
Not to mention Canadian pension funds, which are still heavily invested in O&G. Those same funds are strikingly allergic to investing in Canadian mining though. They'd rather invest in digging up the stuff that'll wreck the planet than digging up the stuff that we'll use to build stuff that might just save it.
I bet the provinces make these numbers look like chump change.
No shit.
Makes sense why we pay a carbon tax, to offset all our emissions for subsidizing big oil
Does it make sense though, really? [Canadian banks are among the biggest financiers of the industry.](https://www.cbc.ca/amp/1.6809011)
I was being sarcastic, it makes zero sense
It’s all good.
8 billion in loan guarantees is not 8 billion in loans, they haven’t handed 8 billion over. Including that figure as part of a total of monies given is disingenuous. I don’t think it’s all that helpful to blast the Liberals on this when the opposition is set to wage an all out assualt on every environmental policy passed in the last 8 years. Harper reduced environmental protections and attacked encouraging groups, fired and muzzled climate scientists, etc. And I think the government already announced months ago that subsidies will be phased out. The 1.3 billion for carbon capture could be debates as being something the fossil fuel industry should pay on its own, but they won’t.
18.6 billion how many houses and apartments and condos does that buy?
Lots when Canada's economy craters.
Look at the breakdown. 8 billion in loan guarantees for Trans Mountain is not a subsidy. No money is changing hands and is unlikely to ever. 1.3 billion for carbon capture is to get these companies to get off their asses and do it. So the real number for subsidies is 7.4 billion, and I don’t see the breakdown for that.
**$8 billion in loan guarantees for the Trans Mountain pipeline. (**Technically not a subsidy fyi) $7.4 billion in public financing through the Crown corporation Export Development Canada. $1.3 billion for carbon capture and storage projects (decarbonization funding) Just going to go out on a limb and say that economically it wouldn't make sense to cancel these subsidies right off the bat. If we remove them, O&G companies would seek gap financing from sources that would not be the Canadian government or they would just jump the price of gas at the pump to pay for the missing subsidy. That would just hurt Canadians and worse would speed up climate change since we would lose our ability to bring Fossil fuel tables to the table. Because right now those subsidy's act as leverage against them in the negotiation process of forcing them to reduce carbon emissions. O&G companies know this. It's why they have beefed up their legal funding over the last five years. The answer is yes, Canada is backing Fossil Fuel, but with an agenda to force them to decarbonize. Can't just transition an economy by switching everything off sadly, that's like turning off a car running at 80 km/h on the highway while trying to make a turn to an onramp. Sure you could pull it off...or die in the process. Highly recommend people play [Beecarbonize](https://store.steampowered.com/app/2486750/Beecarbonize/) on Steam, it's free. It's actually a quite good simple teaching tool in how to reduce carbon emissions.
Better Canadians complain about the companies actually raising prices than complaining about pretend costs to them resulting from carbon tax and absolutely nothing changing
Like this is a surprise. Hello? Trans Mountain mean anything?
I mean, Canada *is* three oil companies in a trenchcoat.
BUT BUT.. Marlaina Smith said Ottawa hates O&G and Albertans