Ottawa is expected to issue guidelines next week under which federal subsidies can still flow to Canadian oil and gas firms. Read on.
Environment Minister Steven Guilbeault is set to publish policy guidelines that will dictate the circumstances under which future federal investments can still flow to Canadian oil and gas firms.
The policy for international fossil fuel projects published in December barred any new, direct public financing for most “unabated fossil fuel investments,” meaning projects that don’t prevent greenhouse-gas emissions from ending up in the atmosphere. Canada has already eliminated nine different tax policies that benefited the oil and gas industry. There are differing opinions on what subsidies remain.
Advocacy group Environmental Defence argues more should be included in that number, such as the $10-billion loan guarantee Export Development Canada approved for the Trans Mountain pipeline expansion in 2022.Article content
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