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Canada set to cut direct spending on fossil fuel sector

yahoo.com -- Canada's federal government is set to sharply cut back its direct spending on the fossil fuel sector as part of an international push to phase out subsidies, the government's environment watchdog said on Tuesday.

Environment Commissioner Scott Vaughan said direct spending on the sector by the federal government totaled C$508 million ($508 million) from the 2007/08 fiscal year to 2011/12. It was Vaughan's first calculation of the total amounts Ottawa gives to energy companies.

"Extended over 30 years, this would represent a significant decline in direct spending support to the sector," he said, noting an official report in 2000, which found direct spending from 1970 to 1999 totaled C$40.4 billion.

Tax breaks aimed directly at the fossil fuel sector for 2006/07 to 2010/11 totaled C$


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Submitted Feb 07, 2013 By: teafortwo
Category: Daily News Article Discussions > Topics Add to favorite topics  
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Feb 8, 2013 11:27:00 PM


Nope T42...its not screeching you are hearing, it sounds more like a pig stuck under a gate!
teafortwo
Champion Author Washington

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Message Posted: Feb 8, 2013 3:24:17 AM


Subsidies in the form of tax breaks, etc were initially designed starting over a hundred years ago, to help a new and struggling industry get established ....

That ship sailed long ago.

Time to get the oil & gas industries off the government programs.

There are other needs much more pressing.

(Pay no attention to that screeching noise. That is just the lament of industry shills)

lesndave
Champion Author Texas

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Message Posted: Feb 7, 2013 10:17:10 PM

Hmmmm
PDQBlues
Champion Author San Diego

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Message Posted: Feb 7, 2013 5:19:40 PM


It's about time the US did the same.
SkooterG
Champion Author Phoenix

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Message Posted: Feb 7, 2013 12:22:35 PM

Like the energy companies need subsidies.....
Costello
Champion Author South Dakota

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Message Posted: Feb 7, 2013 9:11:14 AM

High profit industry anyway!!
bell05
Champion Author Atlanta

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Message Posted: Feb 7, 2013 7:49:49 AM

Copied from below:

I would think, after all this time and the fact that it is well established, that there shouldn't be any subsidies for this industry.

And 85XJ, you are right on!
bell013
All-Star Author Atlanta

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Message Posted: Feb 7, 2013 7:44:09 AM

Copied from below:

I would think, after all this time and the fact that it is well established, that there shouldn't be any subsidies for this industry.

And 85XJ, you are right on!
isem
Champion Author Missouri

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Message Posted: Feb 7, 2013 7:42:04 AM

This will also limit their pool of Political Contributors…
PTBpricer
Champion Author Virginia

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Message Posted: Feb 7, 2013 7:34:22 AM

USA could learn a lesson from our northern neighbors.
Gville
Champion Author Ohio

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Message Posted: Feb 7, 2013 7:32:19 AM

So why does big oil in the US get such tax breaks?
85XJ
Champion Author Toledo

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Message Posted: Feb 7, 2013 7:30:24 AM

Tax breaks should be inversely proportional to the profitability of the company.
atdinut
Champion Author California

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Message Posted: Feb 7, 2013 7:29:41 AM

Again, why do oil companies need subsidies?
Gman2011MI
Champion Author Michigan

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Message Posted: Feb 7, 2013 7:20:03 AM

yah right
survken
Champion Author Indiana

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Message Posted: Feb 7, 2013 7:17:37 AM

Why do they need subsidies?

Subsidies = votes in my mind.
Banjoe
Champion Author Winnipeg

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Message Posted: Feb 7, 2013 7:15:54 AM

I would think, after all this time and the fact that it is well established, that there shouldn't be any subsidies for this industry.
Spetsnaz
Champion Author Dayton

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Message Posted: Feb 7, 2013 7:15:29 AM

Interesting.
sailfreeMI
Champion Author Michigan

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Message Posted: Feb 7, 2013 7:14:34 AM

We need to do the same.
Cuzilla
Champion Author Indianapolis

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Message Posted: Feb 7, 2013 7:14:20 AM

Gov't should not be subsidizing anyone, companies or individuals, PERIOD!
t_flor
Champion Author Illinois

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Message Posted: Feb 7, 2013 7:13:56 AM

Good for them...why should the government be involved in subsidies?
katmandue
Champion Author Detroit

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Message Posted: Feb 7, 2013 7:13:38 AM

we should do the same
Tnerbeel
Champion Author Houston

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Message Posted: Feb 7, 2013 7:13:21 AM

Not sure but I'll bet they're not subsidizing Ethanol either
kyjlh
Champion Author Kentucky

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Message Posted: Feb 7, 2013 7:13:08 AM

ok
Sam1004
Champion Author Indianapolis

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Message Posted: Feb 7, 2013 7:13:01 AM

Wait 'til the oil companies start cutting back and raising prices again and see how that tax break cut plan falls apart!
SUV2009
Champion Author Orlando

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Message Posted: Feb 7, 2013 7:12:15 AM

Yes and now that will mean that the public will just have to pay more to these energy companies as they look to makeup this loss.
Ticobird
Champion Author Huntsville

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Message Posted: Feb 7, 2013 7:12:12 AM

When a government intervenes in an industry with direct spending for some set of reasons there should always be a cessation clause written into the legislation. This artificial support distorts the industry's relationship with its related competition and sometimes its influence extends far further than intended as well as longer than necessary.
sivart
Champion Author Arkansas

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Message Posted: Feb 7, 2013 7:11:25 AM

Maybe the US will take notice!!! But we are a bunch of idiots down here!
Buck_on_Bass
Champion Author Tennessee

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Message Posted: Feb 7, 2013 7:11:25 AM

On a per unit of energy produced, the alternate energy areas are getting much higher subsidies and incentives.
swede
Champion Author Cleveland

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Message Posted: Feb 7, 2013 7:11:11 AM

They have a huge surplus of crude right now so it does not surprise me.
jay93LA
Champion Author New Orleans

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Message Posted: Feb 7, 2013 7:11:02 AM

corporate wefare
reb4
Champion Author Chicago

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Message Posted: Feb 7, 2013 7:10:16 AM

they actually have the right idea... hard to believe...
METEOR49
Champion Author Ontario

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Message Posted: Feb 7, 2013 7:10:09 AM

oil companies are like bloodsuckers , time to throw some salt on them .
miser73
Champion Author Gary

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Message Posted: Feb 7, 2013 7:08:39 AM

Why would that industry have needed subsidies in the first place? Maybe 100 years ago, but it should have ended long, long ago.
MustangRacing
Champion Author Virginia

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Message Posted: Feb 7, 2013 7:08:19 AM

The US needs to stop subsidizing wind & Solar. It's wasted & corrupt money.
exd121
Champion Author Ottawa

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Message Posted: Feb 7, 2013 7:07:49 AM

ok
Beboper
Champion Author Virginia

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Message Posted: Feb 7, 2013 7:06:36 AM

gas prices going up
RangerBob58
Champion Author Dayton

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Message Posted: Feb 7, 2013 7:06:16 AM

OK
jimraehl
Champion Author Utah

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Message Posted: Feb 7, 2013 7:05:37 AM

OK
pmc3
Champion Author Missouri

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Message Posted: Feb 7, 2013 7:05:23 AM

With the PRFITS Big Oil is making, WE need to STOP ALL SUBSIDIES too!!!!
I10Express
Champion Author San Antonio

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Message Posted: Feb 7, 2013 7:04:53 AM

They could fund Solyndra for a year with that much money. I guess Solyndra would have to be bankrupt for the first 9 years it would take to save it.
W4YAH
Champion Author Florida

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Message Posted: Feb 7, 2013 7:04:27 AM

Wow!! Reducing subsidies!!
deerslayer5
Champion Author Minnesota

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Message Posted: Feb 7, 2013 7:03:30 AM

Ok
Ltdc
Champion Author Long Island

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Message Posted: Feb 7, 2013 7:03:22 AM

Maybe they have better things to do with tax payer money.
JWHITE1937
Champion Author Massachusetts

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Message Posted: Feb 7, 2013 7:03:02 AM

Canada leads the way!
fltdoc
Champion Author Oklahoma

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Message Posted: Feb 7, 2013 7:01:42 AM

$508 million is a drop in the bucket. Obama gave more of the taxpayers money to bankrupt Solyndra than that and it didn't produce ANYTHING, except a payoff by Obama to his supporters. In essence, Obama simply used the taxpayers money to pay back his supporters, who promptly declared bankruptcy, AFTER lining their own pockets with that money. 1/2 billion dollars in the oil industry is chump change. In fact, Obama held up BP for forty times that amount as a down payment on the Gulf oil spill ($20 billion).

[Edited by: fltdoc at 2/7/2013 8:03:08 AM EST]
lkozark
Champion Author Missouri

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Message Posted: Feb 7, 2013 7:00:58 AM

Subsidies to Pig-Oil are just payback for political campaign contributions, plus interest!
bondo
Champion Author Twin Cities

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Message Posted: Feb 7, 2013 7:00:31 AM

They have drunk the Kool-Aid.
SqrKpf
Champion Author Toronto

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Message Posted: Feb 7, 2013 7:00:27 AM

ok
ricebike
Champion Author New Jersey

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Message Posted: Feb 7, 2013 6:58:43 AM

so this will increase gas prices?
nicemac
Veteran Author Tennessee

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Message Posted: Feb 7, 2013 6:58:40 AM

they should cut subsidies for all industries.
EMoe57
Champion Author Jacksonville

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Message Posted: Feb 7, 2013 6:58:27 AM

If only we could count on ALL governments to do this, the market would be in better shape.
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