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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

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LetemEatCake Champion Author Oklahoma City Posts:5,596 Points:1,205,480 Joined:Mar 2008	Message Posted: Feb 8, 2013 11:27:00 PM Ignore LetemEatCake Report Abuse Nope T42...its not screeching you are hearing, it sounds more like a pig stuck under a gate!
teafortwo Champion Author Washington Posts:22,112 Points:1,385,965 Joined:Feb 2009	Message Posted: Feb 8, 2013 3:24:17 AM Ignore teafortwo Report Abuse 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 Posts:3,042 Points:701,380 Joined:May 2011	Message Posted: Feb 7, 2013 10:17:10 PM Ignore lesndave Report Abuse Hmmmm
PDQBlues Champion Author San Diego Posts:7,074 Points:1,448,325 Joined:Jan 2009	Message Posted: Feb 7, 2013 5:19:40 PM Ignore PDQBlues Report Abuse It's about time the US did the same.
SkooterG Champion Author Phoenix Posts:1,359 Points:328,585 Joined:May 2012	Message Posted: Feb 7, 2013 12:22:35 PM Ignore SkooterG Report Abuse Like the energy companies need subsidies.....
Costello Champion Author South Dakota Posts:1,411 Points:1,154,440 Joined:Jan 2007	Message Posted: Feb 7, 2013 9:11:14 AM Ignore Costello Report Abuse High profit industry anyway!!
bell05 Champion Author Atlanta Posts:9,255 Points:1,876,610 Joined:Jun 2005	Message Posted: Feb 7, 2013 7:49:49 AM Ignore bell05 Report Abuse 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 Posts:516 Points:100,150 Joined:Feb 2013	Message Posted: Feb 7, 2013 7:44:09 AM Ignore bell013 Report Abuse 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 Posts:1,926 Points:423,185 Joined:Feb 2012	Message Posted: Feb 7, 2013 7:42:04 AM Ignore isem Report Abuse This will also limit their pool of Political Contributors…
PTBpricer Champion Author Virginia Posts:1,509 Points:206,195 Joined:Jun 2012	Message Posted: Feb 7, 2013 7:34:22 AM Ignore PTBpricer Report Abuse USA could learn a lesson from our northern neighbors.
Gville Champion Author Ohio Posts:1,321 Points:1,123,325 Joined:Dec 2006	Message Posted: Feb 7, 2013 7:32:19 AM Ignore Gville Report Abuse So why does big oil in the US get such tax breaks?
85XJ Champion Author Toledo Posts:5,604 Points:1,280,765 Joined:Mar 2005	Message Posted: Feb 7, 2013 7:30:24 AM Ignore 85XJ Report Abuse Tax breaks should be inversely proportional to the profitability of the company.
atdinut Champion Author California Posts:1,608 Points:353,985 Joined:Apr 2012	Message Posted: Feb 7, 2013 7:29:41 AM Ignore atdinut Report Abuse Again, why do oil companies need subsidies?
Gman2011MI Champion Author Michigan Posts:2,003 Points:417,695 Joined:Apr 2011	Message Posted: Feb 7, 2013 7:20:03 AM Ignore Gman2011MI Report Abuse yah right
survken Champion Author Indiana Posts:2,487 Points:437,380 Joined:Jul 2010	Message Posted: Feb 7, 2013 7:17:37 AM Ignore survken Report Abuse Why do they need subsidies? Subsidies = votes in my mind.
Banjoe Champion Author Winnipeg Posts:4,252 Points:614,265 Joined:Apr 2011	Message Posted: Feb 7, 2013 7:15:54 AM Ignore Banjoe Report Abuse 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 Posts:1,879 Points:619,480 Joined:May 2006	Message Posted: Feb 7, 2013 7:15:29 AM Ignore Spetsnaz Report Abuse Interesting.
sailfreeMI Champion Author Michigan Posts:2,291 Points:458,575 Joined:Jul 2011	Message Posted: Feb 7, 2013 7:14:34 AM Ignore sailfreeMI Report Abuse We need to do the same.
Cuzilla Champion Author Indianapolis Posts:12,193 Points:2,349,320 Joined:Sep 2005	Message Posted: Feb 7, 2013 7:14:20 AM Ignore Cuzilla Report Abuse Gov't should not be subsidizing anyone, companies or individuals, PERIOD!
t_flor Champion Author Illinois Posts:2,305 Points:958,890 Joined:Jul 2008	Message Posted: Feb 7, 2013 7:13:56 AM Ignore t_flor Report Abuse Good for them...why should the government be involved in subsidies?
katmandue Champion Author Detroit Posts:8,071 Points:2,134,120 Joined:Jul 2006	Message Posted: Feb 7, 2013 7:13:38 AM Ignore katmandue Report Abuse we should do the same
Tnerbeel Champion Author Houston Posts:8,824 Points:1,748,835 Joined:Mar 2007	Message Posted: Feb 7, 2013 7:13:21 AM Ignore Tnerbeel Report Abuse Not sure but I'll bet they're not subsidizing Ethanol either
kyjlh Champion Author Kentucky Posts:1,622 Points:652,635 Joined:Feb 2005	Message Posted: Feb 7, 2013 7:13:08 AM Ignore kyjlh Report Abuse ok
Sam1004 Champion Author Indianapolis Posts:1,040 Points:347,410 Joined:May 2004	Message Posted: Feb 7, 2013 7:13:01 AM Ignore Sam1004 Report Abuse 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 Posts:4,413 Points:1,143,215 Joined:Oct 2009	Message Posted: Feb 7, 2013 7:12:15 AM Ignore SUV2009 Report Abuse 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 Posts:3,231 Points:1,116,015 Joined:Oct 2009	Message Posted: Feb 7, 2013 7:12:12 AM Ignore Ticobird Report Abuse 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 Posts:18,225 Points:3,070,960 Joined:May 2004	Message Posted: Feb 7, 2013 7:11:25 AM Ignore sivart Report Abuse Maybe the US will take notice!!! But we are a bunch of idiots down here!
Buck_on_Bass Champion Author Tennessee Posts:7,574 Points:1,456,060 Joined:Jul 2007	Message Posted: Feb 7, 2013 7:11:25 AM Ignore Buck_on_Bass Report Abuse On a per unit of energy produced, the alternate energy areas are getting much higher subsidies and incentives.
swede Champion Author Cleveland Posts:3,767 Points:1,676,000 Joined:Feb 2003	Message Posted: Feb 7, 2013 7:11:11 AM Ignore swede Report Abuse They have a huge surplus of crude right now so it does not surprise me.
jay93LA Champion Author New Orleans Posts:2,449 Points:599,710 Joined:Aug 2011	Message Posted: Feb 7, 2013 7:11:02 AM Ignore jay93LA Report Abuse corporate wefare
reb4 Champion Author Chicago Posts:19,113 Points:1,822,125 Joined:Sep 2004	Message Posted: Feb 7, 2013 7:10:16 AM Ignore reb4 Report Abuse they actually have the right idea... hard to believe...
METEOR49 Champion Author Ontario Posts:2,172 Points:455,225 Joined:Apr 2011	Message Posted: Feb 7, 2013 7:10:09 AM Ignore METEOR49 Report Abuse oil companies are like bloodsuckers , time to throw some salt on them .
miser73 Champion Author Gary Posts:1,183 Points:241,340 Joined:Apr 2012	Message Posted: Feb 7, 2013 7:08:39 AM Ignore miser73 Report Abuse 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 Posts:1,843 Points:649,460 Joined:May 2011	Message Posted: Feb 7, 2013 7:08:19 AM Ignore MustangRacing Report Abuse The US needs to stop subsidizing wind & Solar. It's wasted & corrupt money.
exd121 Champion Author Ottawa Posts:1,822 Points:465,475 Joined:Sep 2010	Message Posted: Feb 7, 2013 7:07:49 AM Ignore exd121 Report Abuse ok
Beboper Champion Author Virginia Posts:8,727 Points:2,163,790 Joined:Oct 2005	Message Posted: Feb 7, 2013 7:06:36 AM Ignore Beboper Report Abuse gas prices going up
RangerBob58 Champion Author Dayton Posts:3,117 Points:662,750 Joined:Apr 2011	Message Posted: Feb 7, 2013 7:06:16 AM Ignore RangerBob58 Report Abuse OK
jimraehl Champion Author Utah Posts:7,064 Points:1,636,590 Joined:Sep 2008	Message Posted: Feb 7, 2013 7:05:37 AM Ignore jimraehl Report Abuse OK
pmc3 Champion Author Missouri Posts:3,599 Points:1,023,890 Joined:Mar 2010	Message Posted: Feb 7, 2013 7:05:23 AM Ignore pmc3 Report Abuse With the PRFITS Big Oil is making, WE need to STOP ALL SUBSIDIES too!!!!
I10Express Champion Author San Antonio Posts:8,669 Points:1,639,970 Joined:Nov 2008	Message Posted: Feb 7, 2013 7:04:53 AM Ignore I10Express Report Abuse 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 Posts:1,148 Points:232,820 Joined:Feb 2012	Message Posted: Feb 7, 2013 7:04:27 AM Ignore W4YAH Report Abuse Wow!! Reducing subsidies!!
deerslayer5 Champion Author Minnesota Posts:3,005 Points:656,310 Joined:Apr 2011	Message Posted: Feb 7, 2013 7:03:30 AM Ignore deerslayer5 Report Abuse Ok
Ltdc Champion Author Long Island Posts:7,215 Points:1,677,870 Joined:Jul 2007	Message Posted: Feb 7, 2013 7:03:22 AM Ignore Ltdc Report Abuse Maybe they have better things to do with tax payer money.
JWHITE1937 Champion Author Massachusetts Posts:2,524 Points:997,005 Joined:Aug 2006	Message Posted: Feb 7, 2013 7:03:02 AM Ignore JWHITE1937 Report Abuse Canada leads the way!
fltdoc Champion Author Oklahoma Posts:8,880 Points:1,555,720 Joined:Oct 2008	Message Posted: Feb 7, 2013 7:01:42 AM Ignore fltdoc Report Abuse $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 Posts:5,135 Points:1,366,610 Joined:Jul 2007	Message Posted: Feb 7, 2013 7:00:58 AM Ignore lkozark Report Abuse Subsidies to Pig-Oil are just payback for political campaign contributions, plus interest!
bondo Champion Author Twin Cities Posts:3,511 Points:762,760 Joined:May 2001	Message Posted: Feb 7, 2013 7:00:31 AM Ignore bondo Report Abuse They have drunk the Kool-Aid.
SqrKpf Champion Author Toronto Posts:1,925 Points:389,585 Joined:Oct 2010	Message Posted: Feb 7, 2013 7:00:27 AM Ignore SqrKpf Report Abuse ok
ricebike Champion Author New Jersey Posts:10,032 Points:1,855,720 Joined:Oct 2005	Message Posted: Feb 7, 2013 6:58:43 AM Ignore ricebike Report Abuse so this will increase gas prices?
nicemac Sophomore Author Tennessee Posts:241 Points:406,550 Joined:Dec 2011	Message Posted: Feb 7, 2013 6:58:40 AM Ignore nicemac Report Abuse they should cut subsidies for all industries.