Friday, March 23, 2012

OIl and Gas subsidies do so exist!

March 23, 2012
Re: Oil and gas industry does not receive federal subsidies by Tom Huffaker of the Canadian Association of Petroleum Producers.

I checked the facts in this article and found that the Greenpeace sponsored report being dis-credited is in fact a report on the economic effect of subsidies not on the existence of subsidies. 63 subsidies in total in the form of tax breaks and reduced royalties are mostly intended to increase exploration and development . The Canadian federal gov't provided 1.38 billion and provinces shared the balance of the total of 2.84 billion last year. There is no disputing these facts in either competing report. The study Mr Huffaker quotes that supposedly debunks the Greenpeace sponsored report argues the effect of subsidies not the existence of the subsidies. The CAPP is consistently guilty of mis-stating the facts about the effects of our continued overusage of fossil fuels and why? There is no threat from renewables, not with natural gas prices at all time lows. If the fossil fuel industries truly want to be more transparent they first need to stop pretending that the issues don't exist. Its not their fault we're burning up the planet. Its a collective problem and we need to work together to right the ship for the next generations. Let's stop pretending oil and gas exploration isn't subsidized by government in an attempt to keep fossil fuel costs down so we can all enjoy the benefits of burning up the planet today in exchange for frying our children tomorrow!

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