Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

Reports of BC subsidies to Canada’s oil and natural gas industry are inaccurate says Canadian Association of Petroleum Producers


On Monday, November 25, a report was released by the International Institute for Sustainable Development (IISD), falsely claiming the British Columbia government gives hundreds of millions of dollars annually in subsidies for fossil fuel, this from Ben Brunnen and the Canadian Association of Petroleum Producers.

The report, he stated, is yet another instance where the authors alter the definition of a subsidy in order to support an inaccurate report. There are no subsidies given to the oil and natural gas industry to support production.

“The industry is one of the largest private investors in the British Columbia economy and one of the biggest sources of resource revenue for the provincial and federal governments; revenues that support healthcare spending, infrastructure development, as well as investments in education and schools”.

Continuing, Brunnen remarked, “Royalty programs and tax measures are ways for provincial governments to ensure they receive fair value for the natural resources they own.

For example, BC’s Royalty Credit program is sound policy that recognizes the high, up-front costs of resource development and associated risks”.

In this case, the government accepts a lower up-front royalty in exchange for a higher one as projects begin generating a profitable rate of return. The program encourages development in order for the provincial government to benefit from the long-term development of its natural resources.

“Federal and provincial tax and royalty regimes are not subsidies, they are part of a fiscal framework that provides a globally competitive investment regime attracting investment, creating jobs and benefiting all Canadians”, he concluded.


Ben Brunnen
Vice-President of oil sands, fiscal and economic policy
Labels:

Comments

Post a Comment

Popular posts from this blog

PECKFORD -- Authoritarian governments in our own time, from the Nazi period to the USSR, have crippled democracy and freedom and yet we have not learned

Just come right out and say it ... it’s China ... and it’s communist. So there ... I said it! And its a virus, the corona virus, that came from China — the China Virus. Oh, yah it has a fancy name —but this keeps it simple and identifies its origin. Imagine that!!! Of course, now that Trump has said it, he, being a virus to most China sensitive people (and that’ s just about everyone) none will say it now —- And the political correctness and hypocrisy of it all. The World Health Organization changed all that a few years ago and like sheep we all followed along. No more geographic naming —that’s an order —-George Orwell is turning over in his grave. Of course, this WHO is part of the UN that has a Human Rights Council full of human rights violators whose sole purpose in life is to bring resolutions against the only democracy in the Middle East. Nice civilized crowd don’t you think?? We all put up with this charade every day and conti...
Post a Comment
Read more

Khadr played upon the democratic freedoms and rights that Canadian have

WELL I CERTAINLY STIRRED UP REACTION when my last post went online , as well as other comments, which were made online elsewhere.  People opposed, to what I had to say, had comments which included the following:   Okay, I'm f - - king sick of the idiocy and done with writing a diatribe every single time a friend posts about how they're upset that Trudeau is giving a terrorist $10m. ... You people are.... willfully ignorant and hypocritical .. ·          God help us. What’s next everybody is “packing”, burning crosses, and having segregated bathrooms.  This rhetoric is disturbing.  Canadians are better than this. My mind is in awe of the number of people who have no respect for what being tortured actually means. Who foolishly think that they wouldn't break ... If our governments are willing to trap and torture people on foreign soil then we h...
Post a Comment
Read more

Abbotsford-Mission MLA Reann Gasper to step down for Conservative Leader Hon. Kerry-Lynne Findlay to run in a by-election

Deputy Whip and MLA Reann Gasper has informed the Speaker of the Legislative Assembly of British Columbia of her decision to step down as MLA for Abbotsford-Mission, creating an opportunity for Conservative Party of British Columbia Leader Hon. Kerry-Lynne Findlay to seek the seat in a forthcoming by-election. Gasper said the decision was made carefully and deliberately, with the future of British Columbia firmly in mind. Abbotsford-Mission MLA Reann Gasper “This is a decision I have made after a great deal of careful consideration, and I believe it is the right decision for me, for our Party, and for the work ahead,” said MLA Gasper. “It has been a privilege to represent the people of Abbotsford-Mission, and I am deeply grateful to everyone who placed their trust in me. I am also grateful for the opportunity to serve alongside my colleagues in the Conservative Caucus and to contribute to our leadership team.” “I have confidence in Kerry-Lynne, in her leadership, and in her ability to ...
Post a Comment
Read more

Labels

Show more