The incoming Liberal government promised to “fulfill Canada’s G20 commitment to phase out subsidies for the fossil fuel industry,” in their election platform. Will they deliver?
Canada’s fossil fuel industries are the recipients of $2.7 billion US ($3.6 billion CDN) in handouts each year, despite a promise from all G20 nations, including Canada, to eliminate subsidies in 2009.
About $1.6 billion US of those subsidies came from the federal government with the rest distributed by the provinces, according to a new report from Oil Change International.
The report finds G20 countries spend about $452 billion US each year to prop up their oil, gas and coal industries.
Read: Canada subsidizes fossil fuels by $2.7 billion every year. Where does that money go?
