{"id":58377,"date":"2021-06-25T07:13:43","date_gmt":"2021-06-25T12:13:43","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58377"},"modified":"2021-06-25T07:13:43","modified_gmt":"2021-06-25T12:13:43","slug":"bc-spends-more-subsidizing-fossil-fuels-than-on-fighting-climate-change-report","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58377","title":{"rendered":"BC Spends More Subsidizing Fossil Fuels Than on Fighting Climate Change: Report"},"content":{"rendered":"
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BC Spends More Subsidizing Fossil Fuels Than on Fighting Climate Change: Report<\/a><\/h3>\n

Government says its upcoming royalty review will ensure \u2018a fair return on our resources.\u2019<\/strong><\/p>\n<\/div>\n<\/header>\n

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\"DogwoodBillboardFracking.jpeg\"
Environmental organization DogwoodBC put up a billboard at the Vancouver intersection of Main Street and 2nd Avenue to raise awareness about BC\u2019s fossil fuel subsidies and the upcoming provincial review of its royalties.\u00a0Photo by Michelle Gamage.<\/span><\/figcaption><\/figure>\n<\/div>\n<\/section>\n
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Over the past year, the BC NDP have given away $1.3 billion in fossil fuel subsidies, which is more than the $1.1 billion it pledged to fight climate change, according to a\u00a0new analysis<\/a> by Stand.earth.<\/p>\n

The report looks at B.C.\u2019s \u201crunaway\u201d fossil fuel subsidies, which have been on the rise since the new government took over in 2018.<\/p>\n

The subsidies provided in 2020-21 ($1.3 billion) are more than double what they were the last year the BC Liberals were in power ($557 million), the report says. Stand.earth predicts subsidies will surpass $1.8 billion in the next three years, which would be triple what the Liberals spent in 2016\u201317.<\/p>\n

B.C. is only outdone by Alberta when it comes to the \u201cgenerosity\u201d of subsidies given to the fossil fuel industry, the report says.<\/p>\n

Some of these subsidies are leftover policies from the BC Liberals that have \u201cexponentially grown\u201d and others, like ones aimed at encouraging LNG Canada, are \u201cconscious decisions\u201d from the BC NDP government, according to Sven Biggs, Stand.earth Canadian oil and gas program director.<\/p>\n

The Stand.earth report was calculated using the World Trade Organization\u2019s definition of fossil fuel subsidies, which Biggs says includes \u201cany kind of tax break, or direct incentive or direct subsidy to oil and gas producers that encourage fossil fuel growth.\u201d<\/p>\n

It found the largest source of rising subsidies is the\u00a0Deep-Well Royalty Program<\/a>, which the report calls a \u201cloophole for fracking operators\u201d that will cost taxpayers $421 million this year in lost royalty revenue.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

BC Spends More Subsidizing Fossil Fuels Than on Fighting Climate Change: Report Government says its upcoming royalty review will ensure \u2018a fair return on our resources.\u2019 Environmental organization DogwoodBC put up a billboard at the Vancouver intersection of Main Street and 2nd Avenue to raise awareness about BC\u2019s fossil fuel subsidies and the upcoming provincial […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,4],"tags":[141,379,16170,25460,1729,31368,5499],"class_list":["post-58377","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-environment","tag-climate-change","tag-government","tag-government-subsidies","tag-michelle-gamage","tag-oil-and-gas-industry","tag-stand-earth","tag-the-tyee"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58377"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58377\/revisions"}],"predecessor-version":[{"id":58378,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58377\/revisions\/58378"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}