Setting the record straight on the day’s top anti-oil and gas media stories
ACTIVIST CLAIM: Environmental Defence petition uses recycled debunked claim that the government gave the oil and gas industry $18 billion last year in subsidies.
THE FACTS: Activists are using debunked claims about government subsidies to the oil and gas industry to get you to give up your information.
Here are some talking points and sources to have a reasonable conversation about government subsidies:
- Most of their $18 billion claim comes from the Export Development Bank, an organization that is financially self-sufficient and raises money just like a bank, mostly through fees and global markets. This means that they aren’t using public funds to finance these industries. $3.2 billion of actual government funding was used for cleaning up wells and other environmental initiatives.
- A policy brief from the International Institute for Sustainable Development notes that Canada announced almost $15 billion in financial support for “green” initiatives in 2020.
- The oil and gas industry contributes an average of $26 billion per year in taxes which goes to important civil services like health care.
Statistics Canada (2020b). Table 10-10-0017-01: Canadian Government Finance Statistics for the Provincial and Territorial Governments
Statistics Canada (2020c). Table 33-10-0006-01: Financial and Taxation Statistics for Enterprises, by Industry Type Statistics Canada (2020d). Financial and Taxation Statistics for Enterprises, by Industry Type (x 1,000,000). Custom tabulation.
Statistics Canada (2020a). Table 10-10-0016-01: Canadian Government Finance Statistics for the Federal Government
- The oil and gas industry invests the most of any other industry in the expansion of clean technology to produce reliable energy while lowering environmental impacts.
Stories that get it right
A new report from the Fraser Institute showcases the growing support from Indigenous communities for resource development. Contrary to activist claims, many of these communities are thriving off of the economic opportunity from things like oil and gas projects.