Deep well credits are a tax reduction to encourage companies to drill wells so the Province can receive more revenue while creating jobs.

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Setting the record straight on the day’s top anti-oil and gas media stories.


ACTIVIST CLAIM: Using misleading redefinitions of the words subsidies and liabilities, Stand Earth says B.C.’s deep well exploration credit for natural gas production is sabotaging the province’s climate change plans and creating liabilities for British Columbians

THE FACTS:  If a store has a 50% off promotion did it subsidize yu or did you still have to pay for what you bought.   If you paid for the item in installments does the store have a future liability to you or is it you who has to make the payments?  Deep well credits are a tax reduction to encourage companies to drill wells so the Province can receive more revenue while creating jobs.  The companies do not receive money from the government and there is no liability to them, they still have to pay.

THE SOURCES:

Subsidizing Climate Change 2021: How the Horgan government continues to sabotage BC’s climate plan with fossil fuel subsidies


Here are some talking points and sources to have a reasonable conversation about deep well credits and the benefits of natural gas production.


Stories that get it right.

Hydrocarbons will continue to be an important part of the energy mix, Baker Hughes CEO says

With calls for net-zero, activists have decried that it would be the end of oil and gas. However, technology will be the key driver of reaching net-zero with oil and gas still going to be an important part of the energy mix by 2050. The CEO of Baker Hughes is just the latest of many in the oil and gas industry to echo this view.

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