Oil and gas companies generate billions in government revenue, and are investing heavily into carbon tech to lower emissions.

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Activist Claim: 350.org launches letter writing campaign aimed at lobbying government to add another tax on oil and gas.

The Facts: Oil and gas companies generate billions in government revenue, and are investing heavily into carbon tech to lower emissions.

The Source:


Tax Big Oil to Fund a Just Transition
 


Here are some facts and sources to have a reasonable conversation about more oil and gas taxes:


Stories that get it right
LNG Canada, country’s $40-billion ‘second chance’ at becoming a global LNG leader, takes shape

An export terminal on the West Coast providing access to global markets would be a game-changer for Canadian producers who have been maxing out the volumes they can push into the U.S. Midwest and Eastern Canada, said Richard Frey, an analyst with S&P Global Commodity Insights. In 2021, Canada exported an average of 7.6 billion cubic feet per day (Bcf/d) of natural gas to the U.S. and imported 2.2 Bcf/d.

“There’s really not a whole lot of room to do anything more beyond what they’re sending right now,” Frey said. “So this will be an additional outlet and a large outlet at that, too. If North American prices remain high … it could easily grow production by two (billion cubic feet of natural gas) per day.”

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