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Oil industry gets almost $3B in subsidies: Report
Wednesday, December 29th, 2010
December 29, 2010
Canadian governments spent almost $3 billion subsidizing the oil industry in 2008, according to a recent report by a Winnipeg-based research institute… The International Institute for Sustainable Development… found 63 separate subsidy programs across Canada, mostly meant to increase exploration and development through a mix of tax breaks and royalty reductions… the research institute doesn’t see much benefit for taxpayers in the various federal and provincial subsidy programs. It calculates the subsidies will boost provincial economies by between 0.1% and 0.16% in the next decade
Tags: economy, ideology, tax
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