Oil and gas companies should invest profits in climate action: Steven Guilbeault

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OTTAWA — Oil and gas companies can show their commitment to climate action by investing some of their record profits to cut their emissions, Environment…

Canadian oil companies are reaping the benefits of surging oil prices following the Russian invasion of Ukraine with many companies posting record profits in the first half of 2022.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.

“If they don’t make those investments while they’re making record-level profits, then when would it be a good time for them to make those investments? If not now, then I don’t know when.” The Pathways Alliance is an organization of Canada’s six biggest oilsands producers charting a course toward net-zero emissions by 2050.Advertisement 5Oil prices tanked in 2020 mainly because of the COVID-19 pandemic and plunging demand.

NDP environment critic Laurel Collins called on the government Thursday to follow Guterres’s call and impose a windfall tax.

 

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Not executive bonuses, stock buybacks, and dividends? Typical lefty gov't policymaker! \\sarcasm off cathmckenna

Add Nuclear energy to the green bonds framework so they can make a difference.

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Oil and gas companies should invest profits in climate action, Steven Guilbeault saysEnvironment Minister Steven Guilbeault says oil and gas companies should invest record profits in climate action Stop subsiding them and invest that! Just a thought. What a breakthrough…. Perhaps you should report on the city of Ottawas climate control action plan in the works and let the people know what's going on behind their backs.
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