His remarks come a week after Cenovus CEO Alex Pourbaix told analysts during a company conference call that a new federal tax credit isn’t good enough to convince the major oilsands producers to start building a proposed carbon capture and storage project.
Projects that go to enhanced oil recovery — where the captured emissions are used to squeeze more oil out of the ground — won’t qualify. “We want to invest in your sector to ensure that the sector and workers still have jobs, 10, 15 years from now, when more and more, the world will be moving toward a low-carbon future,” Guilbeault said. “So we’re putting our money where our mouth is, and we think that they should do the same.”
Last week, Pourbaix said oil prices rise and fall so decisions about investing in carbon capture can’t be based on current prices.
Oh God! Will these jerks ever be turfed out? Isn’t our beleaguered economy suffering enough?
These bloody idiots don’t realize that ripping the earnings from a company is not conducive to future investment in our country. This bloody government couldn’t run a friggin lemonade stand let alone managing a country!
No they shouldn’t, they should be returned in party to the public for the price gouging that’s happening. This guy is living in a fantasy, the entire Lib cabinet is.
Nuts
Judge and jail
NOPE! Although earth has warmed by 1.1C since 1850, the peak temperatures during last four interglacial period ranged from 2.9 to 4.6C. There is evidence that CO2 and the sun are the main causes; however, an ice age is coming and we must adapt either way.
As soppy as this one.
He should be judged and jailed
They are!
Commie SOB
How about lowering the deficit first and making Canada more affordable to mid income families.
Ok big man, a stalemate huh?!. Before a tantrum starts please take an economics and poli-sci course. Anything you tack onto these companies in the form of taxes will inturn be passed to us. For them it’s inherently doctrinal.
Hey convict, ok, so here’s a better plan since the radical ideas keep coming fast & furious- nationalize all oil comp and then govt keeps all the loot BUT cut all income and carbon taxes on the 1st 75k of income for all. Pass land value tax &eliminate 99% of credits/deductions.
Guibeault is a Greenpeace conviction criminal running a ministry in Canada WtF
You know where we need investment? Broadband infrastructure. Rogers’ March quarter wireless service revenues +7% YoY with cash flow from operations +20% YoY to $800M. Yet 🇨🇦 has some of the most expensive internet service costs & worst rural/remote broadband availability in OECD.
Wealth redistribution: never a good idea
Maybe his record high salary should be invested back in to Canada. Better yet, let’s just fire him.
'climate action' = taxes
How about back to shareholders as it’s intended to be not some manic regime
Dream along. Record profits go straight to shareholder pockets. Tax dollars are all that is invested in climate action.
Tabbaco profits (taxes)/ liquor profits (taxes)- SHOULD be spent in health care exclusively. Lots of shoulds in life. Perhaps you should help me on the expense of an electric car from your personal record profits!!!!!!!!!!
buy food for africa while investing. how's that!
This guy is insane. He has no say on where a company's profits go.
Guilbeault is the Honourable Minister of Auto. Asphyxiation.
Its called capitalism. When prices are high, as a function of supply and demand constraints, normally profits go up. Minister Guibeault, respectfully whatever Canada does now in terms of our carbon emissions, is far too late.
Xebec, Standard Lithium & more…
Let’s make this guy live in a tent, commute by bicycle and canoe and then maybe he will get my attention!
I wonder if JustinTrudeau sits back and laughs, then says 'did u here what that stupid sob just said, takes the heat off of me' s_guilbeault
Profits are taxed. Is that not enough?
Should the federal government re-imburse these companies if they have losses? Or is that the only time this idiot believes in capitalism; when businesses lose money.
So steal stock owners $? Ya let's get rid of free markets but why stop there? Why not ban any activity that uses fossil fuels? No vacations, we don't NEED AC, wait do people NEED discretionary $? Let's just tax it all and use it for climate change.
Where the hell is this, certainly not I Canada under Trudeaus destroy Alberta, SK and Canada's oil and gas sector policy/agenda
Your government takes enough from Alberta.
“Climate action” is what the Liberals call their slush fund.
Clueless
Spoken like the true socialist that he is…use shareholders money to support government initiatives. How about support oil &gas industry to get the US and Europe to use our product instead Russia, Saudi Arabia or Venezuela
Does that also go for record profits for pharmaceutical companies and large grocery chains Mr.Guilbeault?
Well frankly they can’t be trusted with the money
If you want to go there look at the record earning of fertilizer manufacturing companies. No doubt commodity prices are up but coincidence?
Why so generous with other people’s hard earned money?
How the hell do we have people like this in charge? How? Who votes for this crap? Our children are doomed
Guilbeault just mad cause he’s missing out on the oil boom while his Northland Power Stock is only up 5% YTD. com Legit tho, after years of pain, I don’t care what the companies do with this year’s profits. Shareholder returns maybe.
Before you flap your lips about oil company profits , how about showing us how much of the tax money collected for Climate change is actually spent on climate change
So it would be better if Canadian companies did not make a profit or not a record profit? Do Canadian companies need employees? If Canadian companies did not make a profit would they continue to be a Canadian company? I have so many questions.
What about the chemtrails?
Time to stop the fossil fuel subsidies. Why are taxpayers supporting an industry making massive profits while we pay more for gas.$2.09 a litre in Vancouver! They can’t be trusted to do carbon capture. Boondoggle.
Instead of paying down the debt ! Liberals !
It’s not his money! Get lost buddy!
You want to chase out 'big oil', there will be an enormous price to pay.
Should be use to build more pipes
Price gouging from every company. Can’t have profit make the inflation we seen now. Record profit means your just getting screwed
How does anybody take this guy seriously? I know he is strange but doing as he says makes us even more strange.
How bout some of those record pfiezer and moderna profits? Seems fair considering the majority of their profits is directly out of our tax base
Is there a return
Anybody remember the NEP?
As M Thatcher said, socialists spend others money till its all gone!
That’s not up to him
These kinds of statements are made when you have no control over the world price of oil. Just appearing to do something while the price at the pumps skyrockets and the rest of us pays. But hey we made a statement!
What about big pharma? Like Pfizer and those record profits?
Lol maybe stop giving them a bail out. Perhaps they can be resonable for their own company.
EcoTerrorist.
Yes I'm sure they will get right on that. Their first priority has to be to help the Libs kill themselves off!
Bringing more Canadian energy to market is the best investment in climate action these profits can buy. Raising taxes is not climate action.
Feel free to become a shareholder Mr.Guilbeault and you can do whatever you want with the profits .
You can't just spend without accountability and just keep taxing everything that comes across your path because you're irresponsible. There are consequences to punitive taxation. Taxation must be fair. Stop taxing middle class. Middle class should pay no more than 25%.
GFY. Idiot.
Let’s destroy Canadian energy companies and we can purchase oil from Russia, Saudi Arabia, Iran and Venezuela, sounds like a great plan to me
They are. The atmosphere needs more co2, so there's that.
Another wing nut
His salary should be invested into a better person for the job
makes sense
And record profits for grocery chains? 🤔
He wants to guarantee that inflation will keep running double digits
Or will they use it to buy the PM two more high end executive jets, like the govt quietly did last year… or to pay the fuel bills for the cabinet’s many unnecessary trips.
The energy industry profits need to go to investment back into exploration for oil and gas.
When will Quebec swear off taking equalization that is a result of oil and gas?
That’s a shareholder decision.
THEY ARE!! Just because you refuse to acknowledge the leaps and bound our companies have made, doesn’t make you right
Tax the people to change the weather. clownworld
What about the record profits from Loblaws?
What about record losses? Does the government cover those?
i am oil company investor and i will gladly take my share of profits. Salute!
Are we done with these bozos yet? Or more abuse to come?
No they should refund consumers for all the gouging.
Ah is that why they suddenly liked offshore oil platforms on the East Coast...? How did the Liberal Sheep feel about 'Mr. Environment' Steven Guilbeault trying to suddenly sell them on more carbon production..? 😏
This guy needs his orange jumpsuit back
I say Guilbeault's salary should be invested in tulips. So what? It's not my money. And the earnings of oil companies aren't Guilbeault's money. Bloody authoritarian meddler.
This guy is batshit crazy!
Should be passed onto the consumers
Zero appreciation nor respect for business (those pesky entities that create the jobs whose payroll taxes actually float the seemingly unlimited spending he and his economically ignorant colleagues constantly announce).
Should be use to fix inflation. Once inflation is fix . Then do your agenda .
This guys must go. We don’t need him at all 👎👎👎👎👎👎👎👎👎👎👎👎👎👎👎👎
How does he know that the profits are not being invested in decarbonisation?
How about any profits made by any companies profiting in the name of climate donated it to food banks or the homeless? They must all have a net profit of $0.00. Sounds fair to me.
How about you deserve nothing. Your govt waged wars against the oil and gas industry . The so called climate budget isn’t used for climate as we seen in Ontario where it was used for a rubber duck !!
Now he knows how to invest profits better that the companies that take risk on the first place. Thiese guys sounds everyday more like the Chinese government.
'Climate action' is classic vacuous, virtue-signalling political speak. Such use can be translated: 'I've no clue re natural climate dynamics and don't care, but I'm good at making preachy meaningless noise. As to climate geo-engineering and weather warfare, it's 'no comment''.
He's like Robin Hood...kind of. Steal from the rich and give to...wait a minute.
Makes sense and I'm sure there are many already doing so. Make these re-investments tax deductible.
Communist
Should LoblawsON record profits be invested in the food banks their price gouging is driving people to use?
This sounds as an obsession, rather than a good public policy. This climate action thing seems to be all about money.
What style of government looks to seize the profits of a private company to utilize them for itself? There must be a term for it… 🤔
Guilbeault the government takes in billions of our dollars to fight climate. Until you can show us the data on how the atmospheric river that flooded parts of bc last year would have been exponentially worse had bc not had carbon tax for over 10 years, you can axe the tax.
He must have fallen out of a tree and hit his head during his green peace days
Listen to Greta there is no climate change or crisis came right from her mouth. Fawking 🤡s
Climate action like providing vast amounts of LNG to countries to help them stop using coal for electricity production.
And here comes the communism!
How to confirm you are a socialist without saying it...
This is why we need a change of Federal Govt.... they just don't get it at all. To them the solution is always tax, tax, tax and then subsidize so called solutions that do not work efficiently.
Ya, you can stop talking anytime now s_guilbeault Talking about your government taking company profits will scare away any companies looking to invest in Canada
Hey guilbeault
These guys love spending other peoples money.
Let's investigate trudeau first.
He needs to go
Canada is the only country to impose economic sanctions against itself.
He is trying to bankrupt a nation. It's a cold war attack from the inside. We lost the cold war.
'Everyone, just give us your money and we will save the world!'
Sure thing. The government can take the tax money that oil companies pay and do whatever they like with the environment to offset pollution.
You should go away
They gouge us at the pumps, let's gouge them right back!