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. An RBC analysis released last week said cutting oilsands emissions 40 per cent by 2030 will cost between $45 billion and $65 billion.
Better yet pipelines and refineries.
Don't make them give consumers a break,just take more and more as we all stuggle to decide if we need gas or groceries.Politicians should pay their own way and then we would see changes.
Profit is theft
Every company out there is to make profits if you start doing that will have no companies in Canada to go to work for
Just an ideologue Liberal with covetous eyes and potentially sticky fingers which he should keep off productive business.
Oh…so this IS a socialist/communist country where the government owns/controls the means of production…
This is extremist rhetoric. s_guilbeault
What about Loblaws? They had record profits for the first quarter. Is the government going to go after them? Imperial oils revenue was 12.7 billion. Loblaws was 12.3 billion. What's the difference? Looks like Loblaws needs to pay more taxes. Like a good security tax
Smacks of PUTINISM! What’s next take over the Companies. Get a life please.
I think Mr Enviro-terrorist, you need to go to China , the world’s largest polluter, and share your views. Let us know if they buy your message.
How about record profits from liberals.
...coming from a true marxist communist eco terrorist. Cute. The only ppl who steal more than a govt is a marxist communist govt.
We need a change of govt
Nope.
Climate Action The SUN predicts the climate!
There literally cannot be a Canadian that reads this headline and thinks this is a good idea. If you do think this is a good idea and have frustration associated with the cost of living right now you get a special prize.
When we're paying $2/L at the pump, and have to work 4 out of 10 days to put fuel in our vehicle just to GET to work because 'russia'...and oil companies report record profits at the same time...there's not much investigating needed...
You communists ultimately believe you should control 100% of the wealth of the country. It's really not about climate change as we have seen the lies of your carbon tax. It's about you having control. This guy is nothing but a criminal who hates our oil and gas employees.
Or maybe mind your own business!!
Give us half your salary for “climate crisis” plus your raise
Isn't that already covered in the royalties they pay, as well as the carbon tax?
PFO
Record profits for politicians should be investigated
……and you should escort yourself right out of parliament and resign: me
And insurance companies should be paying for housing , there's more to the story of price rise across the board ,higher ups are creating great returns for themselves, and food shortage! We wasted over 50 percent of food over the years,oil) food nothing to do with Ukraine war!
Record profits for oil companies should lower the price at the pumps
I'd like to see the NDP Liberals rely on oil and gas profits to subsidize climate action policies. That would be ironic and kind of funny similar to provincial governments both advising against tobacco use while also relying on 'sin taxes' from those products.
It would be another communist move. We are a capitalist country………. For now.
lakecitygirl Zealot. 'a person who is fanatical and uncompromising in pursuit of their religious, political, or other ideals.'
This climate government BS is the exact reason why we are going to be at 100$ oil for a long time. Governments should be incentivizing companies to produce more oil to help economies grow.
And you wonder why no one wants to invest in Canadian oil and gas? Fkn joke
Why does everyone expect handouts, those who think we should reap the benifits of successful companies are the same people who took thousands in handouts (subsidies), Handouts are the reason the liberal government printed a “unprecedented “ amount of money, result inflation.
Workers of the world unite! Eh?
People that don't understand how anything works should not be allowed to be in charge.
Communism at its finest
Invest some of the carbon tax money you are stealing from Canadians, which are contributing to high gas prices. Better yet, build more pipelines and quit trying to destroy our oil and gas industry.
Eastern Canada and especially Quebec has received billions in Equalization from Oil & Gas over the last 65 years IN A ROW ! What has Alberta received from The EAST ! ! ! !
What a bunch of bullshit. What other industry has been targeted during their record profits. When will big pharma be targeted for their record profits? 🤷♂️
We should definitely listen to this clown car government when it comes to spending money...
We have an minister that doesn’t understand the grade 4 topic of public vs private. No not every dollar belongs to you, go play In the sandbox by yourself.
Let's talk about banks, shall we? Oh, right ... never mind.
You can go get f....
🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡
Excellent idea 😼
‘Well’….maybe this isn’t the time for Record Profits. Making huge profits off a struggling World.
No
Of course they are making record profit they control production and are capitalizing on using the war in Ukraine as an excuse to slow production driving prices higher!
s_guilbeault - Oil companies should not be subsidized in order to cripple those of us who have to drive to work.
Give back to the people
From your lips 💋 to their ears.
🤣🤣🤣
I can’t believe the garbage that is happening in the HoC the economy is going to crap and we can’t figure out how to make money so the people can save money
Record profits for oil companies and yet the conservatives are angry that they oil and gas industry is suffered under the liberals?hmmmmm
100%! They should also be cleaning up their orphan wells.
Without oil and gas everybody would be naked and have no phones, computers, cars or houses! Lol
No to radicals/No to socialism
Climate action - liberal idea of milking money!
Sad to so many people defend corporation ripping them off just so they can blame the people they hate instread if the acual culprits or they just bots or foreign saboteurs
Nope
Another socialist who feels he’s entitled to the earnings of others. He had no problem pocketing his raise April 1.
Or how about helping Canadians with the high inflation!!!
Record numbers in tax revenues, give the surplus to the tax payers.
What a stupid manipulation.. Lets fuck the world and make money out of our kids suffering !!! Those people need a mental evaluation urgently..
How about you all stop gouging the public and give something back to them instead. We are All sick of government and corporate Greed!
No
BrcDi4 should be?! Let's see, who is best in a position to change regulations?!
Lol so communism?
Sure why not, the govt just needs all of the money to save the world. still waiting to see how the carbon tax on gst combo is amounting to anything but filling buddies pockets
These are not record profits, its inflation. Whatever they invest into next will be very expensive. Materials, wages, and shipping are all demanding more money.
That's not how profits work, Minister Woke
Nationalize Canadian Oil Sector?😂😂😂. Like the government can actually run a company😂😂😂😂. This ass🤡 criminal s_guilbeault couldn’t run 💩. He should look into how it worked out for Venezuela!
In communities!!! Yes. Please!!
🤡
So give them the chance to make these profits.
How about they reinvest in themselves, and UnevenSteven stops robbing Canadians to fuel his obsessions? TrudeauCorruption StoptheLies TakeBackCanada 🇨🇦❤🇨🇦
Maybe if the government did its damndest to encourage producing the finest engineers and scientists on earth then this wouldn't be a problem. Maybe the oil companies would need to invest in the replacement technologies in order to stay afloat.
Vapid tool
'We should take those people's money' What a novel suggestion.
No they should be reinvested in oil and gas so supplies increase and prices decrease. Now I know ur a crazy environmentalist but this is basic economics sir.
Stop the outrageous fuel prices! Who’s watching that?
Exactly what a communist would say
More like give the money back to the people FFS!!
If that’s the case, record losses should be covered by the government. Shutdowns due to covid caused losses and lack of pipeline capacity from 2016-2019 led to higher differentials and loss of revenue. Pay that back
s_guilbeault is an Eco-Terrorist Crapweasel. climatehoax TrudeauMustGo
In the meantime Loblaws profit soars 40% and that's okay.
Nationalize our resources and all of the profits come back to the system We’re subsidizing billion dollar companies, and givinf tax breaks, and giving undervalued resources, and paying for clean up, so they can profit We’re being scammed
Hasn't this Rainbow Warrior action figure done enough damage to the economy? Does he even read any of the reports that pass over his desk? It sounds like he has abandoned the role of finding solutions to complex problems. The worst cabinet minister in this government.
Every liberal is a thief. neveragainliberal
No you cannot steal their I'll gotten money its call free enterprise not communism.
It's time for jkenney to cut eastern Canada off. Turn the taps off. Send a message to s_guilbeault, eastern Canada and the Laurentians elites. No one tells Alberta what to do.
Stop giving them money. We all know that won’t happen though
This is the ex con right?
I'm a shareholder so I'll tell you to your face to fuck off
For this incompetent and useless government employee whos government cannot account for appx 400-600B in “pandemic spending” to tell profitable corporations that produce useful goods (oil and gas) how to spend their money is simply breathtaking. He should be launched into the sun
Ummmm…should be invested in bringing down the damn price of gas!
Says the idiot that helped kill investment in the industry and now with a supply shock is blaming the oil companies. This is the result of stupid western energy policy thinking windmills and solar panels will get us there.
They are making record profits because people need it, but you limit them from producing, and it jack up the prices… There is a case to be made that you guys are colluding
Central planning = poverty
If Canada actually nationalized it’s energy sector this would be achievable…. But we just claim royalties and give most of the profits to the corporations…
Sounds like big oil and grocery are ripping us blind. Your spreading dangerous false misinfirmation. We know you love it, it's a huge windfall of carbon taxes.
Yup, the fat needs skimming.
what about pharmaceutical companies hmmm? specially after those pfizer documents they wouldn't happen to pay you in any way would they ctv?
So easy to say you want to steal when you’re part of the government.
why do we have a literal terrorist running our environmental policies.
Or used to lower fuel prices so we can afford to drive to work
Man this guy is an idiot. Simply staggering. No wonder we’re in such a mess
Go back where you belong
Canada just cannot permit or afford the federal government telling everyone what to do & where to spend their money to satisfy an impugned liberal_party policy. There is no climate crisis and we can't change the weather. cdnpoli
Spoken like a true socialist, a chap from a $ broke government, an idealist former green activist, and like his Liberal processors, unable to deliver real results. Probably all four. cdnpoli
Don’t you love how he wants to spend other peoples money $$
Or maybe tax payers should stop subsidizing these extremely profitable companies over $3 Billion every year.
He's wearing an Alberta tartan. He must be pro-Alberta.
It’s a government scam and they are getting lots of taxes over it
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