Oil and gas companies can show their commitment to climate action by investing some of their record profits to cut their emissions, Environment Minister Steven Guilbeault said Friday.
Guilbeault says neither he nor the government is stoutly against windfall taxes that could redirect some of those profits to people or climate action. The European Commission recently proposed a windfall tax along the lines of what Guterres wants. The United Kingdom imposed one over the summer, though new Prime Minister Liz Truss is not a fan and while she won’t cancel the one brought in already, she won’t extend it as some have requested.A surge in global oil prices following the Russian invasion in Ukraine sent oil company profits through the roof.
Dilling said the “projects and technologies to reduce emissions will be developed and financed over a period of 30 years, during which we will be subject to fluctuating commodity price cycles, such as these.” Collins said “oil companies are making record profits” and the government should tax them to “help put more money back in people’s pockets.”
Mad mad
Maybe this guy should not tell Canadian business where they should invest their money......
If clematis change is so important how come there are only two stations in the world that measure atmospheric carbon? (And there used to be 3).
Government should regulate oil amd gas. If oil and gas imvest and lose mo ey, they should be banned from asking for cost of increases passed onto consumers. If make a profit amd or pay bonuses and dividends, they can't apply for any cost increases to pass onto consumers
Climat action? Elaborate genius.
I thought new weed laws were supposed to foot the health care bill.
How long before Trudeau starts nationalizing the oil industry in the footsteps of his dad?
Its about time because it is climate destruction that will stop economy everywhere/no economy without an environment.
Imagine a government that gave us a plan for redirecting a portion of the profits of resource extraction to building a greener economy, diffusing the war with the west and putting us all on the same path, rather than pitting us against one another.
Keep fossil fuels in the ground!
Why bother when he screws the shareholders at every chance.
Canada should invest in a better Vetting process for perspective candidates for MP’s so the likes of you wouldn’t be able to hold office. What qualifies you to be an environmental specialist?
I agree they should invest more into green tech. But when you choke the ability to expand, upkeep and repair there infrastructure with multiple permits assessment the money just isn't there anymore.
Stop welfare for corporations. Market would have chosen renewables a long time ago if we weren’t giving them tax breakers.
While the world fights over oil this is what he says ! His govt won’t build LNG PIPELINES AWHILE TELLING GERMANY in NL last month they can have some hydrogen lol
Is that the profits hidden in overseas taxhavens? 🇨🇦 Politicians would have to put an end to numbered companies & 'legal' taxevasion first! 😡🛢️ 🇨🇦 Is robbed of $25Billion a year by elite & corporations. Everyone blabbering about inflation deficit food, fuel prices etc 🤢🙄🤑
Oil and gas companies should invest in energy conservation so they can make more money and get cooler toys while indulging in greater pleasures .. hence making life better for canadians, putting more money in our pockets while mitigating tax hikes.
Absolutely! The whole point of gov supporting the industry, was supposed to be because the funds it makes are meant to support the transition.
Love oil & gas! I can count on it!
The man made climate change hoax is base on political, not a scientific foundation
Just keep killing our resources revenue & I am sure the Middle East,with their increase of revenue, will do a great job in the Green Path of progress.
Why should they Govt already collecting carbon tax from us to invest into climate action, no?
The Government of Canada should not be building the TransMountain pipeline expansion, West Coast Lass says... Sadly, my statement will be equally effective in making climate action happen in Canada.
Reducing our 1.5% of global emissions to 0 will have 0 impact on climate change.
He should invest in an adults haircut
After you've demonised them? Why?
Well asking nicely isn't going to cut it. Time for a profiteering tax.
Who cares what that corrupt minion of the corrupt authoritarian Trudeau regime says.
From the world economic Forum climate change is caused by overpopulation time to get rid of the useless eaters
Its time to stop vilifying Oil & Gas companies and create a conducive atmosphere for them to do business.They create thousands of jobs,make our lives generally easier & are our only option till we all start driving Teslas & living in homes that don't need heating.justsaying
Don’t let politics and borders distance us from one another. Please be our voice. MahsaAmini مهسا_امینی OpIran
Yes invest it in the clouds
The climate has been changing for millions of years. You are late to the party
These people are mad
Why? they should reduce prices. Oh, it is the globe and mail misinformation.
It’s the shareholders who are owners of those profits. They will decide.
Geez wht a thought did you get this thought from AB we’ve been saying for yrs don’t shut down projects cuz you take the revenue put it into green energy so we can get there faster help transition workers as well plus revenue could really be helping our economy now it’s simple
They do but you knew that. They’re the single biggest private contributer. Again, you knew that.
They already do folks
Media companies should discontinue platforming this buffoon on matters of economics, John Hammerstix says
climate = Biggest globalist corruption hoax Radical left hate sovereignty/country/PPL/Rites & are destroying FreeWorld. Redistributing wealth of PPL. Policys ending Oil w/nothing 2 replace fossil Printed $..devaluing Cdns wealth. [inflation=deliberate] & Cutting fert/food
Another not worthwhile statement from this minister. He is saying that profits should be donated to climate change. What incentive do oil companies even have to drill and explore when they are supposed to DONATE all profits. No go.
As you try to bankrupt them you want them to invest in climate action - hilarious.
Please let’s end this insane nightmare
What the fuck is climate action... what a clown... TrudeauMustGo
You know who else is gaining from “surging oil prices”? Federal general revenues via existing taxes. Perhaps they could invest these funds into green plans, rather than creating supplemental taxes on our energy. Or get more of our cleaner fuel to the world = even more revenue.
Uh... they already do...AND oil and gas companies have planted more trees than Justin and his cabal have
The country is a mess with these clowns running the show ..Trudeau gibeault freeland joly..most incompetent gov ever
He means investing in them not climate! The climate is fine according to actual scientific facts.
Hmmm…..would you take financial advice from this man? Would you take advice from the finance minister? How about the PM, who doesn’t think about monetary policy? Not a chance.
I can't wait until this fool is booted out. Let's get 20/10/2025 trending.
I am 60 years old Worked in oil patch for 40yrs, a huge percentage of that time away from my wife & family. I owned 2 companies to set up my retirement, Due to your government targeting our O&G industry, they are bankrupt My retirement is gone Thks Justin/Steve trudeaumustgo
So more mining corporations for battery parts?
Or, they could reinvest in their businesses to make energy more affordable so poor and middle class people can actually have decent living standards? Just a thought
Buy shares, collect dividend, spend that dividend on climate action
Since natural gas will prevent millions of tonnes of coal from being burnt in China does investing in CGL count?
Idiot.
If you present a business plan with an ROI% higher than O&G they will. Now's your chance. Do It!
From an activist who’s never created a job in his life
Buy a control stake - then you get a say.
Why? Probably he should resign and seek some help.
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.
Translation - 'Oil and gas companies should give their money to things that I will financially benefit from.'
Communism.
No. They should pay out dividends or increase salaries to retain talent.
What a breakthrough….
Stop subsiding them and invest that! Just a thought.
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