A new report says the federal government is providing billions of dollars in financial support for the fossil fuel industry, despite measures announced last year to limit certain types of subsidies for the oil and gas industry.
The analysis, released today by the advocacy group Environmental Defence, estimated that Ottawa offered up at least $18.6 billion in support of the fossil fuel and petrochemical industries in 2023.
That tally includes:
$8 billion in loan guarantees for the Trans Mountain pipeline. $7.4 billion in public financing through the Crown corporation Export Development Canada. $1.3 billion for carbon capture and storage projects.
Climate activists
