Comment 64895

By Deedee (anonymous) | Posted June 15, 2011 at 13:47:37 in reply to Comment 64894

The feds give around $2 billion in annual subsidies mostly via tax expenditures - fast depreciations, exploration and development expenses, sanctioned tax shelter etc - to oil companies, with most of it going to companies extracting oil from the Alberta tarsands because it's earmarked for high cost, high risk oil extraction.

The Alberta government pumps in another billion a year to tarsands developers.

A leaked internal memo from senior department of finance analysts argues that the industry doesn't "merit preferential treatment" and that Canada should phase out its subsidies.

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