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The G-20 leaders – including representatives from major energy producers and other nations with large subsidies – today committed to phase out fossil fuel subsidies over the medium-term while providing targeted support to help the poorest.

G-20 communiqué, June 2010

Energy Risks: Removal of Subsidies

As we come to understand the degree to which our taxes are used to subsidize the oil industry directly, and consumer use of fossil fuels, contributing to greenhouse gas emissions and accelerating climate change, pressure will increase to reduce our taxes by creating more realistic pricing of oil products.

Pumped Up, produced by KAIROS, examines how governments are supporting exploitation of the Tar Sands in a number of ways.

The FOSSIL FUELS – AT WHAT COST? (2010) report states Canadian (federal and provincial) governments provide almost $3 billion annually to the oil industry in direct subsidies, or almost $100 per Canadian per year. Those subsidies are going to an industry that is reaping historic windfall profits.

This amount does not include subsidies to consumers to lower the price of oil/energy products, such as the Northern Ontario Energy Credit (NOEC). Newfoundland & Labrador offer a home heating fuel rebate of $100 to $250 annually. Depending on a means test, seniors in the Northwest Territory may quality for a 100% subsidy of their building heating costs. These are just some examples of how our governments encourage the continued use of and dependence upon fossil fuels at the consumer level, instead of incenting weather-sealing, insulation, and use of sustainable energy sources.

Energy Risks
Climate Change
Supply Disruption
Carbon Taxes
Dwindling World-Wide Supply
Removal of Subsidies
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