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'Steer the market': Study finds $23B in federal, provincial pipeline support

Steer the market : Study finds $23B in federal, provincial pipeline support
by Bob Weber, The Canadian Press
Posted Jul 6, 2021 12:05 am EDT
Last Updated Jul 6, 2021 at 12:14 am EDT
Taxpayer dollars are heavily distorting Canada’s financial marketplace in favour of fossil fuel pipelines, new research suggests.
The International Institute for Sustainable Development says spending by provincial and federal governments combined with the value of loan guarantees and other fiscal instruments intended to help get the lines built is worth a total of $23 billion.
The great majority of that money isn’t in direct subsidies to the now-defunct Keystone XL or ongoing Trans Mountain and Coastal GasLink projects, said report author Vanessa Corkal. But backstopping loans and reducing other kinds of risks for pipelines encourages companies to make choices they wouldn’t otherwise make, she said. ....

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Government pipeline support at $23B: study

Government pipeline support at $23B: study
winnipegfreepress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from winnipegfreepress.com Daily Mail and Mail on Sunday newspapers.

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Trans Mountain, Coastal GasLink, KXL received $23B in government support

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Alberta Premier Jason Kenney greets workers in Oyen, Alta, in July 2020 after announcing the provincial government s financial support of Keystone XL. The pipeline project has since been cancelled.
Photo: Chris Schwarz / Government of Alberta / Flickr
Governments in Canada have provided at least $23 billion in support for pipeline projects in Canada since 2018, according to a new report from the International Institute for Sustainable Development.
Government support for pipeline projects, the report said, “heavily undermines our ability to achieve our climate goals” and can result in “large increases in carbon emissions that last for decades.”
The report examines support in the form of direct transfers, loans, loan guarantees and other measures to three major pipeline projects: the Trans Mountain expansion, the now-cancelled Keystone XL and Coastal GasLink. ....

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Choosing a new AFN national chief, Habs force Game 4 : In The News for July 6

Choosing a new AFN national chief, Habs force Game 4 : In The News for July 6
nationalpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalpost.com Daily Mail and Mail on Sunday newspapers.

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'Steer the market': Study finds $23B in federal, provincial pipeline support - Medicine Hat NewsMedicine Hat News

Taxpayer dollars are heavily distorting Canada’s financial marketplace in favour of fossil fuel pipelines, new research suggests.
The International Institute for Sustainable Development says spending by provincial and federal governments combined with the value of loan guarantees and other fiscal instruments intended to help get the lines built is worth a total of $23 billion.
The great majority of that money isn’t in direct subsidies to the now-defunct Keystone XL or ongoing Trans Mountain and Coastal GasLink projects, said report author Vanessa Corkal. But backstopping loans and reducing other kinds of risks for pipelines encourages companies to make choices they wouldn’t otherwise make, she said. ....

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