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

Bob Weber
Construction of the Trans Mountain pipeline is seen under way in Kamloops, B.C., on September 1, 2020. New research suggests taxpayer dollars are heavily distorting Canada s financial marketplace in favour of fossil fuel pipelines. THE CANADIAN PRESS/Jonathan Hayward
July 05, 2021 - 9:05 PM
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 ....

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At least $23 billion spent supporting pipelines since 2018

International Institute for Sustainable Development policy adviser Vanessa Corkal with documents obtained through access to information. Photo courtesy of IISD
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Since 2018, governments in Canada have pumped at least $23 billion worth of support into three megaproject pipelines designed to move giant amounts of oil and gas to international markets, undermining Ottawa’s commitment to lower greenhouse gas emissions, says a new report from the International Institute for Sustainable Development (IISD).
Those pipelines are Trans Mountain, Coastal GasLink, and Keystone XL. The IISD found that since the COVID-19 pandemic hit, governments supplied those projects with at least $10 billion worth of support. ....

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

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

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Net Zero: Algoma Steel given $420M to decarbonize Sault plant

Net Zero: Algoma Steel given $420M to decarbonize Sault plant
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Government pipeline support at $23B: study

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

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