BC may finally end its biggest fossil fuel subsidy
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- Published on Sunday, 29 November -0001 16:00
- Written by editor
But could what comes next be even worse?
Hi Paov,
For years, we’ve been hounding the provincial government over its broken gas royalty system. It’s so rigged that 14 out of 15 of the largest fracking companies actually pay less to public coffers than they receive in drilling credits.
Now it looks like BC will end this enormous fossil fuel subsidy. But there’s a catch.
While the NDP government is pitching a review of the gas royalty system as a way to fight climate change, it’s considering a new system that could actually lead to more fracking, not less. You can stop them.
You and I would effectively cover these companies’ costs, exempting them from royalties until they’ve paid off their wells. Instead, the BC government wants to cover the costs of fracking for gas!
roy·al·ty
- Royalties are the price fracking companies pay the Province of British Columbia for its gas.
There still may be a way to salvage this process, though. One of the systems the province is considering would prevent drilling wells that are uneconomic. If enough of us write into the public consultation, we could still make this effort a win for the climate.
Will you write a submission to the royalty review by Dec. 9 and demand a system that fights the climate crisis instead of making it worse? Take action! We can’t let them get away with claiming to end fracking subsidies while actually covering their costs — and we won’t.
For the climate,
Peter McCartney
Climate Campaigner
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