Why it's time to end corporate welfare for Canada's fossil fuel industry - 2020-03-04
Given our renewed national interest in pipelines and oil sands mines, consider some strange bedfellows: economists who agree with environmentalists that subsidizing the fossil fuel industry is a bad idea.
Eliminating fossil fuel subsidies would obviously help Canada achieve its emissions-reduction targets. What's less obvious is how these subsidies undermine our economy, add to the tax burden, and hinder innovation.
In testimony before the U.S. House Committee on Science, Space and Technology's energy subcommittee in 2015, for example, Mercatus Centre senior research fellow Veronique de Rugy argued all government subsidies to the energy industry — including those that benefit the fossil fuel sector — ought to be abolished.