And oil and gas producers pay about $6-10 billion per year in royalties. A 100%+ return on investment is pretty good deal for taxpayers. Of course, that assumes that everything on the list is really a subsidy. Most are are simply tax rules that every corporation benefits from in one way or another.
Irrelevant, Tim. The fossil fuel issue is not about short term profits. It's now about the long term pain it is causing.
We're aware that fossil fuels are profitable in the short term - if we don't include environmental costs. Profitability is not the reason for winding down fossil fuels.
Damage is.
Yes there are still federal subsidies, and we want those federal subsidies to be transferred to renewables.
I tracked down a federal subsidy to a startup oil company once - $150m.
In their first year of operation - not drilling yet - the company posted a profit of ... $150m.
Weird. Public money should never be 'profit' for investors. Something hinky there.
Alberta can subsidize if it wants, but that federal money needs to be invested in the future of clezn energy, not shoring up dirty energy.
Fossil fuels were never cheap. We just subsidized them and passed the environmental costs on to the future.
We can't afford to do that anymore.
And the kids are really pissed at us about that: Have you heard of them protesting in the streets worldwide?
It's their future we've compromised.