The Madness Continues: Fossil Fuel Subsidies Equal $1,650 Per Canadian

"Prime Minister Justin Trudeau’s vow to phase out ‘inefficient’ subsidies for coal, oil and gas still hasn’t happened — despite the escalating costs of the climate emergency.


According to a new International Monetary Fund (IMF) report, Canada subsidized the fossil fuel industry to the tune of almost $60 billion in 2015 — approximately $1,650 per Canadian.

Yet subsidizing one of the world’s wealthiest industries is folly. Such subsidies not only hurt Canadian taxpayers and the economy — they also exacerbate the climate emergency.


Indeed, the G20 countries have already agreed that subsidizing fossil fuels is irrational in a warming world — and have called for action to eliminate inefficient fossil fuel subsidies that distort markets."


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