Government should ‘hold firm’ on compliance with emissions caps and reduction deadlines for oil and gas sector, say environmentalists
With second quarter oil and gas profits soaring, environmentalists are calling for a 'windfall profits tax' on oil and gas companies, questioning the morality of the sector to 'rake in record amounts while people are suffering' from the war in Ukraine and global 'fossil fuel-driven inflation.'
Canada's four biggest oil companies reported over $12-billion in combined profits for the second quarter of 2022, a nearly threefold increase from the same time last year. Environmentalists argue the oil and gas companies don't need more time to meet the government's emission reduction goals. Alberta's oil sands, pictured, circa 2008. Photograph courtesy of Jake Wright