Laser Talk: Fossil Fuel Subsidies and the Carbon Bubble in Canada 

Laser Talk: Fossil Fuel Subsidies and the Carbon Bubble in Canada

A January 2018 study by the Parkland Institute estimates that the Big Five (Canadian Natural Resources Limited (CNRL), Suncor Energy, Cenovus Energy, Imperial Oil and Husky Energy) in Alberta are sitting on an almost two trillion liability. “Alberta’s oil sands industry is a carbon bubble—a petroleum-oriented economy that has a high risk of instability, crisis, and even collapse,” the report states.

There is an urgent need to reconsider the fossil fuel industry’s economic value chain in light of climate change. Negative taxes are artificially incentivizing companies to sink costs into infrastructure with dubious prospects. The costs of orphaned wells, tailing ponds, climate disruptions, and other externalities will be borne by future taxpayers long after fossil fuels have ceased to generate wealth. Climate change is a game changer.

 

Go back to Laser Talks Page.