Most of Ottawa’s $1.6B bailout for Alberta oil and gas industry has been handed out
Canada’s $1.6-billion bailout for Alberta’s battered oil industry is
well underway, but with little transparency about who is getting the
money and for what.
well underway, but with little transparency about who is getting the
money and for what.
Almost $1 billion of the package of loans,
guarantees and government grants announced last December is in the hands
of companies, but details are available for just a small fraction of
the spending and the industry says it has not helped much.
The
package is rolling out as pressure mounts on Canada to fulfill its
promise to end all subsidies to fossil-fuel producers, and as European
banks flee the sector altogether.