Review of federal fossil fuel subsidies appears to be behind schedule
A 2021 completion date would leave Canada with less than four years to hit Prime Minister Justin Trudeau’s promise of phasing out all “inefficient” subsidies to the fossil fuel sector by 2025. The peer review is seen as a critical part of the process because there is no consensus in Canada between politicians, environment experts and the energy industry about what “inefficient” means or what constitutes a subsidy.
Environment groups suggest Canada’s annual aid to the oil, gas and coal sectors tops $10 billion, including tax credits and treatments, direct grants, loans and loan guarantees from Export Development Canada.