2015-01-01 23:04:01 UTC
Sunday, May 25, 2014 - http://www.thebarrieexaminer.com
Tar sands not paying off like columnist suggests
So how much of this revenue is generated by tar sands? In 2009 the tar sands
sector generated zero dollars in corporate tax revenue. That includes both
provincial and federal taxes.
If you include royalty income and personal income tax paid by individuals
employed by that sector, the total contribution to provincial and federal
coffers was less than $2 billion - of which the federal government received a
meagre $217 million. That is less than 0.1% of the Canadian government’s total
revenue that year of $218.6 billion.
Of course, 2010 was a better year for the tar sands. It generated almost $3
billion in total tax and royalty revenue for federal and provincial coffers.
Ottawa’s share of that $3 billion was a mere $845 million. That works out to
less than 0.4% of the total federal government revenue that year of $237.1 billion.
Now read Joe Oliver's scare-the-people-who-oppose-pipelines version . . . .
CBC News Posted: Dec 30, 2014
Joe Oliver concerned about a Canada divided over energy
Finance minister says economy could be held back by stalled pipelines, fracking
Finance Minister Joe Oliver says he is concerned that divisions within Canada
over the energy sector will eventually hold back the country’s growth.
In a year-end interview for The Exchange with Amanda Lang, Oliver cited
opposition to fracking and to pipelines in some provinces as potential points
“It’s important to communicate with Canadians that we’re not just missing out
on a new opportunity. We’re potentially also looking at a decline which would
adversely affect the Canadian economy and degrade the standard of living of
Canadians across the country,” Oliver said.
New Brunswick recently announced it would impose a moratorium on fracking and
Quebec and Ontario have set conditions for the development of the Energy East
pipeline within their borders.
Pipelines critical to economy?
Oliver terms the need to get Canadian oil to tidewater so it can be shipped
overseas a “critical strategic imperative” for the country.
He said the inability to gain agreement to build the Keystone XL pipeline
through the U.S. so far was disappointing, but he believes that a pipeline to
secure export markets will eventually go through.
'I haven’t heard anybody suggest that the U.S. is about to introduce a
carbon tax. I think with the change in the Senate and the House of
Representatives, that’s an extremely unlikely event'- Finance Minister Joe Oliver
“We have a critical strategic imperative, which is to diversify our markets
because 100 per cent of our gas exports, 99 per cent of our oil exports go to
the U.S.,” Oliver said.
“They’ve found vast amounts of their own and they’re in the process of
competing with us on gas,” he added.
He upheld the prime minister’s view that a carbon tax which would show Canada
is moving to combat climate change would not be the right move at this time.
The Obama administration has suggested it is looking for proof that Canada is
moving to combat climate change before it would approve Keystone.
“What we have said, what the prime minister has said is ‘we’ll move with other
countries, but this is not the time to disadvantage Canadian industry in a
significant way.’ It simply doesn’t make sense,” Oliver said.
Oliver dismisses carbon tax
He insisted Canada is serious about dealing with greenhouse gases and would
move when other countries move, but said he doesn’t believe there is
international pressure to put a carbon tax in place.
“I haven’t heard anybody suggest that the U.S. is about to introduce a carbon
tax. I think with the change in the Senate and the House of Representatives,
that’s an extremely unlikely event,” Oliver said.
“Why introduce a carbon tax here to show that we are serious about climate
change when they haven’t done it?” he added.
A 2014 report on Canada’s greenhouse gas emissions shows the country will fall
short of meeting its 2020 targets that were agreed to in Copenhagen for
reducing the emissions that lead to climate change. The world is set to
implement tougher emissions targets when delegates gather in Paris next year.
Oliver points out that Canada is “very wealthy” and has an opportunity to
prosper even more in the years ahead.
But there are headwinds from Europe and other more troubled economies, even as
the U.S. picks up steam.
“The fact that Europe is poised to either start recovering or decline is a
concern,” he said.
“There are geopolitical issues that have economic and other implications for
Canada. We’re in pretty good shape, but the international situation is
fragile,” he said.
Oliver said his goal is to create economic stability for Canadians and that’s
part of the reason he believes it’s important to have balanced budgets and
bring down the debt.
“We want to be strong in the event there are international shocks, which are
inevitable from time to time,” he said.