December 8th, 2020
Government support must go to those in need, not rich oil companies
December 8, 2020
OTTAWA — Today, a Parliamentary Budget Officer (PBO) report confirmed that, even during the pandemic, the Liberals continue to dump billions of dollars into propping up oil companies and a pipeline project that is very unlikely to make a profit or create sustainable jobs.
“Today’s PBO report confirms that it would take a fantasy scenario for this project to be profitable. If this government is serious about climate action and actually commits to net zero emissions by 2050, then this project is not financially viable,” said NDP Critic for Climate Change and the Environment Laurel Collins. “Canadians who are struggling to get through the pandemic and are worried about their futures are rightly upset that the government isn’t investing this money in good, long-term jobs that support workers and help fight the climate crisis.”
The NDP requested the PBO report after the Canada Energy Regulator found that the Trans Mountain pipeline expansion isn't necessary to meet oil capacity in Canada and recommended that the federal government reassess the need for the project. Research conducted by the Canadian Center for Policy Alternatives confirmed oil production forecasted by the regulator can easily be accommodated for the next decade with existing pipelines and without rail, the TMX, or the Keystone XL Pipeline.
“The PBO report makes it clear that the TMX expansion project is incredibly unlikely to return a profit in the coming decades,” said NDP Finance Critic Peter Julian. “Instead of the Liberals using billions of dollars of public money for a project which is quite clearly not in the public interest, they should be supporting struggling Canadians now and throughout the pandemic recovery.”