Canada to end domestic subsidies for unabated fossil-fuel production

Fastandfurious74
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Canada to end domestic subsidies for unabated fossil-fuel production

Post by Fastandfurious74 »

https://www.castanet.net/news/Canada/43 ... ion#436820

Saw this today on the home page, it's about time too. I am so sick of the government giving these companies my tax dollars. We are not a socialist country, nothing is free!
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by raft-cove »

That's fine.

What will happen is the break-even costs for private O&G investment will increase.

When that happens, nobody will explore and produce until the price of oil is $80+

When price of oil rises, everybody pays more.


So if you don't like fuel prices at $3/L, you would have concerns with this news.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Fastandfurious74 »

raft-cove wrote: Jul 14th, 2023, 12:11 pm That's fine.

What will happen is the break-even costs for private O&G investment will increase.

When that happens, nobody will explore and produce until the price of oil is $80+

When price of oil rises, everybody pays more.


So if you don't like fuel prices at $3/L, you would have concerns with this news.
Personally, if a company cant operate without handouts from the government, they shouldn't be in business at all. The free market will correct itself, if a company increases their prices to much, another will lower/keep theirs stable to steal their customers.
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GordonH
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by GordonH »

Will be watching to see how this announcement will affect pump prices across Canada.
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raft-cove
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by raft-cove »

GordonH wrote: Jul 14th, 2023, 12:18 pm Will be watching to see how this announcement will affect pump prices across Canada.
Will be a global impact.

As you constrain new supply of fuels when demand is rising, the only mechanism that will reduce consumption is HIGHER prices.

We can look back and say that Canada's shortsightedness helped push prices of oil to $150 a barrel.

That's when consumers will face $3-4/L

Plus layers of carbon taxes.


Future energy shortages will cause the next major recession.

You'll see.
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Why are so many children suffering from MYOCARDITIS?

Okanagan Landlords are the Forrest Gumps of the Investment World.

Parabolic Real Estate values are NOT sustainable at 5% mortgage rates, Ask Tiff.
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GordonH
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by GordonH »

raft-cove wrote: Jul 14th, 2023, 12:22 pm
GordonH wrote: Jul 14th, 2023, 12:18 pm Will be watching to see how this announcement will affect pump prices across Canada.
Will be a global impact.

As you constrain new supply of fuels when demand is rising, the only mechanism that will reduce consumption is HIGHER prices.

We can look back and say that Canada's shortsightedness helped push prices of oil to $150 a barrel.

That's when consumers will face $3-4/L

Plus layers of carbon taxes.


Future energy shortages will cause the next major recession.

You'll see.
Do the largest oil producers worldwide subsidize their oil production ie Saudi Arabia
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by raft-cove »

GordonH

Govt there in SA owns 95% of their National Oil Co.

Yes, the Saudis subsidize their Refining business units.
Last edited by raft-cove on Jul 14th, 2023, 12:35 pm, edited 1 time in total.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by GordonH »

Cheapest gasoline price worldwide per/litre US is Venezuela at .0004

Most expensive is 2.994 in Hong Kong.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by raft-cove »

GordonH wrote: Jul 14th, 2023, 12:50 pm Cheapest gasoline price worldwide per/litre US is Venezuela at .0004

Most expensive is 2.994 in Hong Kong.
Yes.

One is subsidized, one is not.
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Why are so many children suffering from MYOCARDITIS?

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Parabolic Real Estate values are NOT sustainable at 5% mortgage rates, Ask Tiff.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Jlabute »

It is better to subsidize O&G rather than wasteful CO2 capture and storage. What a joke. CO2 capture is so wasteful, expensive, and inefficient. It benefits no one. The amount of CO2 reclaimed is not even a drop in the proverbial bucket. Environment Minister Steven Guilbeault is a dope. This will make life more expensive for all Canadians, and discourage investment. If Ontario and Quebec were really serious about ending reliance on fossil fuels, they should cancel their transfer payments from Alberta. That is what should happen if federal subsidies disappear. Make the West rich again.

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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by The Green Barbarian »

Fastandfurious74 wrote: Jul 14th, 2023, 12:17 pm
raft-cove wrote: Jul 14th, 2023, 12:11 pm That's fine.

What will happen is the break-even costs for private O&G investment will increase.

When that happens, nobody will explore and produce until the price of oil is $80+

When price of oil rises, everybody pays more.


So if you don't like fuel prices at $3/L, you would have concerns with this news.
Personally, if a company cant operate without handouts from the government, they shouldn't be in business at all. The free market will correct itself, if a company increases their prices to much, another will lower/keep theirs stable to steal their customers.
Agree. Time to end all subsidies for solar, wind and electric vehicles.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Babba_not_Gump »

Fastandfurious74 wrote: Jul 14th, 2023, 12:07 pm https://www.castanet.net/news/Canada/43 ... ion#436820

Saw this today on the home page, it's about time too. I am so sick of the government giving these companies my tax dollars. We are not a socialist country, nothing is free!
I would like to agree with you but if all Canadian companies who receive subsidies were suddenly cut off, most would shut down and leave Canada. And there goes our economy.
And it applies to more then just those in the oil and gas industries.
The problem comes with other governments doing the same, subsidizing their own companies.
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Urban Cowboy »

Fastandfurious74 wrote: Jul 14th, 2023, 12:17 pm
raft-cove wrote: Jul 14th, 2023, 12:11 pm That's fine.

What will happen is the break-even costs for private O&G investment will increase.

When that happens, nobody will explore and produce until the price of oil is $80+

When price of oil rises, everybody pays more.


So if you don't like fuel prices at $3/L, you would have concerns with this news.
Personally, if a company cant operate without handouts from the government, they shouldn't be in business at all. The free market will correct itself, if a company increases their prices to much, another will lower/keep theirs stable to steal their customers.
How exactly will this free market correct itself, when big oil are all colluding with each other?

This "correction" is another way of saying, higher prices at the pump.

Government is feeling the pain, from JT's unchecked spending spree, so is now out to clawback funds from anywhere they can, and as always, in the end it's us footing the bill.
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Fastandfurious74
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Fastandfurious74 »

The Green Barbarian wrote: Jul 14th, 2023, 1:35 pm
Fastandfurious74 wrote: Jul 14th, 2023, 12:17 pm

Personally, if a company cant operate without handouts from the government, they shouldn't be in business at all. The free market will correct itself, if a company increases their prices to much, another will lower/keep theirs stable to steal their customers.
Agree. Time to end all subsidies for solar, wind and electric vehicles.
Not sure if you think this is a "Gotcha!" moment, but I agree!
Fastandfurious74
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Re: Canada to end domestic subsidies for unabated fossil-fuel production

Post by Fastandfurious74 »

Jlabute wrote: Jul 14th, 2023, 1:12 pm It is better to subsidize O&G rather than wasteful CO2 capture and storage. What a joke. CO2 capture is so wasteful, expensive, and inefficient. It benefits no one. The amount of CO2 reclaimed is not even a drop in the proverbial bucket. Environment Minister Steven Guilbeault is a dope. This will make life more expensive for all Canadians, and discourage investment. If Ontario and Quebec were really serious about ending reliance on fossil fuels, they should cancel their transfer payments from Alberta. That is what should happen if federal subsidies disappear. Make the West rich again.

There is no Liberal party, they are Green.
What an odd thing to talk about when were talking about oil! Also, were are a United Country! I may not agree with some of my fellow countrymen but I would never suggest what you are suggesting! Do you believe that western Canada is no longer rich? Or are you comparing the west to the east and think that somehow were worse off? Sorry, I'm just a little confused!

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