Help us end BC's biggest fossil fuel subsidy for good!
December 4, 2021
Tracey Saxby
Thanks to massive public pressure, the BC NDP have launched a Royalty Review to evaluate subsidies for fracking companies.
This is a critical opportunity to end Deep Well Royalty Credits—one of BC's biggest fossil fuel subsidies.
The Deep Well Royalty Credit program was originally enacted in 2003 by the BC Liberal government to incentivize companies to drill fracking wells. It resulted in a massive rush to drill as many fracking wells as possible in northeast B.C. with devastating consequences for the environment, groundwater, human health, Indigenous communities, and the climate.
A single fracking well can be eligible for between $440,000 and $2.8 million. This is a huge tax loophole for fracking companies. The Province of B.C. currently owes fracking companies $3.8 billion in unused royalty credits!
Under Premier Horgan's leadership, taxpayer handouts for fossil fuel companies increased to a whopping $1.3 billion a year. That's double what we spend on climate action and five times more than we earn in royalties.
Public funding must be directed towards urgent climate action—not towards risky fossil fuel projects that taxpayers will have to pay to clean up.
Take action!
Send a letter to the Premier and tell him to stop funding fracking.
It takes a minute to use the sample letter we’ve provided, but your submission will have far greater impact if you also add in your own words. Please be respectful.
DEADLINE: 10th December
How does this relate to Woodfibre LNG?
The owner of Woodfibre LNG, Sukanto Tanoto, now owns a fracking company, Pacific Canbriam Energy, which will supply gas for Woodfibre LNG (if it ever goes ahead).
If we can eliminate subsidies for fracking, Woodfibre LNG will never be economically viable.
It takes a minute to tell the Premier to stop funding fracking.
Even better—call the Premier's office and leave a message: +1 (250) 387-1715.
Learn more
1) Read the independent assessment which concluded that "The BC royalty system for oil and gas is broken. It does not support and contribute to government and societal goals."
2) Download the discussion paper for the Royalty Review.
3) Article by the Tyee: Are Fossil Fuels in Our Future? BC Wants to Hear from You
4) Watch this webinar explaining BC's royalty review (thanks to our friends at Wilderness Committee, Stand, and Dogwood).
5) Read the Canadian Centre for Policy Alternative's submission to the Royalty Review.
*****
We cannot afford to give billions of taxpayer dollars to fossil fuel companies that are destroying our climate.
Tracey Saxby
Executive Director, My Sea to Sky
Follow me on twitter: @tracey_saxby
P.S. If you donate before 31st December 2021, a wonderful local family has offered to double your monthly donation for an entire year! $25 per month will become $50 per month!
My Sea to Sky is incredibly proud and grateful to say that we rely on the My Sea to Sky community for small donations that provide the majority of our funding. Since our launch in 2014, we have been funded through personal savings, family and friends; and powered by the passion of our volunteers. Your generous contribution will help us to run our critical campaigns to defend, protect, and restore Átl’ḵa7tsem / Howe Sound. Can you chip in?