The Subsidy Paradox

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We recognize the dim future of the fossil fuel economy yet we continue to search frantically for new sources of oil. As KAIROS demonstrates in its research paper Pumped Up: How Canada subsidizes fossil fuels at the expense of green alternatives, we spend far more money in Canada to support multinational corporations in their search for oil (and profit) than we do in building a green, sustainable, and just energy economy. The report characterizes the problem in this way: “We are in a bind: our appetite for oil is killing us, but we need more.”

Conscious of the devastating effects of climate change, an overwhelming majority of Canadians  now insist on prompt action to reduce greenhouse gas  emissions. To accomplish this goal, we must redirect our support for companies that profit from fossil fuels to invest instead in green technologies that promote conservation, energy efficiency and renewable alternatives.

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