Hughes quoted in Tyee article on Alberta oil facts
May 21, 2019
Post Carbon Fellow David Hughes was quoted in this article by Andrew Nikiforuk on myths and claims around the Alberta oil industry.
From the article:
A growing oil and gas industry is “the most vital economic lever in Canada’s economy” and helps us build hospitals and schools, writes columnist Nelson in the Calgary Herald.
That’s a big laugh.
Despite 47 per cent growth in Canada’s oil and gas production since 2000 — largely from the tar sands — royalty payments to government have declined 59 per cent, notes respected energy analyst David Hughes.
So, too, has the industry’s proportional contribution to GDP.
According to data from Natural Resources Canada, taxes paid by the oil and gas industry since 2006 have dropped from $12 billion to $6 billion.
Selling off our oil and gas resources for declining revenues is a bad business model, notes Hughes.