Oil & Gas Taxes Could Be a Game-changer

The Tyee article by Emiko Newman, BC Climate Emergency Campaign co-ordinator

offshore oil rig in the waters of Ras Laffan, Qatar. (Anoop PS, Pexels)

In the past, excess profits taxes have helped Canadian citizens. The taxes have not harmed industry which makes huge profits for foreign investors. Let's see the government tax big corporations fairly while putting those dollars into climate solutions and towards rebates for Canadians suffering under inflated prices.

Emiko Newman says:

While residents of Iran suffer the consequences of a senseless war, the impacts ripple across the globe in the form of price spikes for gas and other commodities. And the Canadian oil and gas industry has been laughing all the way to the bank.

Since the war began when the United States and Israel attacked Iran on Feb. 28, Canada’s oil industry has been making an extra $170 million every day. In the first month of the war alone, those profits exceeded $6 billion, three times what the industry made before the war began.

Read the whole article: https://thetyee.ca/Opinion/2026/06/17/Iran-War-Oil-Gas-Profits/