Who really benefits from the expansion of the oil and gas industry? Spoiler alert: It’s not the Alberta workforce or Canadian taxpayers – it’s foreign investors.
Stand.earth’s new report reveals that 70% of Alberta’s oil sands production is owned by foreign companies and shareholders. Canada’s oil industry is sending the majority of its profits overseas, while Canadian taxpayers are left to foot the clean-up bill.
If put in the right hands, this information could swing politicians who are still pushing for a giant fossil fuel subsidy within the next COVID-19 stimulus package, and convince them that bailing out Big Oil will not benefit everyday Canadians.
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Stand is an advocacy organization that brings people together to demand that corporations and governments put people and the environment first.