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Green Caucuses call on Prime Minister, Premiers, to implement a windfall profits tax on oil and gas

June 13, 2022

VICTORIA, B.C. – Sonia Furstenau, Leader of the BC Greens, David Coon, Leader of the New Brunswick Greens, and Peter Bevan-Baker, Leader of the PEI Greens, are calling on the Prime Minister and Premiers across the country for a national tax on the windfall profits of oil and gas companies.

“British Columbians are struggling with record-breaking affordability challenges right now. Housing is unattainable, inflation is at record levels, and the price of gas is making it incredibly difficult to access basic services. The BC provincial government has failed to address these crises or invest in accessible transportation options.

“Meanwhile, oil and gas companies are reaping record-breaking profits. We all noticed gas prices jump after Russia invaded Ukraine. There are no oil shortages in North America, and yet our prices have climbed. Oil and gas companies are cashing in on the crisis and the public is paying the price.

“That is why we are calling on the Prime Minister to implement a windfall profits tax on oil and gas companies, with the proceeds returned to Canadians. Right now, British Columbians, and all Canadians, are struggling to make ends meet.”

The BC Green Caucus, in conjunction with the New Brunswick Green Caucus and the PEI Green Caucus, has signed an open letter to the Prime Minister calling for urgent action. The letter has cc’d the BC, NB, and PEI premiers, as well as all federal party leaders.

 “I represent a provincial caucus, but this is a federal policy tool. That is why we are calling on the Prime Minister - and, calling on the Premier of British Columbia to join his voice with ours,” Furstenau continued.

“There is a precedent for taxes on windfall profits. Across Europe right now, we are seeing countries bring in these windfall taxes for energy companies profiting from war in Ukraine. Canada should do the same - especially as it gets harder and harder for people to meet their basic needs.

“Governments need to enact policies that ensure companies are operating in good faith. One concrete step the federal government can take is to put in place a windfall profits tax, and return those funds to people.”

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Media contact
Laura Ferreira
B.C. Green Caucus
+1 250-882-6187 | [email protected]

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